SNDL Stock Forecast 2023: Is SNDL a Buy or a Sell?

SNDL Stock Forecast 2023: Is SNDL a Buy or a Sell?

SNDL Stock Forecast: SNDL is marginally bullish and the trade recommendation is a hold. The 12-month SNDL Stock Prediction is $5.18


SNDL Stock Price

SNDL Stock Price Prediction for the next 12 months

Average SNDL Stock Forecast for the next 12 Months$5.18
Cantor Fitzgerald$3.56
BMO Capital$7
Canaccord Genuity Group$5

SNDL Stock Technical Analysis

SNDL Stock has failed to maintain the momentum that it had gained in the initial trading days of January 2023. From being on the verge of sliding below $2, the SNDL stock price surged and it looked comfortably placed to breach $2.5. However, the stock is once again on a downtrend and there is no reversal, SNDL is likely to fall below $2.

The below chart shows the performance of SNDL in 2023:

image 567

Performance on the last Trading Day

  • Open Price: $2.29
  • Close Price: $2.23
  • Gain/Loss: -2.62%
  • Overall Market Cap: $581,361,000
image 568

SNDL is trading within the bearish channel. However, a reversal in the SNDL price can be noticed on the last trading day after testing the 50-day Moving average which is around $2.17. SNDL closed lower on the last trading day, however, on the next trading day SNDL is likely to open higher.

On the above 4-hour timeframe chart, SNDL is trading above the 50-day while the 200-day moving average which is around $2.38 is acting at the first resistance level for SNDL. SNDL is likely to see a reversal. More buyers are expected to enter the market.

The RSI for SNDL is 47.41. The RSI is below the 14-day but a reversal towards the over brought territory can be noticed. This indicates a bullish movement with more buyers.

Overall SNDL is marginally bullish.

image 569

The Stochastic RSI and the MACD chart are throwing a bearish signal. The Stoch RSI shows SNDL is oversold. However, with consolidation happening, reversal is on the card.

On the MACD chart, the MACD series proper line crossed the 9-day MA from above, and now it is moving lower. The signal is a sell.

Indicators:

  • Moving Averages: Buy
  • RSI: Buy
  • Stochastic RSI: Oversold
  • MACD: Sell

Overall: Buy

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

Overall OutlookNegative
1. Market's WisdomPartially Negative
1a. Market DataNeutral
1b. Technical RecommendationSell
2. Crowd's WisdomPartially Negative
2a. Social Media BuzzLower
2b. Social Media SentimentNeutral

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

Subhash

Subhash

Subhash, Founder of Crowdwisdom360 is an MBA and a Trained Financial Advisor with an extensive background in Forecasting in Financial Services and Politics. He has appeared many times on National TV and has written for a variety of magazines on Wealth Management and Election Strategy.

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