VerifyMe (VRME) stock rocketed higher on Thursday after a subsidiary of the business intelligence company reached an agreement with United Parcel Service (UPS). This agreement will provide PeriShip Global with access to UPS’ designated services at promotional rates.
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This agreement will allow PeriShip Global to develop interfaces for UPS’ Application Programming Interfaces (APIs) to better manage its logistics. That could result in a more efficient workflow for the shipping company, strengthening its position in the sector.
VerifyMe Stock Movement Today
VerifyMe stock was up 82.16% in pre-market trading on Thursday, following a 1.99% drop yesterday. The shares have also fallen 49.54% year-to-date and 39.27% over the past 12 months. Today’s news brought heavy trading to VRME stock, with some 56 million shares traded, compared to a three-month daily average of about 51,000 units.
Is VerifyMe Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for VerifyMe is Moderate Buy, based on two Buy ratings over the past three months. With that comes an average VRME stock price target of $1.38, representing a potential 101.11% upside for the shares.
