Green Thumb Industries (OTCMKTS:GTBIF) Price Target Increased to $16.00 by Analysts at Wedbush

Green Thumb Industries (OTCMKTS:GTBIF) had its price objective raised by Wedbush from $15.00 to $16.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective suggests a potential upside of 24.90% from the company’s previous close.

Separately, Needham & Company LLC lifted their target price on Green Thumb Industries from $15.50 to $17.00 and gave the stock a “buy” rating in a report on Thursday.

Green Thumb Industries Stock Up 3.5 %

Shares of OTCMKTS:GTBIF traded up $0.43 during midday trading on Friday, hitting $12.81. The stock had a trading volume of 372,440 shares, compared to its average volume of 530,413. Green Thumb Industries has a 12 month low of $6.42 and a 12 month high of $16.33. The business’s 50-day simple moving average is $13.10 and its 200-day simple moving average is $11.94. The company has a market cap of $2.69 billion, a P/E ratio of 85.40 and a beta of 1.58.

Green Thumb Industries (OTCMKTS:GTBIF) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). Green Thumb Industries had a net margin of 3.44% and a return on equity of 2.13%. The business had revenue of $278.23 million for the quarter, compared to analyst estimates of $270.07 million. As a group, equities analysts predict that Green Thumb Industries will post 0.26 earnings per share for the current year.

About Green Thumb Industries

Green Thumb Industries Inc manufactures, distributes, markets, and sells of cannabis products for medical and adult-use in the United States. It operates through two segments, Retail and Consumer Packaged Goods. The company offers cannabis flower; processed and packaged products, including pre-rolls, concentrates, vapes, capsules, tinctures, edibles, topicals, and other cannabis-related products under the &Shine, Beboe, Dogwalkers, Doctor Solomon's, Good Green, incredibles, and RHYTHM brands.