reported their first quarter financials after market close on May 12th, reporting revenue of $194.4 million, up 89.5% year over year.
The street high comes from Craig Hallum with a C$74.40 price target, while the lowest comes in at C$45 from Roth Capital.
In Canaccord’s note, their analyst Matt Bottomley increases their 12-month price target to C$54, up from C$52, and reiterates their strong buy rating.
For earnings, the company now is running at an annual run rate of U$778 million in revenue and U$286 million in EBITDA.
The beat is primarily attributed to the company opening five new stores during the quarter, two in Pennsylvania, one in Illinois, one in New Jersey, and one in California.
Bottomley says that Green Thumb has a healthy cash position, with the company ending the quarter at U$267 million in cash, with an additional $157 million closed during the second quarter.
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