Finding a CBD stock with the financials to back its potential can sometimes be difficult. However, CV Sciences (OTC: CVSI) is a company that actually has the performance figures to bring new investors on board. Currently priced at the bargain end of the market, could this be the cannabis industry stock that you’ve been looking for?
Stock has outperformed the market consistently this year, and it’s still growing. According to FactSet Research, a single top-level analyst has rated this stock a BUY with a 52-week price peak target of $8.00. This could represent a strong gain in the short term, and there could be even more for investors who are willing to buy and hold stock over an extended period.
CV Sciences develops, produces, and markets CBD (cannabidiol) oil products derived from industrial hemp. The company is continuing to invest in the development of cannabinoids that treat various medical conditions and symptoms.
Profitability is strong in the company. It has increased sales revenue for the last two years running. In the 2018 fiscal year, revenue increased 133% to $48.24 million. Gross income increased 133.17% in the same period for a gross profit margin of 69.15%. Few other cannabis-related companies have financials this strong, making this stock a unique pick in a growing market segment.
- 1 Year Price Growth: 1,173.91%
- YTD Price Growth: 96%
- 3 Month Price Growth: 02%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.