Alliance Global Partners Has Lowered Expectations for Canopy Growth (TSE:WEED) Stock Price

Canopy Growth (TSE:WEED) had its target price dropped by equities research analysts at Alliance Global Partners from C$1.80 to C$1.60 in a report released on Tuesday,BayStreet.CA reports. Alliance Global Partners’ price objective indicates a potential upside of 20.30% from the company’s previous close.

Several other equities analysts have also recently commented on the company. ATB Cormark Capital Markets upgraded Canopy Growth from a “sector perform” rating to an “outperform” rating and set a C$1.40 target price for the company in a research note on Tuesday, March 17th. Canaccord Genuity Group set a C$2.00 target price on Canopy Growth and gave the company a “speculative buy” rating in a research note on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$1.88.

Canopy Growth Trading Down 4.3%

TSE:WEED traded down C$0.06 on Tuesday, reaching C$1.33. The stock had a trading volume of 2,280,627 shares, compared to its average volume of 2,068,207. The company has a market cap of C$562.35 million, a price-to-earnings ratio of -0.72, a P/E/G ratio of -0.01 and a beta of 1.19. Canopy Growth has a 12-month low of C$1.18 and a 12-month high of C$3.28. The company has a debt-to-equity ratio of 35.93, a current ratio of 5.34 and a quick ratio of 2.32. The firm’s fifty day moving average is C$1.50 and its two-hundred day moving average is C$1.57.

Canopy Growth (TSE:WEED) last announced its quarterly earnings data on Monday, June 15th. The company reported C($0.40) earnings per share for the quarter. The company had revenue of C$71.25 million for the quarter. Canopy Growth had a negative return on equity of 47.41% and a negative net margin of 107.39%. Equities analysts expect that Canopy Growth will post -0.69 EPS for the current fiscal 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.