Monster Beverage (NASDAQ:MNST) Stock Gets Price Target Increase from Piper Sandler

Monster Beverage (NASDAQ:MNST) had its price objective boosted by research analysts at Piper Sandler from $50.50 to $53.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler‘s price target points to a potential upside of 10.81% from the stock’s current price.

Other analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 target price (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. Citigroup reiterated a “buy” rating on shares of Monster Beverage in a research report on Thursday, October 22nd. Morgan Stanley increased their price objective on shares of Monster Beverage from $103.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Evercore lowered their price objective on shares of Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $48.50 target price (down from $97.00) on shares of Monster Beverage in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.45.

Monster Beverage Price Performance

NASDAQ MNST opened at $47.83 on Friday. The stock’s 50 day simple moving average is $44.73 and its 200 day simple moving average is $43.27. Monster Beverage has a one year low of $32.94 and a one year high of $50.17. The firm has a market cap of $93.70 billion, a PE ratio of 44.29, a price-to-earnings-growth ratio of 3.07 and a beta of 0.51.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Friday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.49 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. As a group, equities analysts expect that Monster Beverage will post 1.16 earnings per share for the current year.

Institutional Investors Weigh In On Monster Beverage

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Monster Beverage during the 2nd quarter worth $5,770,004,000. Bank of America Corp DE bought a new position in shares of Monster Beverage in the 2nd quarter worth $1,195,360,000. Wellington Management Group LLP boosted its position in shares of Monster Beverage by 27.8% in the 2nd quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock worth $717,629,000 after purchasing an additional 1,624,416 shares during the last quarter. Jupiter Topco LLC bought a new position in shares of Monster Beverage in the 2nd quarter worth $593,075,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Monster Beverage by 23.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock worth $553,414,000 after purchasing an additional 1,461,167 shares during the period. 72.36% of the stock is owned by institutional investors.

Trending Headlines about Monster Beverage

Here are the key news stories impacting Monster Beverage this week:

• Positive Sentiment: Net sales rose 16.7% year over year to $2.56 billion, topping analysts’ estimates. Sales outside the U.S. climbed 28.1% to $1.20 billion, or 47% of total revenue, while net income reached $568.4 million. Monster Beverage third-quarter results
• Neutral Sentiment: Adjusted earnings were $0.30 per share, in line with consensus; GAAP diluted earnings were $0.29 per share, up 7.8% year over year. Zacks earnings report
• Negative Sentiment: Investors appeared to focus on margin pressure and the lack of an earnings beat, overshadowing the revenue growth and contributing to the post-results decline in MNST shares. Coverage of shares and margin pressure

Monster Beverage Company Profile

Monster Beverage Corporation is a global beverage company focused primarily on the development, marketing, sale and distribution of energy drinks. Its portfolio includes the flagship Monster Energy brand, along with products marketed under brands such as NOS, Full Throttle, Reign, Burn and Mother. The company offers a range of energy drinks in different flavors and formulations, including products positioned for performance, fitness and everyday consumption.

The company traces its origins to Hansen Natural Corporation, which was founded in 1935 and changed its name to Monster Beverage Corporation in 2012 as the Monster Energy brand became increasingly central to its business.