Monster Beverage Corporation (NASDAQ:MNST) Stock Has Consensus Target Price of $74.07 According to Brokerages

Monster Beverage Corporation (NASDAQ:MNST) has earned an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $74.05.

Several research firms have commented on MNST. Weiss Ratings cut shares of Monster Beverage from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. Evercore cut their target price on Monster Beverage from $95.00 to $52.00 in a research note on Thursday, October 8th. Morgan Stanley upped their target price on Monster Beverage from $103.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, August 7th. TD Cowen increased their price target on Monster Beverage from $45.00 to $47.50 and gave the company a “hold” rating in a research report on Wednesday, July 8th. Finally, Sanford C. Bernstein dropped their price target on Monster Beverage from $95.00 to $50.00 in a report on Sunday, August 23rd.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Johnson Financial Group Inc. purchased a new stake in shares of Monster Beverage during the 2nd quarter valued at $27,000. Jones Financial Companies Lllp purchased a new position in shares of Monster Beverage in the 2nd quarter worth about $28,000. Trust Co. of Vermont purchased a new position in shares of Monster Beverage in the 2nd quarter worth about $30,000. NBH Bank purchased a new position in shares of Monster Beverage in the 2nd quarter worth about $32,000. Finally, Clearstead Trust LLC bought a new position in Monster Beverage during the second quarter valued at about $32,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

MNST opened at $46.19 on Wednesday. The company’s 50-day moving average is $44.77 and its 200 day moving average is $44.52. Monster Beverage has a fifty-two week low of $32.94 and a fifty-two week high of $50.17. The firm has a market capitalization of $90.49 billion, a P/E ratio of 42.77, a PEG ratio of 2.91 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. On average, equities research analysts expect that Monster Beverage will post 1.16 earnings per share for the current year.

About Monster Beverage

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.