Finally, the US presidential election is behind us, the incoming Biden administration promises to cultivate a “no drama” strategy, a split Congress is unlikely to pass any progressive legislation, changes or anything else, and COVID vaccinations are ready for widespread acceptance already. This is a formula for a backdrop of calm news.
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This is the best moment for stocks to be purchased on the stock exchange. Investors should speculate on coffee grounds or research actual results, taking advantage of a time of quiet to make a reasonable decision regardless of the form of market analysis they choose.
Laird Superfood, Inc (LSF) is a stock exchange newcomer that only went public in September of last year. The company manufactures and sells a large variety of food ingredients and snack based on plants, and is best known for its brand of non-dairy specialty coffee creamers. Laird is targeted at clients who want their diet to diversify.
The business announced financial performance for the third quarter after the September IPO. Revenue amounted to $7.6 million which was very high, beating the estimate by more than 26%. Moreover, relative to previous year, the outcome improved by 118%. Online revenue growth of 115 percent YoY was also reported by the firm. E-commerce currently accounts for 49 percent of Laird’s net revenue, which during the pandemic was not unexpected.
Canaccord analyst Robert Burleson is hopeful. We continue to see LSF as an attractive platform to take advantage of strong growth trends in demand for plant-based products, noting the competitively differentiated multi-channel approach of LSF. We expect LSF to be able to leverage its brand and vertically integrated operations over time to achieve success in a wide range of categories of plant-based products, resulting in a wide range of plant-based product categories.
By setting a price target of $70, Burleson recommends a “Buy” for the stock. This forecast suggests the likelihood that the stock would raise by 53 percent throughout the year.
In their recommendation to buy, three Wall Street analysts are unanimous. The $62.33 average price target indicates this year’s expected rise of 37 percent.