Monster Beverage Corporation (NASDAQ:MNST) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Monster Beverage Corporation (NASDAQ:MNST) has been given a consensus recommendation of “Moderate Buy” by the twenty-two brokerages that are currently covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $50.33.

MNST has been the topic of several research reports. Evercore boosted their price objective on shares of Monster Beverage from $47.50 to $52.50 and gave the company an “outperform” rating in a research report on Friday, August 7th. Stifel Nicolaus raised their price objective on Monster Beverage from $45.00 to $52.50 and gave the company a “buy” rating in a report on Thursday, July 16th. Piper Sandler boosted their target price on shares of Monster Beverage from $47.00 to $50.50 and gave the stock an “overweight” rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of Monster Beverage from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 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 report on Wednesday, August 5th.

Monster Beverage Stock Performance

NASDAQ MNST opened at $42.94 on Friday. The business has a 50 day simple moving average of $45.43 and a 200 day simple moving average of $43.61. Monster Beverage has a 52-week low of $32.94 and a 52-week high of $50.17. The stock has a market cap of $84.12 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 2.75 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm posted $0.26 earnings per share. The business’s revenue was up 20.2% on a year-over-year basis. On average, analysts predict that Monster Beverage will post 1.11 EPS for the current year.

Hedge Funds Weigh In On Monster Beverage

A number of institutional investors have recently bought and sold shares of MNST. BlackRock Inc. bought a new stake in Monster Beverage in the 2nd quarter valued at $5,770,004,000. Bank of America Corp DE bought a new position in Monster Beverage during the second quarter worth $1,195,360,000. Norges Bank bought a new position in Monster Beverage during the fourth quarter worth $691,104,000. Jupiter Topco LLC acquired a new position in shares of Monster Beverage in the second quarter valued at $593,075,000. Finally, Legal & General Group Plc acquired a new position in shares of Monster Beverage in the second quarter valued at $478,694,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Company Profile

Monster Beverage Corporation is a beverage company that develops, markets, and distributes energy drinks and related alternative beverages. Its flagship Monster Energy brand offers a range of energy drinks in multiple flavors and formulations, including products designed for performance, focus, and lifestyle-oriented consumption.

The company’s portfolio also includes brands such as Reign, NOS, Full Throttle, Burn, and Mother, along with other energy and beverage products sold under regional or strategic brand arrangements.