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Canopy Growth (CGC) Stock Forecast for 2024, 2025, 2026. Sell or Buy?
Updated: September 8, 2024 (03:26)
Sector: HealthcareThe share price of Canopy Growth Corp. (CGC) now
Analysts predictions
Full report|
This Week
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Neutral | Opinions: Na |
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Previous Week
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Bearish | Opinions: 1 |
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Two Weeks Ago
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Neutral | Opinions: Na |
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Three Weeks Ago
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Neutral | Opinions: Na |
Are you interested in Canopy Growth Corp. stocks and want to buy them, or are they already in your portfolio? If yes, then on this page you will find useful information about the dynamics of the Canopy Growth stock price in 2024, 2025, 2026, 2027, 2028. How much will one Canopy Growth share be worth in 2024 - 2028?
When should I take profit in Canopy Growth stock? When should I record a loss on Canopy Growth stock? What are analysts' forecasts for Canopy Growth stock? What is the future of Canopy Growth stock? We forecast Canopy Growth stock performance using neural networks based on historical data on Canopy Growth stocks. Also, when forecasting, technical analysis tools are used, world geopolitical and news factors are taken into account.
Canopy Growth stock prediction results are shown below and presented in the form of graphs, tables and text information, divided into time intervals. (Next month, 2024, 2025, 2026, 2027 and 2028) The final quotes of the instrument at the close of the previous trading day are a signal to adjust the forecasts for Canopy Growth shares. This happens once a day.
Historical and forecast chart of Canopy Growth stock
The chart below shows the historical price of Canopy Growth stock and a prediction chart for the next month. For convenience, prices are divided by color. Forecast prices include: Optimistic Forecast, Pessimistic Forecast, and Weighted Average Best Forecast. Detailed values for the Canopy Growth stock price can be found in the table below.
Long-term forecasts by years.
Canopy Growth Corp. Analysts predictions review
As of now, Panda has combed through 1 analytical articles which are directly related to CGC from the last 30 days. Out of these, 0 clearly showcase a bullish trend, while 1 see a bearish trend as the more likely scenario, and 0 stay neutral.
To identify the dominant trend, we took into account analytical articles from the past 30 days, spanning from Aug 27, 2024 to Aug 27, 2024.
Canopy Growth Faces Stormy Seas: Liquidity, Leadership, and Regulatory Delays Loom Large
In this review of Pacifica Yield's analytical financial article, we delve into their Bearish stance on CGC stock. Pacifica Yield, a reputable financial analyst, has been contributing since 2015, amassing a substantial body of 979 publications. With a subscriber count of 11,632, their insights enjoy notable popularity within the financial community. Furthermore, the high credibility of Pacifica Yield's viewpoints is underscored by their substantial authority in the field. This combination of extensive expertise, sustained engagement, and authoritative perspective makes their analysis on CGC stock particularly compelling. Read on as we explore the reasons behind their Bearish outlook and its implications for investors.
Key Theses of Canopy Growth Analysis
- Canopy Growth rallied to $15 per share due to DEA's cannabis rescheduling proposal, now delayed to 2025.
- CEO David Klein, responsible for a 97% decline in stock price, will exit in March 2025 and is selling shares.
- Canopy Growth faces liquidity issues, with $143 million in cash and short-term investments as of June 30, 2024.
- First-quarter revenue fell to $48.4 million, down from $57.6 million a year ago.
- Gross profit for the recent first quarter increased to $16.8 million, up 62% year-over-year.
- Net income remained negative at $92.9 million, with cash burn from operations at $38 million.
- Canopy Growth launched a $250 million equity sales program in June to address liquidity issues.
Factors Influencing Canopy Growth's Stock Price
DEA Cannabis Rescheduling Delay
The delay in rescheduling cannabis to Schedule III impacts investor sentiment, postponing potential regulatory tailwinds to 2025. This delay increases uncertainty and could hamper any near-term rally in CGC’s stock.
CEO David Klein's Exit
The planned exit of CEO David Klein and his continued sale of shares may disrupt management continuity and could signal diminishing insider confidence, negatively affecting investor sentiment.
Liquidity Issues
$143 million in cash and short-term investments may not be sufficient to sustain operations, considering the ongoing cash burn. This raises concerns about the company's financial stability and necessitates further capital raising.
First Quarter Revenue Decline
Revenue decline from $57.6 million to $48.4 million year-over-year indicates a shrinking market presence and can discourage potential investors, reflecting poorly on growth prospects.
Gross Profit Increase
An increase in gross profit to $16.8 million and margin expansion to 34.78% favorably affects operating efficiency. However, limited impact as net profits remain negative.
Negative Net Income
Persistent negative net income of $92.9 million highlights operational challenges and deters investment interest, emphasizing the company's struggle with profitability.
Equity Dilution from Sales Program
The $250 million equity sales program dilutes existing shares, potentially lowering stock value. The up to 33% annual dilution rate over the previous three years is a significant factor negatively impacting shareholder equity.
Review the original AnalysisThe Canopy Growth Corporation, together with its subsidiaries, manufactures, distributes and markets cannabis for recreational and medical purposes, primarily in Canada, the United States, Germany and the United Kingdom. It operates in two segments: cannabis, hemp and other consumer products; and hinged rivers. The company’s products include dried cannabis flowers, oils and concentrates, and soft capsules. It offers its products under Tweed, Quatreau, Deep Space, Healing Spectrum, First and Free, Taiwan Dollar, It Works, BioSteel, CraftGrow DNA Genetics, Tokyo Smoke, Changed, Delicious Parcels, Van der Pop, and Beans and Bud brands. The company also provides growth capital and a strategic support platform that pursues investment opportunities in the global cannabis sector. Canopy Growth Corporation has a clinical research partnership with NEEKA Health Canada and the NHL Alumni Association to study the efficacy of CBD-based therapy in alleviating persistent post-exposure symptoms. As of February 14, 2020, she operated 28 cannabis retail stores called Tweed or Tokyo Smoke. The company was formerly known as Tweed Marijuana Inc. and changed its name to Canopy Growth Corporation in September 2015. Canopy Growth Corporation is headquartered in Smits Falls, Canada.
Canopy Growth daily forecast for a month
| Date | Target | Pes. | Opt. | Vol., % |
|---|---|---|---|---|
| Sep 10 | 4.58 | 4.54 | 4.68 | 3.24 |
| Sep 11 | 4.64 | 4.57 | 4.69 | 2.65 |
| Sep 12 | 4.56 | 4.47 | 4.62 | 3.34 |
| Sep 13 | 4.53 | 4.47 | 4.62 | 3.38 |
| Sep 14 | 4.48 | 4.39 | 4.51 | 2.79 |
| Sep 15 | 4.50 | 4.42 | 4.54 | 2.72 |
| Sep 16 | 4.49 | 4.41 | 4.53 | 2.60 |
| Sep 17 | 4.50 | 4.44 | 4.56 | 2.58 |
| Sep 18 | 4.46 | 4.43 | 4.54 | 2.51 |
| Sep 19 | 4.36 | 4.33 | 4.39 | 1.45 |
| Sep 20 | 4.34 | 4.23 | 4.39 | 3.66 |
| Sep 21 | 4.43 | 4.39 | 4.51 | 2.69 |
| Sep 22 | 4.50 | 4.41 | 4.57 | 3.64 |
| Sep 23 | 4.53 | 4.45 | 4.59 | 2.96 |
| Sep 24 | 4.46 | 4.41 | 4.55 | 3.06 |
| Sep 25 | 4.50 | 4.43 | 4.57 | 3.14 |
| Sep 26 | 4.62 | 4.56 | 4.72 | 3.62 |
| Sep 27 | 4.74 | 4.67 | 4.83 | 3.38 |
| Sep 28 | 4.67 | 4.61 | 4.72 | 2.34 |
| Sep 29 | 4.62 | 4.54 | 4.65 | 2.38 |
| Sep 30 | 4.65 | 4.55 | 4.69 | 2.94 |
| Oct 01 | 4.65 | 4.53 | 4.76 | 4.92 |
| Oct 02 | 4.58 | 4.53 | 4.67 | 3.19 |
| Oct 03 | 4.63 | 4.59 | 4.73 | 3.00 |
| Oct 04 | 4.65 | 4.62 | 4.74 | 2.57 |
| Oct 05 | 4.74 | 4.66 | 4.81 | 3.17 |
| Oct 06 | 4.80 | 4.73 | 4.88 | 3.29 |
| Oct 07 | 4.78 | 4.74 | 4.83 | 2.03 |
| Oct 08 | 4.71 | 4.67 | 4.77 | 2.00 |
| Oct 09 | 4.60 | 4.56 | 4.69 | 2.97 |
Canopy Growth Daily Price Targets
Canopy Growth Stock Forecast 09-10-2024.
Forecast target price for 09-10-2024: $4.58.
Positive dynamics for Canopy Growth shares will prevail with possible volatility of 3.141%.
Pessimistic target level: 4.54
Optimistic target level: 4.68
Canopy Growth Stock Forecast 09-11-2024.
Forecast target price for 09-11-2024: $4.64.
Positive dynamics for Canopy Growth shares will prevail with possible volatility of 2.581%.
Pessimistic target level: 4.57
Optimistic target level: 4.69
Canopy Growth Stock Forecast 09-12-2024.
Forecast target price for 09-12-2024: $4.56.
Negative dynamics for Canopy Growth shares will prevail with possible volatility of 3.232%.
Pessimistic target level: 4.47
Optimistic target level: 4.62
Canopy Growth Stock Forecast 09-13-2024.
Forecast target price for 09-13-2024: $4.53.
Negative dynamics for Canopy Growth shares will prevail with possible volatility of 3.266%.
Pessimistic target level: 4.47
Optimistic target level: 4.62
Canopy Growth Stock Forecast 09-14-2024.
Forecast target price for 09-14-2024: $4.48.
Negative dynamics for Canopy Growth shares will prevail with possible volatility of 2.710%.
Pessimistic target level: 4.39
Optimistic target level: 4.51
Canopy Growth Stock Forecast 09-15-2024.
Forecast target price for 09-15-2024: $4.50.
Positive dynamics for Canopy Growth shares will prevail with possible volatility of 2.649%.
Pessimistic target level: 4.42
Optimistic target level: 4.54
CGC (CGC) Monthly Stock Prediction for 2024
| Month | Target | Pes. | Opt. | Vol., % |
|---|---|---|---|---|
| Oct. | 4.90 | 4.60 | 5.46 | 15.87 |
| Nov. | 5.06 | 4.60 | 5.26 | 12.69 |
| Dec. | 5.38 | 5.22 | 5.93 | 12.10 |
Canopy Growth forecast for this year
Canopy Growth Stock Prediction for Oct 2024
An uptrend is forecast for this month with an optimal target price of $4.89664. Pessimistic: $4.60. Optimistic: $5.46
Canopy Growth Stock Prediction for Nov 2024
An uptrend is forecast for this month with an optimal target price of $5.05823. Pessimistic: $4.60. Optimistic: $5.26
Canopy Growth Stock Prediction for Dec 2024
An uptrend is forecast for this month with an optimal target price of $5.3769. Pessimistic: $5.22. Optimistic: $5.93
Canopy Growth (CGC) Monthly Stock Prediction for 2025
| Month | Target | Pes. | Opt. | Vol., % |
|---|---|---|---|---|
| Jan | 5.77 | 5.20 | 6.08 | 14.39 |
| Feb | 5.55 | 5.32 | 5.88 | 9.48 |
| Mar | 6.23 | 5.87 | 6.75 | 13.01 |
| Apr | 7.06 | 6.79 | 7.90 | 14.08 |
| May | 7.16 | 6.52 | 7.89 | 17.29 |
| Jun | 7.60 | 7.00 | 8.15 | 14.11 |
| Jul | 8.43 | 7.83 | 9.02 | 13.17 |
| Aug | 7.28 | 6.93 | 7.67 | 9.68 |
| Sep | 7.09 | 6.25 | 7.61 | 17.89 |
| Oct | 7.76 | 7.24 | 8.01 | 9.60 |
| Nov | 7.91 | 7.26 | 8.66 | 16.17 |
| Dec | 8.64 | 8.13 | 9.51 | 14.45 |
Canopy Growth (CGC) Monthly Stock Prediction for 2026
| Month | Target | Pes. | Opt. | Vol., % |
|---|---|---|---|---|
| Jan | 9.32 | 8.89 | 9.81 | 9.41 |
| Feb | 8.70 | 7.99 | 9.52 | 16.03 |
| Mar | 9.41 | 8.83 | 9.74 | 9.28 |
| Apr | 9.14 | 8.51 | 10.01 | 14.94 |
| May | 8.33 | 7.93 | 8.61 | 7.84 |
| Jun | 7.82 | 7.42 | 8.58 | 13.53 |
| Jul | 8.32 | 7.98 | 8.89 | 10.24 |
| Aug | 7.37 | 7.11 | 7.94 | 10.44 |
| Sep | 7.43 | 6.59 | 8.05 | 18.15 |
| Oct | 6.93 | 6.68 | 7.61 | 12.16 |
| Nov | 6.81 | 6.55 | 7.28 | 9.96 |
| Dec | 6.45 | 6.10 | 7.06 | 13.57 |
Canopy Growth information and performance
1 HERSHEY DRIVE, SMITH FALLS, ON, CA
Market capitalization of the Canopy Growth Corp. is the total market value of all issued shares of a company. It is calculated by the formula multiplying the number of CGC shares in the company outstanding by the market price of one share.
EBITDA of Canopy Growth is earnings before interest, income tax and depreciation of assets.
P/E ratio (price to earnings) - shows the ratio between the price of a share and the company's profit
Price/earnings to growth
Dividend Per Share is a financial indicator equal to the ratio of the company's net profit available for distribution to the annual average of ordinary shares.
Dividend yield is a ratio that shows how much a company pays in dividends each year at the stock price.
EPS shows how much of the net profit is accounted for by the common share.
Trailing P/E depends on what has already been done. It uses the current share price and divides it by the total earnings per share for the last 12 months.
Forward P/E uses projections of future earnings instead of final numbers.
Enterprise Value (EV) /Revenue
The EV / EBITDA ratio shows the ratio of the cost (EV) to its profit before tax, interest and amortization (EBITDA).
Number of issued ordinary shares
Number of freely tradable shares
Shares Short Prior Month - the number of shares in short positions in the last month.
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Commentary
Over the next 15 days, the stock is likely to face downward pressure driven by the immediate impact of these liquidity issues and the negative sentiment from CEO Klein’s exit. In the coming month, the average influence strength of these factors, particularly liquidity and potential dilution from the $250 million equity sales program, points towards a bearish trend. Investors should be cautious as Canopy Growth strives to stabilize financially and operationally amid these turbulent times.