Monster Beverage (NASDAQ:MNST) Price Target Raised to $88.00

Monster Beverage (NASDAQ:MNST) had its target price increased by Royal Bank Of Canada from $86.00 to $88.00 in a research note published on Friday, Marketbeat reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. TD Cowen cut their target price on Monster Beverage from $88.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, April 20th. Stifel Nicolaus cut their target price on Monster Beverage from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft cut their target price on Monster Beverage from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Wall Street Zen cut Monster Beverage from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Piper Sandler raised their target price on Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Fifteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.20.

Monster Beverage Price Performance

Shares of MNST opened at $86.25 on Friday. The business’s fifty day moving average price is $76.12 and its 200 day moving average price is $75.94. Monster Beverage has a 12-month low of $58.09 and a 12-month high of $88.77. The stock has a market capitalization of $84.34 billion, a PE ratio of 41.67, a price-to-earnings-growth ratio of 3.07 and a beta of 0.50.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, May 7th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.16 billion. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share. As a group, research analysts anticipate that Monster Beverage will post 2.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Monster Beverage

Hedge funds and other institutional investors have recently modified their holdings of the stock. Physician Wealth Advisors Inc. boosted its position in shares of Monster Beverage by 508.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock valued at $25,000 after purchasing an additional 315 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Monster Beverage in the 3rd quarter valued at $27,000. Harbor Investment Advisory LLC boosted its position in shares of Monster Beverage by 136.7% in the 4th quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock valued at $27,000 after purchasing an additional 205 shares during the period. Newbridge Financial Services Group Inc. boosted its position in shares of Monster Beverage by 1,338.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after purchasing an additional 415 shares during the period. Finally, First Horizon Corp acquired a new position in shares of Monster Beverage in the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

More Monster Beverage News

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

• Positive Sentiment: Monster Beverage reported first-quarter EPS of $0.58, beating the $0.53 consensus estimate, on revenue of $2.32 billion versus expectations of $2.16 billion. Sales rose 22.6% year over year, supporting the stock’s move higher. Monster Beverage earnings report
• Positive Sentiment: Royal Bank of Canada raised its price target to $88 from $86 and kept an outperform rating, signaling continued confidence in Monster Beverage’s outlook.
• Positive Sentiment: Deutsche Bank lifted its target to $94 from $88 and reiterated a buy rating, implying additional upside if growth remains strong.
• Positive Sentiment: Wells Fargo increased its target to $87 from $85 and maintained an overweight rating, while Evercore raised its target to $95 from $90 and kept an outperform rating.
• Neutral Sentiment: Management highlighted particularly strong international demand, with overseas sales up sharply and now making up a larger share of total revenue. This supports the growth story, but investors may still watch whether that momentum persists.

Monster Beverage Company Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.