Monster Beverage (NASDAQ:MNST) Price Target Raised to $87.00

Monster Beverage (NASDAQ:MNST) had its target price upped by Wells Fargo & Company from $85.00 to $87.00 in a research note issued to investors on Friday morning, Marketbeat reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the stock. Citigroup raised their price objective on shares of Monster Beverage from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Morgan Stanley restated an “overweight” rating and issued a $96.00 price objective (up from $87.00) on shares of Monster Beverage in a research report on Monday, January 26th. JPMorgan Chase & Co. cut their price objective on shares of Monster Beverage from $81.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Piper Sandler raised their price objective on shares of Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Finally, UBS Group cut their price objective on shares of Monster Beverage from $92.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.20.

Monster Beverage Trading Down 0.0%

MNST stock opened at $86.25 on Friday. The firm has a 50 day moving average of $76.12 and a 200-day moving average of $75.94. Monster Beverage has a 12 month low of $58.09 and a 12 month high of $88.77. The firm has a market capitalization of $84.34 billion, a P/E ratio of 41.67, a price-to-earnings-growth ratio of 3.07 and a beta of 0.50.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business earned $0.47 earnings per share. Monster Beverage’s revenue was up 22.6% compared to the same quarter last year. Sell-side analysts predict that Monster Beverage will post 2.29 EPS for the current year.

Institutional Investors Weigh In On Monster Beverage

Hedge funds have recently bought and sold shares of the stock. ABN AMRO Bank N.V. bought a new stake in Monster Beverage during the third quarter valued at approximately $59,170,000. Nordea Investment Management AB lifted its position in Monster Beverage by 12.2% during the fourth quarter. Nordea Investment Management AB now owns 880,061 shares of the company’s stock valued at $67,738,000 after purchasing an additional 95,606 shares during the last quarter. Inscription Capital LLC lifted its position in Monster Beverage by 130.6% during the third quarter. Inscription Capital LLC now owns 25,260 shares of the company’s stock valued at $1,700,000 after purchasing an additional 14,305 shares during the last quarter. UMB Bank n.a. lifted its position in Monster Beverage by 2,436.3% during the third quarter. UMB Bank n.a. now owns 57,371 shares of the company’s stock valued at $3,862,000 after purchasing an additional 55,109 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Monster Beverage by 7.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,605,873 shares of the company’s stock valued at $122,303,000 after purchasing an additional 116,510 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Key Stories Impacting Monster Beverage

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.