Reports of a new tie-up between Verb Technology (NASDAQ:VERB) and privately held Shop.com continue to stoke investor excitement. VERB stock is sustaining yesterday’s aftermarket gains on Thursday morning, surging another 13% at the open.
Verb announced yesterday that it has partnered with the Market America Worldwide unit to launch a customized, interactive live-streaming channel, SHOP LIVE, unique to distributors known as UnFranchise Owners (UFOs).
The collaboration seems to be right in Verb’s sweet spot. It offers interactive, video-based customer relationship management (CRM) sales and marketing applications. These are lead-generation and video-marketing software applications across 60 countries and 48 languages.
“SHOP LIVE is the biggest and best tool we have ever released to the field,” said Marc Ashley, president and COO of Market America Worldwide. “Think about it. As a UFO, I can invite a few of my friends to a fun and interactive virtual event. … When one of my friends wants to buy one of the products I’ve shown, I don’t have to send them to my website. They can just click to purchase the products inside the SHOP LIVE event.” he said in the announcement release.
VERB Stock Gained Earlier On Analyst Coverage
July’s been very good to VERB stock investors. The share price is up more than 36% after Ascendiant Capital analyst Edward Woo initiated coverage on the shares on June 29. He started it off with a bang, giving the stock a “buy” rating.
He joins two other analysts with that same rating. The company is due to report earnings on Aug. 19, with the consensus of a loss of 12 cents per share.
He cited the tech maker’s “strong growth potential for its Software-as-a-Service (SaaS) enterprise platform for video e-commerce and CRM. [Ascendiant Capital] expect[s] strong growth over the next year to be positive for stock.”
Additionally, Woo also mentioned a price target for VERB stock at $4 per share. That was more than 200% higher than the $1.32 per share that VERB was fetching when the report was published.
Today’s moves make it seem like VERB stock is getting there.
On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. His Substack newsletter, TLV Strategist, covers the Israel business scene.