Investors are wondering if Tilray (NASDAQ:TLRY) stock is a buy after the release of the marijuana company’s earnings report for its fiscal third quarter of 2022.
Going over that earnings report real quick, results were mixed for Tilray. The company reported diluted earnings per share of 9 cents, which easily beat Wall Street’s estimate of -8 cents. However, the cannabis company’s revenue of $151.87 million comes in below analysts’ estimate of $156.64 million.
Keeping those earnings results in mind, let’s take a look at the most recent analyst ratings covering TLRY stock below!
Is TLRY Stock a Buy After Earnings?
- MKM Partners analyst Bill Kirk starts us off as the analyst continues to hold his “neutral” rating and $8 price target for TLRY.
- Piper Sandler is up next with a “neutral” rating for the pot stock and a price target of $6 per share.
- Canaccord Genuity Group analyst Matt Bottomley weighed in on TLRY stock early last month with a “buy” rating and $9 price target.
For the sake of comparison, the consensus rating for TLRY stock is “hold.” This comes from three “buy” ratings, eight “hold” ratings, and a single “sell” rating for the shares. In addition to that, the consensus price target is sitting at $10, which represents a potential 46.7% upside from yesterday’s close.
TLRY stock is seeing heavy trading today following its earnings report. As of this writing, more than 104 million shares have changed hands. That’s well above its daily average trading volume of 33 million shares.
TLRY stock is up 4.1% as of Wednesday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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