Shares of Verb Technology (NASDAQ:VERB) inventory are taking off on Wednesday as a consequence of some massive information pushing the ticker increased.
Before we get into that, traders on and off Wall Street could not know a lot about Verb Technology. So, let’s look at the agency a little bit nearer.
According to the corporate’s web site, this Utah-based agency is about to be a “market chief in interactive video-based buyer relationship administration (“CRM”) gross sales and advertising functions.” It supplies gross sales organizations with companies reminiscent of CRM lead era and video advertising software program functions throughout 60 international locations and 48 languages.
The rise in VERB inventory comes after Ascendiant Capital analyst Edward Woo started his protection the ticker on Monday. And he began it off with a bang with a “Buy” ranking on shares of the inventory.
Additionally, Woo additionally talked about a worth goal for VERB inventory at $4 per share. In flip, this might imply upside of 203% from $1.32 when the report was printed, and an 86% achieve from present ranges.
With all of that in thoughts, Woo additionally supplies some reasoning behind his preliminary protection of VERB inventory. This contains “sturdy progress potential for its Software-as-a-Service (SaaS) enterprise platform for video e-commerce and CRM. [Ascendiant Capital] count on sturdy progress over the subsequent yr to be optimistic for inventory.”
VERB inventory was up greater than 35% as of Wednesday afternoon.
On the date of publication, Nick Clarkson didn’t have (both instantly or not directly) any positions within the securities talked about on this article.
Nick Clarkson is an online editor at InvestorPlace.