Wells Fargo & Company Has Lowered Expectations for Monster Beverage (NASDAQ:MNST) Stock Price

Monster Beverage (NASDAQ:MNST) had its price objective decreased by equities researchers at Wells Fargo & Company from $90.00 to $85.00 in a research note issued on Wednesday. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 13.66% from the company’s previous close.

MNST has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on shares of Monster Beverage from $79.00 to $81.00 and gave the company a “neutral” rating in a research note on Friday, February 27th. Zacks Research lowered shares of Monster Beverage from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Bank of America lifted their price target on shares of Monster Beverage from $77.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Royal Bank Of Canada lifted their price target on shares of Monster Beverage from $83.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Finally, Piper Sandler lifted their price target on shares of Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Fourteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.95.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $74.78 on Wednesday. The stock has a market cap of $73.13 billion, a P/E ratio of 38.49, a P/E/G ratio of 2.39 and a beta of 0.51. The firm has a 50 day moving average price of $78.38 and a 200 day moving average price of $74.68. Monster Beverage has a 52-week low of $54.73 and a 52-week high of $87.38.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the previous year, the company earned $0.39 earnings per share. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. Analysts predict that Monster Beverage will post 1.62 earnings per share for the current fiscal year.

Institutional Trading of Monster Beverage

Institutional investors have recently made changes to their positions in the business. Physician Wealth Advisors Inc. lifted its position in shares of Monster Beverage by 508.1% in the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock worth $25,000 after purchasing an additional 315 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Monster Beverage in the third quarter worth $27,000. Harbor Investment Advisory LLC raised its position in Monster Beverage by 136.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock worth $27,000 after acquiring an additional 205 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in Monster Beverage by 1,338.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after acquiring an additional 415 shares in the last quarter. Finally, First Horizon Corp bought a new stake in Monster Beverage during the third quarter worth $29,000. Institutional investors own 72.36% of the company’s stock.

About Monster Beverage

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.