Canaccord Genuity Group Increases Grove Collaborative (NYSE:GROV) Price Target to $2.00

Grove Collaborative (NYSE:GROV) had its price objective raised by investment analysts at Canaccord Genuity Group from $1.50 to $2.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 37.93% from the stock’s previous close.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Grove Collaborative in a report on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Grove Collaborative has a consensus rating of “Hold” and a consensus price target of $1.60.

Grove Collaborative Stock Up 2.8%

Shares of NYSE GROV opened at $1.45 on Tuesday. The company has a market cap of $59.46 million, a price-to-earnings ratio of -2.50 and a beta of 1.20. The firm’s fifty day moving average is $1.48 and its 200 day moving average is $1.38. Grove Collaborative has a 52 week low of $1.02 and a 52 week high of $1.95.

Institutional Investors Weigh In On Grove Collaborative

A hedge fund recently raised its stake in Grove Collaborative stock. Vanguard Group Inc. boosted its position in Grove Collaborative Holdings, Inc. (NYSE:GROV) by 6.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,069,804 shares of the company’s stock after purchasing an additional 61,028 shares during the quarter. Vanguard Group Inc. owned approximately 2.61% of Grove Collaborative worth $1,605,000 at the end of the most recent quarter. 91.64% of the stock is currently owned by institutional investors.

About Grove Collaborative

Grove Collaborative Holdings, Inc operates as a plastic neutral consumer products retailer in the United States. It offers household, personal care, beauty, and other consumer products through retail channels, third parties, direct-to-consumer platform, and mobile applications, as well as online store.