Needham analyst Matt McGinley assigned a Buy rating to Green Thumb Industries (GTBIF) today and set a price target of $12.25. The company’s shares closed last Thursday at $8.00.
According to TipRanks.com, McGinley is a 4-star analyst with an average return of 11.4% and a 65.0% success rate. McGinley covers the Industrial Goods sector, focusing on stocks such as Curaleaf Holdings, Trulieve Cannabis, and Aurora Cannabis.
Currently, the analyst consensus on Green Thumb Industries is a Strong Buy with an average price target of $13.02.
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Based on Green Thumb Industries’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $75.8 million and GAAP net loss of $10.05 million. In comparison, last year the company earned revenue of $20.77 million and had a GAAP net loss of $716.3K.
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Green Thumb Industries is headquartered in Chicago, Illinois, and produces and sells medicinal and recreational cannabis through wholesale and retail channels in the United States. It has a presence in 12 states and operates over 30 cannabis stores under the chains Rise and Essence. Green Thumb is focusing its expansion on limited license states with large populations, and it does not currently export into the global medical market due to U.S. federal prohibition. It offers multiple products under a portfolio of cannabis consumer packaged goods brands, including Dr. Solomon’s, Dogwalkers, and Beboe.
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