SNDL Stock Forecast 2023: Will SNDL Reach $3?

SNDL Stock Forecast: SNDL is marginally bullish and the trade recommendation is a hold. The 12-month SNDL Stock Prediction is $4.28

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SNDL Stock Price

SNDL Stock Price Prediction for the next 12 months

Average SNDL Stock Forecast for the next 12 Months	$4.28
Cantor Fitzgerald	$3.56
Canaccord Genuity Group	$5

Performance

• 5 Day: -9.25%
• 1 Month: 0.00%
• 3 Months:-22.66%
• 52 Weeks: -66.24%

SNDL Stock Technical Analysis

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Performance on the last Trading Day

The stock opened at 1.66 and some hours of trading later showed a little upside to touch its day’s high at 1.76 and then fell to a day’s low of 1.65. The stock recovered a little bit and moved up till 1.69 and ended there for the day with a gain. The volume was on the lower side at 1,010,748 when compared to the average of the past 3 months which stands at 3,083,169. 

SNDL Recent Development

SNDL Sales dive in first quarter

For the first quarter ending March 31, 2023, SNDL Inc. (NASDAQ: SNDL) announced its financial performance in Canadian dollars. In comparison to the fourth quarter’s $240.4 million in revenue, the first quarter’s net revenue decreased sequentially to $202.5 million. However, it represented a significant improvement over the $17.6 million in the first quarter of 2021. The acquisitions of Alcanna, Valens, and Zenabis, according to SNDL, were what caused the surge. Due to seasonality in the Liquor Retail segment, where the fourth quarter is normally the highest and the first quarter is typically the weakest, revenue in the first quarter of 2023 was lower than it was in the fourth quarter of 2022. Due to Valens’ half quarter contribution in 2023, an increase in revenue from the Cannabis Operations sector somewhat offset this.

In addition, SNDL reduced its net losses from $161.6 million in the fourth quarter of 2022 to $36.1 million in the current quarter, down from a net loss of $38.0 million in the first quarter of 2022. The seasonal decline in spirits retail sales as well as $10 million in inventory and asset impairments had an impact on the first quarter’s loss.

SNDL Stock Forecast: Q3 Results

• Record net revenue for the third quarter of 2022 of $230.5 million, compared to $223.7 million in the second quarter of 2022 and $14.4 million in the third quarter of 2021.
• Revenue increased by 1,501% year-over-year.
• Liquor Retail: Net revenue of $152.5 million for the third quarter of 2022.
• Cannabis Retail: Net revenue of $66.2 million for the third quarter of 2022.
• Cannabis Operations: Net revenue of $11.8 million for the third quarter of 2022.
• Net loss of $98.8 million for the third quarter of 2022.
• Adjusted EBITDA of $18.3 million for the third quarter of 2022, up 169% from the second quarter of 2022 and up 74% from the third quarter of 2021.
• Gross margin grew to $50.3 million in the third quarter of 2022.

Read full Q3 Result here

SNDL Stock Forecast: Q2 Results

• Revenue of the company took a massive increase in Q2 and it stood at $223.6M with an YoY growth rate of 2250.47% which is exponentially massive as compared to the Q1 data where revenues were at $13.89M.
• The operating expense of the company is very high at -$33M compared to the margins it is earning which is causing a net loss to the company in this quarter. 
• The earnings per share of the company stood at -0.24 with a YoY rate of -965% which is quite a big difference if compared to the other quarters.
• There has also been an unusual expense of $20M which has resulted in a Net loss of $74M with YoY at -34%.
• The Free Cash Flow of the company has reduced from -$21M to to -16M with a YoY of 78.13% which is a good sign for the company in the coming time.
• The segment revenue details tells that the Liquor Retail revenue was $148M, Retail Revenue was $63M, Cultivation and Production at $11M.

Read: Tesla Stock Prediction: TSLA 

SNDL Stock Forecast Today

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

Writer: Vineet Agarwal