Sanford C. Bernstein Lowers Canopy Growth (TSE:WEED) Price Target to C$2.50

Canopy Growth (TSE:WEED) had its target price cut by equities research analysts at Sanford C. Bernstein from C$5.30 to C$2.50 in a report released on Wednesday,BayStreet.CA reports. Sanford C. Bernstein’s price objective would suggest a potential upside of 47.06% from the company’s current price.

WEED has been the topic of several other research reports. ATB Capital dropped their target price on shares of Canopy Growth from C$1.60 to C$1.40 and set an “underperform” rating on the stock in a research report on Thursday, December 11th. Benchmark raised shares of Canopy Growth from a “sell” rating to a “hold” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Sell” and a consensus price target of C$1.80.

Canopy Growth Stock Down 0.6%

Canopy Growth stock opened at C$1.70 on Wednesday. The company has a debt-to-equity ratio of 120.38, a current ratio of 1.39 and a quick ratio of 2.32. The stock has a market capitalization of C$642.37 million, a PE ratio of -0.64, a price-to-earnings-growth ratio of -0.01 and a beta of 2.12. The business has a 50 day simple moving average of C$1.73 and a 200-day simple moving average of C$1.79. Canopy Growth has a 12 month low of C$1.09 and a 12 month high of C$4.15.

Canopy Growth (TSE:WEED) last announced its earnings results on Friday, November 7th. The company reported C($0.01) earnings per share (EPS) for the quarter. The business had revenue of C$66.68 million for the quarter. Canopy Growth had a negative net margin of 201.27% and a negative return on equity of 108.18%. On average, analysts anticipate that Canopy Growth will post -0.69 EPS for the current fiscal year.

About Canopy Growth

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.