Versapay (VPY) Given New C$2.50 Price Target at Eight Capital

Versapay (CVE:VPY) had its price objective increased by stock analysts at Eight Capital from C$2.00 to C$2.50 in a research report issued to clients and investors on Friday, BayStreet.CA reports. Eight Capital’s target price suggests a potential upside of 66.67% from the company’s previous close.

Separately, Raymond James set a C$3.30 price objective on shares of Versapay and gave the stock a “strong-buy” rating in a report on Thursday.

VPY traded down C$0.05 during trading on Friday, hitting C$1.50. 75,000 shares of the stock traded hands, compared to its average volume of 32,006. The stock has a market capitalization of $65.01 million and a P/E ratio of -4.53. The company has a quick ratio of 0.60, a current ratio of 1.42 and a debt-to-equity ratio of 1.29. Versapay has a 12-month low of C$0.91 and a 12-month high of C$2.74.

Versapay (CVE:VPY) last announced its quarterly earnings results on Tuesday, April 2nd. The company reported C($0.08) earnings per share for the quarter. The business had revenue of C$1.45 million for the quarter. Sell-side analysts expect that Versapay will post -0.04 EPS for the current fiscal year.

Versapay Company Profile

VersaPay Corporation, a financial technology company, provides cloud-based invoicing, accounts receivable (A/R) management, and payment solutions for businesses in Canada and the United States. The company offers ARC, a business-to-business solution that delivers capabilities in areas, such as invoice presentment, collaboration and collection, electronic payment, cash application, and A/R insight; PayPort, a cloud-based credit card and electronic funds transfer service; and Gateway that allows third party technology partners to connect to PayPort through a secure application program interface and offer the service as part of their own service offering.

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