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

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

A number of other research firms have also recently weighed in on WEED. 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. Canaccord Genuity Group set a C$2.00 target price on shares of Canopy Growth and gave the company a “speculative buy” rating in a research report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$1.88.

Canopy Growth Stock Performance

TSE:WEED traded down C$0.06 during trading hours on Tuesday, hitting C$1.33. 2,280,627 shares of the company were exchanged, compared to its average volume of 2,068,207. The stock has a market capitalization of C$562.35 million, a price-to-earnings ratio of -0.72, a PEG ratio of -0.01 and a beta of 1.19. Canopy Growth has a 52-week low of C$1.18 and a 52-week 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 company’s 50 day moving average price is C$1.50 and its 200-day moving average price is C$1.57.

Canopy Growth (TSE:WEED) last announced its quarterly earnings data on Monday, June 15th. The company reported C($0.40) EPS for the quarter. Canopy Growth had a negative net margin of 107.39% and a negative return on equity of 47.41%. The business had revenue of C$71.25 million for the quarter. As a group, research analysts forecast 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.