Leafbuyer Technologies (OTCMKTS: LBUY) had some big news break yesterday. The company was the center of a coverage initiation, and the analyst believes that there’s some room for incredible upside. Today, we’ll talk about the coverage and what we’ll be watching for with regard to LBUY ahead.
SeeThruEquity Initiates Coverage On LBUY
As mentioned above, SeeThruEquity recently released a new report, in which the company initiated coverage on Leafbuyer Technologies. In the report, the analyst set the target price on the stock to $3.70. Here’s a key snippet from the report:
We initiate coverage of Leafbuyer Technologies, Inc.(OTCQB: LBUY, “Leafbuyer”) with a price target of $3.70. Headquartered in Greenwood Village, CO, Leafbuyer operates a comprehensive online platform for cannabis deals and information. The Leafbuyer platform is a searchable online database that enables consumers to search for deals, products and store information in their local area and nationwide. Vendors and product manufacturers subscribe to the platform, where they can advertise and post deals and special offers while leveraging Leafbuyer’s technology and growing database of legal cannabis consumer data. Offers are acquired by consumers through the Leafbuyer network and can be redeemed in local dispensaries through a mobile device or printed coupon. Leafbuyer was founded in 2013 by successful technology and media industry veterans Kurt Rossner and Mark Breen, and the company has already amassed a network of millions of recreational and medical cannabis consumers each month. We see Leafbuyer as an intriguing online business with experienced management targeting one of the fastest-growing emerging industries in North America. If achieved, the target of $3.70 suggests a potential upside of 118.9% from the recent price of $1.69 on March 5, 2018.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on LBUY. In particular, we’re interested in following the continued expansion of the audience on the company’s website as well as the revenue that this expansion will generate. We’ll also be watching for any more initiation of coverage announcements. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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