Canaan (CAN) Stock Forecast, Price Target & Predictions
CAN Stock Forecast
Canaan stock forecast is as follows: an average price target of $2.00 (represents a -13.42% downside from CAN’s last price of $2.31) and a rating consensus of 'Buy', based on 1 wall street analysts offering a 1-year stock forecast.
CAN Price Target
The average price target for Canaan (CAN) is $2.00 based on 1-year price targets from 1 Wall Street analysts in the past 3 months, with a price target range of $2.00 to $2.00. This represents a potential -13.42% downside from CAN's last price of $2.31.
CAN Analyst Ratings
According to 1 Wall Street analysts, Canaan's rating consensus is 'Buy'. The analyst rating breakdown for CAN stock is 0 'Strong Buy' (0.00%), 1 'Buy' (100.00%), 0 'Hold' (0.00%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Canaan Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Sep 18, 2024 | Nick Giles | B.Riley Financial | $2.00 | $1.08 | 85.19% | -13.42% |
The latest Canaan stock forecast, released on Sep 18, 2024 by Nick Giles from B.Riley Financial, set a price target of $2.00, which represents a 85.19% increase from the stock price at the time of the forecast ($1.08), and a -13.42% decrease from CAN last price ($2.31).
Canaan Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | 1 | 1 |
| Avg Price Target | - | $2.00 | $2.00 |
| Last Closing Price | $2.31 | $2.31 | $2.31 |
| Upside/Downside | -100.00% | -13.42% | -13.42% |
In the current month, the average price target of Canaan stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Canaan's last price of $2.31. This month's average price target is down -100.00% compared to last quarter, and down -100.00% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Sep 18, 2024 | B. Riley | Buy | Initialise |
Canaan's last stock rating was published by B. Riley on Sep 18, 2024. The company Initialise its CAN rating from "null" to "Buy".
Canaan Financial Forecast
Canaan Revenue Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | $55.23M | $391.93M | $978.21M | $1.65B | $1.36B |
| Avg Forecast | $154.85M | $145.00M | $122.85M | $105.70M | $80.02M | $72.85M | $51.90M | $30.10M | $34.20M | $30.30M | $70.95M | $63.50M | $39.10M | $149.78M | $255.75M | $213.80M |
| High Forecast | $159.67M | $149.51M | $126.68M | $111.41M | $82.52M | $75.12M | $53.52M | $31.04M | $35.26M | $31.24M | $73.16M | $65.48M | $40.32M | $149.78M | $255.75M | $213.80M |
| Low Forecast | $150.01M | $140.47M | $119.01M | $99.99M | $77.52M | $70.57M | $50.28M | $29.16M | $33.13M | $29.35M | $68.73M | $61.52M | $37.88M | $149.78M | $255.75M | $213.80M |
| # Analysts | 1 | 1 | 1 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | 0.87% | 10.02% | 6.53% | 6.46% | 6.34% |
Canaan's average Quarter revenue forecast for Jun 23 based on 1 analysts is $70.95M, with a low forecast of $68.73M, and a high forecast of $73.16M. CAN's average Quarter revenue forecast represents a 28.46% increase compared to the company's last Quarter revenue of $55.23M (Mar 23).
Canaan EBITDA Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | $-83.11M | $-639.70M | $-266.33M | $667.31M | $581.93M |
| Avg Forecast | $-53.12M | $-49.74M | $-42.14M | $-36.26M | $-27.45M | $-24.99M | $-17.80M | $-10.33M | $-11.73M | $-10.39M | $-24.34M | $-21.78M | $-13.41M | $-51.74M | $-88.34M | $-73.85M |
| High Forecast | $-51.46M | $-48.18M | $-40.82M | $-34.30M | $-26.59M | $-24.21M | $-17.25M | $-10.00M | $-11.36M | $-10.07M | $-23.58M | $-21.10M | $-12.99M | $-51.74M | $-88.34M | $-73.85M |
| Low Forecast | $-54.77M | $-51.29M | $-43.45M | $-38.22M | $-28.31M | $-25.77M | $-18.36M | $-10.65M | $-12.10M | $-10.72M | $-25.10M | $-22.46M | $-13.83M | $-51.74M | $-88.34M | $-73.85M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | 3.82% | 47.69% | 5.15% | -7.55% | -7.88% |
1 analysts predict CAN's average Quarter EBITDA for Sep 22 to be $-51.74M, with a high of $-51.74M and a low of $-51.74M. This is -107.75% lower than Canaan's previous annual EBITDA (Jun 22) of $667.31M.
Canaan Net Income Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Net Income | - | - | - | - | - | - | - | - | - | - | - | $-84.37M | $-438.33M | $46.06M | $608.91M | $441.60M |
| Avg Forecast | $183.55M | $131.82M | $33.30M | $-31.42M | $-151.24M | $-168.62M | $-40.33M | $-80.26M | $-39.32M | $-40.54M | $130.66M | $-162.16M | $-294.76M | $175.66M | $637.65M | $2.81B |
| High Forecast | $190.98M | $137.15M | $34.65M | $-30.14M | $-96.24M | $-161.77M | $-38.70M | $-77.00M | $-37.73M | $-38.89M | $135.95M | $-155.58M | $-282.79M | $175.66M | $637.65M | $3.37B |
| Low Forecast | $176.09M | $126.46M | $31.95M | $-32.69M | $-206.24M | $-175.44M | $-41.97M | $-83.51M | $-40.91M | $-42.18M | $125.35M | $-168.73M | $-306.69M | $175.66M | $637.65M | $2.24B |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | 0.52% | 1.49% | 0.26% | 0.95% | 0.16% |
Canaan's average Quarter net income forecast for Dec 22 is $-294.76M, with a range of $-306.69M to $-282.79M. CAN's average Quarter net income forecast represents a -739.96% decrease compared to the company's last Quarter net income of $46.06M (Sep 22).
Canaan SG&A Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| SG&A | - | - | - | - | - | - | - | - | - | - | - | $19.06M | $170.00M | $156.57M | $166.54M | $150.37M |
| Avg Forecast | $39.08M | $36.60M | $31.01M | $26.68M | $20.20M | $18.39M | $13.10M | $7.60M | $8.63M | $7.65M | $17.91M | $16.03M | $9.87M | $37.80M | $64.55M | $53.96M |
| High Forecast | $40.30M | $37.73M | $31.97M | $28.12M | $20.83M | $18.96M | $13.51M | $7.83M | $8.90M | $7.89M | $18.46M | $16.53M | $10.18M | $37.80M | $64.55M | $53.96M |
| Low Forecast | $37.86M | $35.45M | $30.04M | $25.24M | $19.57M | $17.81M | $12.69M | $7.36M | $8.36M | $7.41M | $17.35M | $15.53M | $9.56M | $37.80M | $64.55M | $53.96M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | 1.19% | 17.23% | 4.14% | 2.58% | 2.79% |
Canaan's average Quarter SG&A projection for Jun 23 is $17.91M, based on 1 Wall Street analysts, with a range of $17.35M to $18.46M. The forecast indicates a -6.06% fall compared to CAN last annual SG&A of $19.06M (Mar 23).
Canaan EPS Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| EPS | - | - | - | - | - | - | - | - | - | - | - | $-0.51 | $-2.61 | $0.36 | $3.53 | $2.57 |
| Avg Forecast | $0.66 | $0.47 | $0.12 | $-0.11 | $-0.54 | $-0.61 | $-0.15 | $-0.29 | $-0.14 | $-0.15 | $0.47 | $-0.58 | $-1.06 | $0.64 | $2.32 | $2.60 |
| High Forecast | $0.69 | $0.49 | $0.12 | $-0.11 | $-0.35 | $-0.58 | $-0.14 | $-0.28 | $-0.14 | $-0.14 | $0.49 | $-0.56 | $-1.02 | $0.64 | $2.32 | $2.60 |
| Low Forecast | $0.63 | $0.46 | $0.12 | $-0.12 | $-0.74 | $-0.63 | $-0.15 | $-0.30 | $-0.15 | $-0.15 | $0.45 | $-0.61 | $-1.11 | $0.64 | $2.32 | $2.60 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | 0.87% | 2.46% | 0.56% | 1.52% | 0.99% |
According to 1 Wall Street analysts, Canaan's projected average Quarter EPS for Dec 22 is $-1.06, with a low estimate of $-1.11 and a high estimate of $-1.02. This represents a -395.02% decrease compared to CAN previous annual EPS of $0.36 (Sep 22).
Canaan Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| DM | Desktop Metal | $3.43 | $5.50 | 60.35% | Hold |
| SMCI | Super Micro Computer | $33.80 | $52.21 | 54.47% | Buy |
| SSYS | Stratasys | $9.99 | $12.50 | 25.13% | Buy |
| DELL | Dell | $118.28 | $145.71 | 23.19% | Buy |
| LOGI | Logitech | $83.66 | $95.25 | 13.85% | Buy |
| PSTG | Pure Storage | $65.76 | $72.20 | 9.79% | Buy |
| HPQ | HP | $33.84 | $36.33 | 7.36% | Hold |
| NTAP | NetApp | $122.49 | $125.43 | 2.40% | Buy |
| DDD | 3D Systems | $3.80 | $3.88 | 2.11% | Buy |
| CAN | Canaan | $2.97 | $2.00 | -32.66% | Buy |
| IONQ | IonQ | $43.84 | $20.00 | -54.38% | Buy |
| QBTS | D-Wave Quantum | $8.40 | $2.00 | -76.19% | Buy |
| RGTI | Rigetti Computing | $11.13 | $2.00 | -82.03% | Buy |