Tracking the Current Consensus Price Target for Canopy Growth Corporation (ASX:CGC)

Keeping an eye on shares of Canopy Growth Corporation (ASX:CGC), we see that the current average price target is $29.13. Wall Street analysts have the ability to produce price target estimates for where they think the stock is heading. Because price target projections vary from one analyst to another, they may span a wide range of values. Many investors choose to monitor target prices, and they will pay extra close attention when there are updates. Investors might choose to lean heavily on analyst reports and  target projections when doing their own stock research.

Investors hope that they won’t have to deal with stock picks that don’t pan out, but this happens quite often in the stock market. At some point, the investor may have to make the tough decision to sell a stock that previously had a lot of upward potential. Holding onto an underperforming stock can sometimes hurt the portfolio. Investors may be hesitant to let go of the stock long after it should have been sold. Tracking the underlying fundamentals can assist the investor with figuring out the proper time to buy or sell a particular stock. Mastering this aspect of investing may come with experience, but it may be highly beneficial for the long-term success of the portfolio.

Looking at some recent stock price activity for Canopy Growth Corporation (ASX:CGC), we have spotted shares trading near the $29.61 level. Looking at some popular historical levels, we note that the 52-week high is presently $35.96, and the 52-week low is currently $6.07. When the stock is trading close to the 52-week high or 52-week low, investors may pay extra attention to see if there will be a move through that level. Looking back over the last 12 weeks, the stock has moved 20.44%. Heading back to the start of the year, we can see that shares have moved 25.17%. Over the past 4 weeks, shares have seen a change of 0.2%. Over the last 5 trading sessions, the stock has moved -3.89%.

Covering analysts are looking for Canopy Growth Corporation (ASX:CGC) to report a current quarter EPS of -0.05 when the company issues their next earnings report. This is the consensus estimate using analysts taken into consideration by Zacks Research. This estimate includes 1 sell-side analysts. For the previous reporting period, the company posted a quarterly EPS of -0.1. Investors will be closely tracking how close the actual comes to the consensus estimate. Analysts covering the stock are usually very busy during earnings periods. Before the release, they might be revising estimates. After the earnings release, they will closely review the information and update accordingly.

Street analysts often provide stock recommendations for companies that they track. According to analysts polled by Zacks Research, the current average rating on shares of Canopy Growth Corporation (ASX:CGC) is 2.8. This average rating includes analysts who have given Buy, Sell and Hold ratings on the name. This rating uses a numerical scale from 1 to 5. A 1 would indicate a Buy recommendation, and a score of 5 would point to a Sell recommendation. Out of all the analysts offering recommendations, 2 have rated the stock a Strong Buy or Buy.