Curaleaf (OTCMKTS:CURLF) Shares Up 9.3% - Still a Buy?

Key Points

• Curaleaf shares rose 9.3% to $9.04 in Monday trading, although volume was 62% below the stock’s average daily volume.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating from four analysts, but the $6.00 consensus price target is below the current share price; Zacks recently downgraded the stock to “Hold.”
• Curaleaf exceeded quarterly expectations, reporting $0.05 earnings per share versus a forecasted loss of $0.20 and revenue of $340.1 million versus estimates of $332 million, though it remains unprofitable overall.

Curaleaf Holdings, Inc. (OTCMKTS:CURLF - Get Free Report)'s share price traded up 9.3% during trading on Monday. The company traded as high as $9.18 and last traded at $9.04. Approximately 106,001 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 281,288 shares. The stock had previously closed at $8.27.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Zacks Research cut Curaleaf from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 13th. UBS Group set a $6.00 target price on Curaleaf in a report on Monday, October 5th. Finally, Citigroup reiterated a "buy" rating on shares of Curaleaf in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $6.00.

Curaleaf Stock Performance

The stock's fifty day simple moving average is $9.57 and its 200 day simple moving average is $8.29. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -71.45 and a beta of 1.62. The company has a current ratio of 1.52, a quick ratio of 0.73 and a debt-to-equity ratio of 1.06.

Curaleaf (OTCMKTS:CURLF - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.25. The company had revenue of $340.10 million for the quarter, compared to analyst estimates of $332.00 million. Curaleaf had a negative net margin of 2.62% and a negative return on equity of 0.88%. As a group, analysts anticipate that Curaleaf Holdings, Inc. will post 0.01 earnings per share for the current year.

Curaleaf Company Profile

Curaleaf Holdings, Inc is a cannabis company that cultivates, processes, distributes and sells cannabis products for medical and adult-use markets. Its portfolio includes cannabis flower, pre-rolls, vaporizers, concentrates, edibles, tinctures, capsules, topicals and other wellness products, offered under brands such as Curaleaf, Select and Grassroots.

The company serves customers through a network of retail dispensaries and wholesale channels in regulated U.S. cannabis markets. Its operations include cultivation and manufacturing facilities as well as dispensaries, with products distributed in multiple states where medical or adult-use cannabis is permitted.

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