In a report released today, Matt McGinley from Needham assigned a Buy rating to Curaleaf Holdings (CURLF), with a price target of $18.50. The company’s shares closed last Monday at $16.75, close to its 52-week high of $18.38.
According to TipRanks.com, McGinley is a 5-star analyst with an average return of 121.3% and a 85.4% success rate. McGinley covers the Basic Materials sector, focusing on stocks such as Green Thumb Industries, Trulieve Cannabis, and Aurora Cannabis.
Curaleaf Holdings has an analyst consensus of Strong Buy, with a price target consensus of $19.49, implying a 14.8% upside from current levels. In a report issued on February 25, Stifel Nicolaus also maintained a Buy rating on the stock with a C$32.25 price target.
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Based on Curaleaf Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $182 million and GAAP net loss of $9.34 million. In comparison, last year the company earned revenue of $61.82 million and had a GAAP net loss of $6.84 million.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CURLF in relation to earlier this year.
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Curaleaf Holdings, Inc. is a life science company, which engages in owning and managing licensed cannabis businesses which cultivate, process and/or dispense cannabis and cannabis derived products. It operates through Cannabis Operations and Non-Cannabis Operations segments. The Cannabis Operations segment production and sale of cannabis via retail and wholesale channels. The Non-Cannabis Operations segment provides professional services including cultivation, processing and retail know-how, and back office administration, intellectual property licensing,real estate leasing services, and lending facilities to medical and adult-use cannabis licensee. The company was founded on November 13, 2014 and is headquartered in Vancouver, Canada.