Sundial Growers stock price forecast for 2023 and beyond

Cannabis producer Sundial Growers is one of the weed industry's most popular meme stocks. On this page, find out the latest analyst SNDL stock price forecasts for the years ahead.
Updated: Oct 13, 2022

This beginner friendly guide explores the latest expert Sundial Growers stock price forecasts. Including both long and short term forecasts, use this page to find out where the analysts see its price trading over the next decade. 

SNDL stock forecast & price target

The majority of analysts view SNDL as hold. As it has fallen into the meme stock category, not many investment professionals have expressed opinions on its future. The few that have don’t see much upside in its share price. Below we’ve provided a short summary of the latest analyst forecasts. Continue scrolling for year specific predictions.

StockAverage price targetHighest targetLowest targetMajority guidance
Sundial Growers$0.80$0.97$0.60Hold
Analyst price targets for Sundial Growers stock, updated 08 April 2022

Expert forecasts on the future of Sundial Growers (SNDL)

Below are a few quotes from  some of the most prominent expert opinions on the future of Sundial Growers.

In our view, Sundial is a very different business from a year ago, and the rise of a new Sundial led by (chief executive officer) Zach George and team could present an attractive opportunity for investors,”

David Kideckel, ATB Capital, $0.80 target

A lot of opportunity for the company to drive product innovation efforts.”

Shaan Mir, Cannacord, $0.80 target

Short term SNDL forecast

Expert opinions on SNDL are positive for the short term. All analysts who have provided a forecast agree that its price may rise. How high it will go is open for debate. Some experts expect it to more than double, while others anticipate a slow push up. Below we’ve included Sundial Growers’ price forecasts for the next few years. 

Sundial Growers stock price prediction 2022

Sundial Growers stock could be worth $0.80 in 2022. An average growth rate of 37% taken from the latest analyst forecasts gives that figure. If it does get to $0.80, it would still be short of its early 2022 high. 

Sundial Growers stock price prediction 2023

SNDL’s stock price forecast for 2023 is $1.09. That’s if it continues to grow at an average rate of 37% per year. If it does get that high, its price would slightly exceed the most bullish of forecasts. 

Long term SNDL forecast

Not many analysts have provided a long term SNDL stock price forecast. Its meme stock status and large retail investor interest means its price can be volatile. A lot of factors can move its share price widely like short squeezes, so it’s important to remember longer term predictions are more speculative in nature. 

Sundial Growers price prediction 2024

By 2024, experts predict Sundial Growers’ price to be between $1 – $1.50. Although by then it may have been axed from the Nasdaq as its price has fallen below the minimum threshold. If that’s the case, its price would likely be much lower than forecasted. 

Sundial Growers price prediction 2025

Some analysts expect SNDLs price to be above $2 by 2025. Its acquisition of Alcanna means it’s Canada’s largest cannabis retail network. Cash Flow and revenues are expected to grow following the deal and its share price is expected to move higher as a result. 

Sundial Growers price prediction 2030

Its price is anticipated to be above $4 when the new decade starts. That would take it to the high it reached following the retail short squeeze in 2021. However, it’s important to remember predictions this far ahead are purely speculative and a lot can affect its price in the coming years. 

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What affects the price of SNDL?

Sundial Growers’ is a meme stock so its price can be impacted by retail investors. Other factors include sales, revenues, and profits. Below we’ve included a few of the key things to look out for when analysing the business and its share price. 

  • Reddit. In 2021 a group of retail investors from a Reddit forum known as Wall Street Bets forced a short squeeze. A surge of new money was pumped into the company causing wild swings in its price. Any further action from Reddit investors could move its price again.  
  • Short interest. The Wall Street Bets short squeeze occurred after retail investors saw a large amount of short positions in the company. If its short interest rises once again, another squeeze could happen. Keeping track of its open short interest is one way to stay ahead and avoid any potential volatility. 
  • Sales. Its acquisition of Alcanna not only means its the largest cannabis retail operator in Canada, but it also owns the largest private liquor business in the country. Following the deal it’s expected to become free cash flow positive which will allow it to expand, without going to shareholders. 
  • Nasdaq listing. It is currently facing the prospect of having its nasdaq listing axed after its share price dropped below the minimum threshold. In order for it to stay listed, it needs to trade above $1 for 10 consecutive days. If it fails, its board has hinted at a reverse stock split which would help it retain its listing. 

How has the Sundial Growers price changed over time?

It’s been trending in one direction since it came to the market; down. Back in 2019 its shares were trading at over $10. In 2022, the same shares are below $1 and not only is it classed as a meme stock, but also a penny stock. Despite a short squeeze in 2021 that saw its price spike, it has continued its grind lower since. 

What should I do now?

You can check out our guide on how to buy Sundial Stock if you’re ready to invest. Alternatively, visit our investing hub where you can learn more about stock investing through one of our free courses. Whatever you decide to do, make sure you keep up to date with the latest news on the links below.

Latest Sundial Growers news

On Friday, Sundial Growers Inc. (NASDAQ:SNDL) shares surged more than 20% after reporting its most recent quarterly results. The company reported its fiscal third-quarter results before markets opened, missing analyst expectations on revenue. However, Sundial’s announcement of a C$100 million share repurchase program helped to drive…
Sundial Growers Inc (NASDAQ: SNDL) increased by 20% and recently reported its third-quarter operational and financial results for 2021. The company also announced that a new and innovative share repurchase program had been approved by its BoD (Board of Directors). This program allows Sundial to repurchase a limit…
Cronos Group Inc (NASDAQ: CRON) remains in the focus of investors after New Cannabis Ventures reported that the Altria Group Inc (NYSE: MO) could buy the remaining outstanding shares of the cannabis company. Cronos Group shares advanced above $6.7 after this news but, shares have weakened from their recent…

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Prash Raval
Financial Writer
When not researching stocks or trading, Prash can be found either on the golf course, walking his dog or teaching his son how to kick a… read more.