VEREIT, Inc. (VER) Formed a Multiple Bottom Pattern, Could Be One of The Worst Performers Going Forward

April 23, 2018 - By Maria Brooks


The stock of VEREIT, Inc. (VER) shows a multiple bottoms pattern with $6.37 target or 4.00 % below today’s $6.64 share price. The 5 months chart pattern indicates high risk for the $6.60 billion company. It was reported on Apr, 23 by If the $6.37 price target is reached, the company will be worth $264.08 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.15% or $0.01 during the last trading session, reaching $6.64. About 5.78M shares traded. VEREIT, Inc. (NYSE:VER) has declined 19.24% since April 23, 2017 and is downtrending. It has underperformed by 30.79% the S&P500.

Analysts await VEREIT, Inc. (NYSE:VER) to report earnings on May, 4 before the open. They expect $0.18 EPS, down 5.26 % or $0.01 from last year’s $0.19 per share. VER’s profit will be $178.97 million for 9.22 P/E if the $0.18 EPS becomes a reality. After $0.18 actual EPS reported by VEREIT, Inc. for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

VEREIT, Inc. (NYSE:VER) Ratings Chart

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