GoodFood Stock Forecast, News, Quotes, And History: 2023
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GoodFood Stock Forecast, News, Quotes, and History: 2023

by Cavix   ·  December 4, 2022   ·  

Based in Montreal, Quebec, Goodfood Market Corp., doing business as Goodfood stock, is a Canadian online grocery, home meal, and meal kit provider. As of August 2019, Goodfood had 200,000 subscribers, accounting for 40% to 45% of a meal delivery market. The company’s official website is located at The company’s telephone number is 1(855) 515-5191.

The ticker for it is Goodfood stock just on Toronto Stock Exchange. As a firm with a concentration on meal kits, Goodfood has developed into an online supermarket and provider of home meals. The business sells ready-to-eat foods, grocery goods, breakfast meals, snack foods, and meal kits.

95% of Canadians are reached by Goodfood’s deliveries, which cover the majority of the country. The business changed its name to Goodfood in 2016. Goodfood started trading publicly here on Toronto Stock Exchange in June 2017. $21 million in capital was raised by the deal, which was carried out through a reverse takeover strategy.

Becoming Public

The money received was set aside for expansion, primarily to increase the number of subscribers and the size of the facility at Goodfood. Following the transaction’s completion, Goodfood started trading just on TSX under the symbol FOOD. In order to grow to Calgary, a secondary facility in Montreal, and a new site in Vancouver, the company later secured further equity.

After becoming public, Goodfood saw considerable growth: its subscriber base rose by 35% to 31,000 in the latest quarter on August 31, 2017, and by another 45% to 45,000 in the period ended on November 30, 2017. As of August 31, 2019, Goodfood had 200,000 subscribers, a 125% growth from the previous year.

The number of active subscribers of Goodfood as of November 30, 2020, is 306,000. The number of active subscribers of Goodfood as on February 28, 2021, is 319,000. The CEO of Goodfood responded to acquisition rumors in October 2022 by saying that there were ongoing negotiations but declining to say whether they involved a takeover.

Goodfood Business

Its primary line of business was the preparation and delivery of meal kits to subscribers. Its product line has been expanded to include prepared dinners, grocery items like olive oil, peanut butter, and tea leaves, as well as breakfast items like smoothies and omelettes.

Goodfood introduced Yumm, a less expensive meal kit service with recipes that use fewer ingredients and are easier, as part of its meal kit business. The three main competitors are Cook it, MissFresh, and HelloFresh (headquartered in Germany and including subsidiary Chef’s Plate). Located in Quebec, this grocery behemoth is a division of Metro Inc.

Freshii And Goodfood Market

Freshii And Goodfood Market

Which small-cap consumer cyclical company, Freshii (TSE:FRII) or Goodfood Market (TSE:FOOD), is the greater enterprise? Based on the strength of the two companies’ media sentiment, risks, ownership concentration, valuation, profitability, profits, analyst recommendations, dividends, and community ranking, we will compare and contrast them.

Goodfood Market saw 4 more media mentions than Freshii in the past week. Goodfood Market had 4 mentions from MarketBeat while Freshii received none. The average overall sentiment score for Goodfood Market was 1.03 compared to Freshii’s 0.44, showing that Goodfood Market is receiving more positive press than Freshii.

The current consensus target price for Freshii is C$1.35, representing an upside potential of 46.74%. A consensus target price of C$2.07 for Goodfood Market indicates a potential gain of 318.63%. Analysts clearly think Goodfood Market is better than Freshii given its higher consensus rating and greater potential upside.

When compared by MarketBeat users, Freshii scored 164 more votes for outperformance than Goodfood Market. Similar to how just 50.00% of people gave Goodfood Market an exceed vote, 68.28% of users awarded Freshii an outperform vote.

Which Other Stocks Do Goodfood Market Shareholders Own?

Several companies that other Goodfood Market investors own are Enbridge (ENB), Lightspeed Commerce (LSPD), Manulife Financial (MFC), Toronto-Dominion Bank (TD), Aphria (APHA), BCE (BCE), Bank of Nova Scotia (BNS), Cineplex (CGX), Walt Disney (DIS), and Methanex, according to aggregate data from MarketBeat watchlists (MX).

The past 90 days have seen ratings for Goodfood Market from Canaccord Genuity Group, National Bankshares, Raymond James, Royal Bank of Canada, and Stifel Nicolaus.

Goodfood Comparing

You must sign up for Goodfood services in order to use them. Then, each week, you can choose 2 to 4 foods from the seven that Goodfood has to offer. Then a box containing each of the required items and thorough recipe cards will be sent to you.

Your ingredients are supplied in a package with ice packs and thermal protection to keep the food cold while being transported. If no one is home, the delivery person is instructed to leave the box at your doorstep. After the package is delivered, the majority of the ingredients last for one week.

There are numerous businesses in Canada that provide comparable services to Goodfood. Getting a box filled with fresh supplies and recipe cards sent to your door is still the basic premise. Some stand out when choosing your weekly menu since they offer a few additional possibilities.

Take For instance, Cook It provides ready-to-eat meals in the weekly order (which only need to be heated), whilst MissFresh provides a variety of tea or coffee. Goodfood provides meals for two or four people; MissFresh provides meals for four or six people; and Cook it provides meals for two, three, four, or six people.

What Is The Price Target For Goodfood Market Corp?

C$0.50 is the typical price goal for Goodfood Market Corp. This is based on five 12 month price targets released in the previous three months by Wall Street analysts. The lowest projection is C$0.20, while the maximum expert price objective is C$0.75.

From the current Goodfood stock price of C$0.315, the average price objective reflects an increase of 58.73%. Goodfood Market (TSE:FOOD) does indeed have a market value of C$37.23 million and annual revenue of C$297.59 million. Currently, one piece of FOOD stock costs about $0.50 Canadian. 3,200 people work for the organization globally.

Users of MarketBeat prefer other Consumer Cyclical firms more than Goodfood Market. Goodfood Market had an outperform vote from 50.00% of MarketBeat members versus an average of 65.09% for consumer cyclical firms. Depending on their 12 month price predictions, experts think that the Goodfood stock will rise 18.65%.

How Do I Purchase Goodfood Market Stock?

Through an online brokerage account, one can purchase shares of the Canadian company Goodfood stock as well as other stocks. BMO InvestorLine, CIBC Investor’s Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor, Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers are a few well-known online brokerages with access to the Canadian stock market.

Right Now, Should I Buy Or Sell Goodfood Market Stock?

6 In the past year, Goodfood Market has received “buy,” “hold,” and “sell” evaluations from Wall Street analysts. Currently, the stock has 2 buy ratings, 3 hold ratings, and 1 sell rating. Wall Street experts generally agree that buyers must “hold” Goodfood stock. A hold rating means that experts do not recommend adding to existing positions in FOOD by purchasing new shares or selling existing ones.

Profit Less Goodfood Market

Profit Less Goodfood Market

Shareholders of Goodfood Market Corp. (TSE:FOOD) should be pleased with the 15% increase in Goodfood stock price during the past week. However, that scarcely makes up for the startling decline during the previous 12 months. For example, over the past year, the Goodfood stock has decreased by 89%. So the increase might not be all that comforting.

The fundamental concern is whether the business can change its course. Even while a decrease like that is unquestionably a blow to the body, happiness and health are more essential than money. Since Goodfood Market did not turn a profit in the previous year, it is doubtful that there would be a substantial link between the price of its shares and its per-share earnings (EPS). Revenue is possibly our second best choice. The annual revenue growth for Goodfood Market was zero.

Actually, it dropped 22%. Investors generally don’t want to see it. The 89% decline in the Goodfood stock price over a year reveals the story. That serves as a stark reminder that, at the very least, profitless enterprises need to increase their top line. Markets do, however, occasionally overreact, which presents an opportunity for buyers who are prepared to put in the time to learn more about the company.

A Different Viewpoint

Shareholders in Goodfood Market suffered an 89% loss throughout the past year, while the market as a whole gained only 0.9%. But bear in mind that occasionally, even the strongest equities will perform worse than the market more than a full year. Unfortunately, last year’s performance marked the end of a rough patch for the stockholders, who faced a five-year loss of 8% annually.

Long-term Goodfood stock price declines are typically a poor indicator, yet contrarian investors might wish to investigate the Goodfood stock in anticipation of a recovery. Although it is necessary to take into account the various effects that market conditions may have on the Goodfood stock price, there are other aspects that are even more crucial.

Food Revenue Prediction

Estimated Goodfood profits for the upcoming quarter are between and, with a range of. The EPS for the preceding quarter was C$0.78. In the previous 12 months, Goodfood Goodfood stock forecast its EPS forecast 0.00% of the time, while its industry as a whole topped the EPS forecast 49.23% of the time. FOOD underperformed its industry as a whole over the past year.

The sales Goodfood stock forecast for the upcoming quarter is with a range of. The sales figures for the preceding quarter were C$50.36M. In the last 12 months, Goodfood outperformed sales Goodfood stock forecast by 25.00% while the industry as a whole outperformed Goodfood stock forecast by 52.26%.

Goodfood underperformed its industry as a whole over the past year. Goodfood has gotten 0 Buy, 0 Hold, and 0 Sell recommendations in the most recent month. The average analyst price estimate for Goodfood over the previous three months is C$0.50.

What Is The Expected Stock Price For Goodfood Market In 2023?

The price of Goodfood Market’s stock at the start of the year was C$4.07. Shares of FOOD have dropped 87.8% since then and are currently trading at C$0.50. 6 Market Analysts have provided 12-month price targets for the Goodfood stock.

Their range for the price of FOOD stock is $0.60 to $5.50. They anticipate that during the following 12 months, the Goodfood stock will, on average, rise to C$2.07. This implies a potential increase from the stock’s current market price of 318.6%.

Fair Value Forecast For The Goodfood Market For The Years 2022–2025

Price at Goodfood Market climbed by 100.00% over the previous three years, from C$0.00 to C$0.00. Fair Value is Goodfood stock forecast by analysts to rise during the course of the following year, reaching C$1.26 (an increase of 100.00%). According to the Goodfood Market projection, Fair Value will increase by 100.00% to C$2.58.

Revenue at Goodfood Market climbed by 437.91% during the previous three years, from C$70.50M and C$379.23M. 0 experts predict that Goodfood stock forecast will drop 41.51% in the upcoming year to C$221.82M. By 2030, experts forecast that Goodfood stock forecast would decline to C$275.92M, or 27.24% less than it is today.

Goodfood Market Forecast 2030

Goodfood Market’s Free Cash Flow increased by 676.71% over the previous three years, from C$-4.25M to C$-33.01M. Goodfood stock forecast has a bright future ahead of it as experts expect Free Cash Flow to improve by 103.93% to C$-67.32M in the coming year. Experts predict that Goodfood stock forecast Free Cash Flow can increase at a rate of 160.85% over the next nine years.

The net income of Goodfood Market has increased by 237.12%. Increasing to C$-9.43M to C$-31.79M during the past three years. Analysts Goodfood stock forecast that Net Income will increase by 51.32% to C$-48.10M in the following year. The projected increase in Net Income during the following nine years is 57.42%.

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