Canaccord Genuity Group Reiterates “C$2.00” Price Target for Canopy Growth (TSE:WEED)

Canaccord Genuity Group set a C$2.00 target price on Canopy Growth (TSE:WEED) in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a speculative buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. ATB Cormark Capital Markets upgraded shares of Canopy Growth from a “sector perform” rating to an “outperform” rating and set a C$1.40 price objective for the company in a research report on Tuesday, March 17th. Sanford C. Bernstein lowered their target price on shares of Canopy Growth from C$5.30 to C$2.50 in a report on Wednesday, January 14th. Two equities research 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 a consensus rating of “Moderate Buy” and an average price target of C$1.97.

Canopy Growth Stock Down 3.9%

WEED opened at C$1.23 on Friday. The company has a fifty day moving average of C$1.49 and a two-hundred day moving average of C$1.69. The company has a debt-to-equity ratio of 35.93, a quick ratio of 2.32 and a current ratio of 5.34. The stock has a market capitalization of C$520.07 million, a price-to-earnings ratio of -0.66, a PEG ratio of -0.01 and a beta of 1.55. Canopy Growth has a fifty-two week low of C$1.09 and a fifty-two week high of C$3.28.

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