Greenlane Holdings (GNLN) Receives a Buy from Canaccord Genuity

Canaccord Genuity analyst Derek Dley maintained a Buy rating on Greenlane Holdings (GNLN) yesterday and set a price target of $5.00. The company’s shares closed last Tuesday at $3.59.

According to, Dley is a 5-star analyst with an average return of 13.4% and a 59.2% success rate. Dley covers the Consumer Goods sector, focusing on stocks such as Alimentation Couche Tard, Primo Water, and Dollarama.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Greenlane Holdings with a $6.67 average price target, an 84.3% upside from current levels. In a report released yesterday, Northland Securities also maintained a Buy rating on the stock with a $7.00 price target.

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Based on Greenlane Holdings’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $36.27 million and GAAP net loss of $3.51 million. In comparison, last year the company earned revenue of $37.24 million and had a GAAP net loss of $2.99 million.

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Greenlane Holdings, Inc. distributes and supplies vaporization products and accessories for vape shops and dispensaries. It offers packaging, rolling papers, grinders, glass products, and smoking accessories. The company was founded by Aaron LoCascio and Adam Schoenfeld on May 2, 2018 and is headquartered in Boca Raton, FL.

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