Published on 12 Aug 2023 on Simply Wall St. via Yahoo Finance

Newsflash: Charlotte's Web Holdings, Inc. (TSE:CWEB) Analysts Have Been Trimming Their Revenue...

One thing we could say about the analysts on Charlotte's Web Holdings, Inc. (TSE:CWEB) - they aren't optimistic, having just made a major negative revision to their near-term (statutory) forecasts for the organization. There was a fairly draconian cut to their revenue estimates, perhaps an implicit admission that previous forecasts were much too optimistic.

Following the downgrade, the latest consensus from Charlotte's Web Holdings' three analysts is for revenues of US$72m in 2023, which would reflect a modest 4.0% improvement in sales compared to the last 12 months. Losses are predicted to fall substantially, shrinking 68% to US$0.09 per share. Yet before this consensus update, the analysts had been forecasting revenues of US$78m and losses of US$0.18 per share in 2023. While the revenue estimates fell, sentiment seems to have improved, with the analysts making a very promising decrease in losses per share in particular.

Check out our latest analysis for Charlotte's Web Holdings