Brokerages Set Monster Beverage Corporation (NASDAQ:MNST) Target Price at $84.14

Monster Beverage Corporation (NASDAQ:MNST) has earned an average rating of “Moderate Buy” from the twenty-three ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $84.1429.

Several equities research analysts have recently weighed in on the company. Zacks Research lowered Monster Beverage from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Bank of America upped their price target on Monster Beverage from $77.00 to $85.00 and gave the company a “buy” rating in a report on Friday, December 19th. Royal Bank Of Canada increased 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. Wall Street Zen cut shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, Roth Mkm restated a “neutral” rating and set a $70.00 price objective on shares of Monster Beverage in a research report on Wednesday, December 3rd.

Monster Beverage Price Performance

NASDAQ:MNST opened at $77.11 on Tuesday. Monster Beverage has a 12 month low of $54.22 and a 12 month high of $87.38. The firm has a market capitalization of $75.34 billion, a PE ratio of 39.75, a price-to-earnings-growth ratio of 2.49 and a beta of 0.44. The business’s fifty day moving average price is $80.18 and its 200 day moving average price is $73.43.

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

Institutional Investors Weigh In On Monster Beverage

A number of institutional investors and hedge funds have recently bought and sold shares of MNST. Capital Advisory Group Advisory Services LLC grew its holdings in shares of Monster Beverage by 2.8% during the fourth quarter. Capital Advisory Group Advisory Services LLC now owns 4,841 shares of the company’s stock worth $371,000 after purchasing an additional 133 shares during the last quarter. Williams Jones Wealth Management LLC. increased its position in shares of Monster Beverage by 2.2% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 6,134 shares of the company’s stock worth $470,000 after purchasing an additional 134 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Monster Beverage by 3.6% in the 4th quarter. D.A. Davidson & CO. now owns 4,071 shares of the company’s stock valued at $312,000 after purchasing an additional 141 shares during the last quarter. Armstrong Advisory Group Inc. lifted its holdings in shares of Monster Beverage by 49.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company’s stock valued at $30,000 after purchasing an additional 146 shares during the last quarter. Finally, Earned Wealth Advisors LLC boosted its position in shares of Monster Beverage by 3.8% in the 4th quarter. Earned Wealth Advisors LLC now owns 4,171 shares of the company’s stock valued at $320,000 after purchasing an additional 151 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

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.