Canopy Growth (TSE:WEED) Given a C$2.00 Price Target at Canaccord Genuity Group

Canopy Growth (TSE:WEED) has been given a C$2.00 price objective by research analysts at Canaccord Genuity Group in a research report issued on Friday,BayStreet.CA reports. The firm presently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 60.00% from the company’s current price.

Several other equities research analysts have also recently issued reports on the company. Sanford C. Bernstein cut their target price on Canopy Growth from C$5.30 to C$2.50 in a research note on Wednesday, January 14th. ATB Cormark Capital Markets raised Canopy Growth from a “sector perform” rating to an “outperform” rating and set a C$1.40 price target on the stock in a research note on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$1.97.

Canopy Growth Price Performance

WEED traded down C$0.03 during trading on Friday, reaching C$1.25. The company’s stock had a trading volume of 981,434 shares, compared to its average volume of 2,035,392. The company has a market cap of C$528.52 million, a price-to-earnings ratio of -0.67, a PEG ratio of -0.01 and a beta of 1.55. The firm has a fifty day simple moving average of C$1.50 and a two-hundred day simple moving average of C$1.70. Canopy Growth has a 1 year low of C$1.09 and a 1 year high of C$3.28. The company has a quick ratio of 2.32, a current ratio of 5.34 and a debt-to-equity ratio of 35.93.

Canopy Growth (TSE:WEED) last announced its quarterly earnings results on Friday, February 6th. The company reported C($0.18) earnings per share (EPS) for the quarter. The firm had revenue of C$74.54 million for the quarter. Canopy Growth had a negative return on equity of 52.88% and a negative net margin of 117.31%. As a group, analysts anticipate that Canopy Growth will post -0.69 EPS for the current year.

Canopy Growth Company Profile

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names. It also offers its products through Tweed Main Street, a single online platform that enables registered patients to purchase medicinal cannabis from various producers across various brands.