S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
Stock market today: Wall Street drifts to a mixed finish as yields tick higher
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
These are the Top 4 Stocks for Buybacks in 2024
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
'There is no time to waste': EU leaders want to boost competitiveness to close gap with US and China
S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
Stock market today: Wall Street drifts to a mixed finish as yields tick higher
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
These are the Top 4 Stocks for Buybacks in 2024
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
'There is no time to waste': EU leaders want to boost competitiveness to close gap with US and China
S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
Stock market today: Wall Street drifts to a mixed finish as yields tick higher
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
These are the Top 4 Stocks for Buybacks in 2024
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
'There is no time to waste': EU leaders want to boost competitiveness to close gap with US and China
S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
Stock market today: Wall Street drifts to a mixed finish as yields tick higher
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
These are the Top 4 Stocks for Buybacks in 2024
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
'There is no time to waste': EU leaders want to boost competitiveness to close gap with US and China
NASDAQ:CGC

Canopy Growth (CGC) Stock Price, News & Analysis

$7.83
+1.34 (+20.65%)
(As of 04/18/2024 ET)
Today's Range
$6.41
$8.20
50-Day Range
$2.77
$10.89
52-Week Range
$2.76
$19.20
Volume
16.78 million shs
Average Volume
9.80 million shs
Market Capitalization
$713.39 million
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$4.87

Canopy Growth MarketRank™ Stock Analysis

Analyst Rating
Reduce
1.50 Rating Score
Upside/​Downside
37.8% Downside
$4.87 Price Target
Short Interest
Bearish
15.56% of Float Sold Short
Dividend Strength
N/A
Sustainability
-0.83
Upright™ Environmental Score
News Sentiment
0.88mentions of Canopy Growth in the last 14 days
Based on 20 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
Growing
From ($6.14) to ($1.25) Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

0.83 out of 5 stars

Medical Sector

831st out of 919 stocks

Medicinals & Botanicals Industry

9th out of 9 stocks

CGC stock logo

About Canopy Growth Stock (NASDAQ:CGC)

Canopy Growth Corporation is a renowned player in the cannabis industry. The company has its headquarters in Smiths Falls, Ontario, Canada, and is dedicated to enhancing lives through cannabis. Canopy Growth's mission revolves around delivering top-quality cannabis products and services that cater to the needs of both medical and recreational consumers.

Canopy Growth Corporation operates in the cultivation and distribution of various cannabis products, catering to both medical and recreational users. The company has established itself as a leading producer of cannabis products, offering a wide range of options to meet the diverse needs of its customers. From dried cannabis flowers to oils, soft gel capsules, and edibles, Canopy Growth provides a comprehensive selection of products to deliver consistent, high-quality experiences.

The company's target market encompasses a broad spectrum of individuals seeking the therapeutic benefits of cannabis, including those with medical conditions and those who consume cannabis for recreational purposes. Canopy Growth aims to destigmatize cannabis and promote its potential benefits across society by offering safe, reliable, innovative products.

Canopy Growth Corporation's key customers can be described as a mix of medical patients and adult consumers who value quality and reliability in their cannabis products. Medical patients rely on Canopy Growth for consistent and effective treatments, while recreational users appreciate the company's commitment to delivering a premium cannabis experience.

The company has achieved several significant milestones and garnered recognition for its contributions to the industry. Canopy Growth Corporation has been at the forefront of cannabis research and development, pioneering innovative cultivation techniques and product formulations. The company's dedication to quality and innovation has earned it numerous awards and accolades, further solidifying its position as a leader in the cannabis industry.

Canopy Growth Corporation boasts a competent management team that brings a wealth of expertise to the company. Under the leadership of Chief Executive Officer David Klein, the team combines diverse professional backgrounds to drive the company's operations effectively. 

The management team comprises individuals with extensive experience in various fields, including cannabis cultivation, pharmaceuticals, finance, and marketing. Each team member contributes unique expertise to guide the company's strategic direction, foster innovation and ensure operational excellence.

Canopy Growth Corporation's financial performance reflects the dynamic nature of the cannabis industry. The company has experienced fluctuations in revenue metrics as market conditions and regulations evolve. Analyzing long-term trends and broader industry benchmarks is crucial to comprehensively understand the company's financial position.

Over the past few years, Canopy Growth Corporation has demonstrated the ability to generate revenue driven by increasing consumer demand and expanding market opportunities. The company's revenue metrics reflect its market leadership and the widespread acceptance of its products.

Earnings metrics provide insights into Canopy Growth Corporation's profitability. As the cannabis industry undergoes rapid growth and regulatory changes, the company's earnings can fluctuate due to increased investments in research and development, marketing initiatives, and compliance with evolving regulations.

Profit margin metrics reflect the company's ability to generate sustainable returns. Canopy Growth Corporation has been focused on improving operational efficiency and optimizing its cost structure to enhance profitability. Evaluating profit margin metrics in the context of the company's ongoing investments and growth strategies is essential.

Debt levels are also important factors to consider in assessing the financial health of Canopy Growth Corporation. Responsible debt management ensures a balanced financial position, enabling the company to pursue growth opportunities while mitigating potential risks. By maintaining a prudent approach to debt, Canopy Growth Corporation aims to maintain financial stability and create long-term value for its shareholders.

Analyzing Canopy Growth Corporation's recent stock performance provides valuable insights into investor sentiment and market conditions. Various factors, including regulatory changes, industry news, macroeconomic trends, and investor perception of the cannabis sector, influence the company's share price.

Canopy Growth Corporation has experienced fluctuations in its stock price, reflecting the volatility and evolving nature of the cannabis industry. Monitoring the company's stock performance is vital to understand its market position and growth potential better. Investors can make informed decisions about their investments by analyzing the underlying factors contributing to the company's stock performance.

Canopy Growth Corporation operates within the broader cannabis industry, which has witnessed rapid expansion and evolving regulations. Several factors influence the company's competitive positioning, including brand reputation, product portfolio, distribution network, and research capabilities.

As a market leader, Canopy Growth Corporation enjoys advantages from early market entry and established partnerships. The company has built a strong brand that resonates with consumers seeking reliable, high-quality cannabis products. Canopy Growth's extensive distribution network ensures widespread market access and customer reach.

The cannabis industry is also characterized by intense competition and regulatory complexities. Canopy Growth Corporation faces competition from established players and emerging companies vying for market share. The evolving regulatory landscape presents challenges and uncertainties that require continuous adaptation and compliance efforts.

Despite these challenges, Canopy Growth Corporation remains well-positioned due to its brand recognition, established market presence, and commitment to research and development. The company's focus on innovation, strategic partnerships, and diversification efforts allows it to maintain a competitive edge in the industry.

Canopy Growth Corporation is poised to capitalize on numerous growth opportunities within the cannabis sector. As the industry expands and regulations evolve, the company can leverage its established brand, extensive distribution channels, and product innovation to capture market share.

One significant growth opportunity lies in the increasing acceptance of cannabis for medical purposes. Canopy Growth Corporation's strong presence in the medical cannabis market positions it to cater to the growing demand for therapeutic products. The company can tap into this market segment's potential by developing innovative treatment options and expanding its medical product portfolio.

Additionally, the ongoing global trend toward cannabis legalization opens up new markets and opportunities for Canopy Growth Corporation. The company's strategic partnerships, acquisitions, and geographic expansion efforts allow it to establish a presence in emerging markets and gain a competitive advantage.

Canopy Growth Corporation's focus on research and development presents opportunities for product innovation and differentiation. By investing in scientific research, the company can develop new cannabis-based formulations, delivery methods, and applications, further expanding its product offerings and addressing evolving consumer needs.

Despite its promising position in the cannabis industry, Canopy Growth Corporation faces risks and challenges that must be carefully managed. Domestic and international regulatory changes can significantly impact market dynamics and introduce uncertainties. The evolving nature of cannabis regulations, particularly in different jurisdictions, creates compliance, licensing, and product distribution challenges.

The intense competition within the cannabis industry is another significant challenge. As the market expands, more players enter the space, intensifying competition for market share. To maintain a competitive edge, Canopy Growth Corporation must continue differentiating itself through product quality, brand reputation, and innovative offerings.

The complex and evolving nature of the cannabis industry also poses risks related to market volatility and investor sentiment. The industry's growth potential attracts significant attention, but it is also subject to market fluctuations and changing investor sentiment, which can impact stock prices and overall market performance.

In response to these risks and challenges, Canopy Growth Corporation has implemented robust risk management strategies. The company maintains comprehensive compliance programs to ensure adherence to evolving regulations and standards. Additionally, Canopy Growth Corporation's focus on research and development, innovation, and strategic partnerships helps mitigate risks by fostering product differentiation, market expansion, and adaptability.

Furthermore, the company's commitment to sustainable and responsible business practices positions it favorably in an industry where environmental, social, and governance considerations are becoming increasingly important.

CGC Stock Price History

CGC Stock News Headlines

Cannabis: One Stock to Play the Movement (CGC)
With talk of decriminalizing marijuana once again becoming part of the national conversation, there's one cannabis ETF that may provide the best value
Green Gold Rush: Here's What's Driving Cannabis Stocks Higher
Various themes and sectors garnered buzz and attention as the first quarter drew to a close. However, one industry that has been in a lull for a significant period reignited the imagination and hope of longstanding investors after it finished the first quarter in style.
Biden’s $374B Giveaway Into This Sector
Biden’s Climate Bill Could Send Your Retirement Accounts Soaring – Or Diving See what this $374B giveaway could mean for your retirement right here
Green Gold Rush: Here's What's Driving Cannabis Stocks Higher
Over the previous month, several cannabis stocks surged dramatically, igniting the sector as gains reached double- to even triple-digits in some cases.
2 Cannabis Stocks Clawing Back from the Grave, Germany Legalizes
Cannabis stocks were a bubble that exploded in 2021. The hype associated with anxious states legalizing cannabis and hopes for the federal repeal of marijuana
Biden’s $374B Giveaway Into This Sector
Biden’s Climate Bill Could Send Your Retirement Accounts Soaring – Or Diving See what this $374B giveaway could mean for your retirement right here
The 3 Best Cannabis Stocks to Buy Now: Q2 Edition
Canopy Growth: Buy, Sell, or Hold?
Canopy Growth (NASDAQ:CGC) Trading Down 4.3%
CGC Stock Is on Watch Amid ‘Canopy USA' Vote
Where Will Canopy Growth Be in 10 Years?
Why Marijuana Stocks Got Burnt Today
Smart Money Is Betting Big In CGC Options
The 5 Biggest Buyers of Canopy Growth (CGC) Stock
See More Headlines
Receive CGC Stock News and Ratings via Email

Sign-up to receive the latest news and ratings for Canopy Growth and its competitors with MarketBeat's FREE daily newsletter.

Company Calendar

Last Earnings
2/09/2024
Today
4/18/2024
Next Earnings (Estimated)
6/27/2024
Fiscal Year End
3/31/2025

Industry, Sector and Symbol

Sector
Medical
Industry
Medicinals & botanicals
Sub-Industry
N/A
Current Symbol
NASDAQ:CGC
Fax
N/A
Employees
1,621
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$4.87
High Stock Price Target
$6.60
Low Stock Price Target
$3.00
Potential Upside/Downside
-25.0%
Consensus Rating
Reduce
Rating Score (0-4)
1.50
Research Coverage
4 Analysts

Profitability

Net Income
$-2,479,930,000.00
Net Margins
-326.75%
Pretax Margin
-295.77%

Debt

Sales & Book Value

Annual Sales
$304.79 million
Book Value
$11.14 per share

Miscellaneous

Free Float
90,796,000
Market Cap
$591.30 million
Optionable
Optionable
Beta
1.39
10 Best Stocks to Own in 2024 Cover

Click the link below and we'll send you MarketBeat's list of the 10 best stocks to own in 2024 and why they should be in your portfolio.

Get This Free Report

Key Executives

  • Mr. David Eric Klein (Age 60)
    CEO & Director
    Comp: $1.76M
  • Ms. Judy Eunjoo Hong (Age 52)
    CFO & Principal Accounting Officer
    Comp: $558.39k
  • Dr. Christelle Gedeon L.L.B. (Age 42)
    Ph.D., Chief Legal Officer & Corporate Secretary
    Comp: $390.26k
  • Mr. Jonathan Di Tosto
    Chief Operations Officer
  • Mr. Thomas Shipley IV (Age 35)
    Senior VP of Quality Assurance & Chief Science Officer
  • Jason Green
    Head of Agriculture - Hemp Division
  • Mr. Chris Edwards
    Chief Insights Officer
  • Ms. Tara Rozalowsky
    Interim Chief Product Officer
  • Mr. Dave Paterson
    President of Canada
  • Mr. Jurgen Bickel
    MD and Co-Founder of STORZ & BICKEL GmbH

CGC Stock Analysis - Frequently Asked Questions

Should I buy or sell Canopy Growth stock right now?

4 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Canopy Growth in the last twelve months. There are currently 2 sell ratings and 2 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "reduce" CGC shares.
View CGC analyst ratings
or view top-rated stocks.

What is Canopy Growth's stock price target for 2024?

4 analysts have issued 12-month price objectives for Canopy Growth's stock. Their CGC share price targets range from $3.00 to $6.60. On average, they expect the company's stock price to reach $4.87 in the next year. This suggests that the stock has a possible downside of 37.8%.
View analysts price targets for CGC
or view top-rated stocks among Wall Street analysts.

How have CGC shares performed in 2024?

Canopy Growth's stock was trading at $5.11 at the beginning of the year. Since then, CGC stock has increased by 53.2% and is now trading at $7.83.
View the best growth stocks for 2024 here
.

When is Canopy Growth's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, June 27th 2024.
View our CGC earnings forecast
.

How were Canopy Growth's earnings last quarter?

Canopy Growth Co. (NASDAQ:CGC) released its earnings results on Friday, February, 9th. The company reported ($1.79) earnings per share for the quarter, missing the consensus estimate of ($0.45) by $1.34. The firm had revenue of $57.67 million for the quarter, compared to analysts' expectations of $53.25 million. Canopy Growth had a negative net margin of 326.75% and a negative trailing twelve-month return on equity of 73.48%.

When did Canopy Growth's stock split?

Shares of Canopy Growth reverse split before market open on Wednesday, December 20th 2023. The 1-10 reverse split was announced on Wednesday, December 13th 2023. The number of shares owned by shareholders was adjusted after the closing bell on Tuesday, December 19th 2023. An investor that had 100 shares of stock prior to the reverse split would have 10 shares after the split.

How do I buy shares of Canopy Growth?

Shares of CGC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:CGC) was last updated on 4/18/2024 by MarketBeat.com Staff

From Our Partners