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The analyst sees potential for an acceleration in the company's long-term growth driven by the growth in new users and increased household penetration.
Growe added that a recovery in mobility and buy-rate for Simply's products is not embedded in estimates and could enhance its growth through the year.
Growe believes acquisition activity could occur as well sees opportunity from Simply using its balance sheet "to buy a business or being a takeover candidate itself."
Credit Suisse analyst Kaumil Gajrawala Maintained a Neutral rating on the company and raised the price target to $38 from $37.
Price Action: SMPL shares are trading higher by 3.92% at $38.7 on the last check Monday.
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