Charlotte’s Web (OTCMKTS:CWBHF) Price Target Cut to $1.00 by Analysts at Cowen

Charlotte’s Web (OTCMKTS:CWBHF – Get Rating) had its price objective dropped by analysts at Cowen from $2.00 to $1.00 in a research note issued on Friday, The Fly reports. Cowen’s price objective would indicate a potential upside of 133.95% from the company’s previous close.

Several other equities research analysts also recently issued reports on CWBHF. Piper Sandler cut their target price on shares of Charlotte’s Web from $2.00 to $1.00 in a research note on Friday, March 25th. Canaccord Genuity Group cut their target price on shares of Charlotte’s Web from C$3.00 to C$2.25 and set a “buy” rating for the company in a research note on Wednesday. Benchmark downgraded shares of Charlotte’s Web from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Cantor Fitzgerald cut their target price on shares of Charlotte’s Web from $1.50 to $1.20 and set a “neutral” rating for the company in a research note on Friday, March 25th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Charlotte’s Web has an average rating of “Hold” and an average target price of $2.09.

Charlotte’s Web stock opened at $0.43 on Friday. The firm has a 50-day moving average of $0.94 and a 200-day moving average of $1.13. Charlotte’s Web has a one year low of $0.42 and a one year high of $4.88.

Charlotte’s Web (OTCMKTS:CWBHF – Get Rating) last posted its quarterly earnings data on Monday, May 16th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06).

About Charlotte’s Web (Get Rating)

Charlotte's Web Holdings, Inc engages in farming, manufacturing, marketing, and selling hemp-derived cannabidiol (CBD) wellness products. The company's products categories include hemp extract oil tinctures, such as liquid products; gummies comprising sleep, stress, immunity, and exercise recovery products; and capsules, CBD topical creams, and lotions, as well as products for pets under the Charlotte's Web, CBD Medic, CBD Clinic, and Harmony Hemp brands.

Read More