Another ViewI know that your most recent assessment of FORA was downbeat, however, they just released results that blew everyone out of the water and a number of analysts (RBC,TD, CIBC, RJ etc.) were falling over themselves to provide upgrades and significantly increase their targets. Would appreciate your view.
Loss of 5c per share beat estimates of -9c. Revenue of $14.72M beat estimates of $13.88M. EBITDA of $5.22M beat estimates by 41%. Revenue rose 14%; free cash flow was $5.2M. Certainly these were strong results. Four brokerages raised their target prices last week, and the stock is now up 98% YTD. We were previously concerned with the debt and negative momentum. Debt hasn't changed but momentum certainly has. Also, it is now expected to be profitable this year. We will give credit where due: the company put together strong results. One quarter does not make a trend, but certainly we feel better about things today than a few months ago. (5iResearch)