Canopy Growth (TSE:WEED) Given a C$2.00 Price Target at Canaccord Genuity Group

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

Several other equities analysts have also recently issued reports on the company. ATB Cormark Capital Markets raised Canopy Growth from a “sector perform” rating to an “outperform” rating and set a C$1.40 price objective for the company in a report on Tuesday, March 17th. Sanford C. Bernstein dropped their target price on shares of Canopy Growth from C$5.30 to C$2.50 in a research 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. Based on data from MarketBeat.com, Canopy Growth currently has a consensus rating of “Moderate Buy” and a consensus target price of C$1.97.

Canopy Growth Stock Down 3.9%

TSE:WEED opened at C$1.23 on Friday. The company has a current ratio of 5.34, a quick ratio of 2.32 and a debt-to-equity ratio of 35.93. Canopy Growth has a twelve month low of C$1.09 and a twelve month high of C$3.28. The company has a market cap of C$520.07 million, a PE ratio of -0.66, a P/E/G ratio of -0.01 and a beta of 1.55. The company’s 50 day moving average is C$1.49 and its two-hundred day moving average is C$1.70.

Canopy Growth (TSE:WEED) last posted its quarterly earnings data on Friday, February 6th. The company reported C($0.18) EPS for the quarter. The company had revenue of C$74.54 million for the quarter. Canopy Growth had a negative return on equity of 52.88% and a negative net margin of 117.31%. Analysts anticipate that Canopy Growth will post -0.69 EPS for the current 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.