Monster Beverage (NASDAQ:MNST) Stock Gets Price Target Cut from Evercore

Monster Beverage (NASDAQ:MNST) had its price target decreased by Evercore from $95.00 to $52.00 in a research note released on Thursday morning.

A number of other research analysts also recently weighed in on the company. UBS Group raised their price objective on Monster Beverage from $52.00 to $52.50 and gave the company a “neutral” rating in a research note on Friday, August 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $48.50 target price (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. TD Cowen lifted their price target on shares of Monster Beverage from $45.00 to $47.50 and gave the company a “hold” rating in a research report on Wednesday, July 8th. 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, BMO Capital Markets restated a “market perform” rating and issued a $47.50 price objective (up from $36.50) on shares of Monster Beverage in a research note on Monday, July 20th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.07.

Monster Beverage Trading Down 0.0%

Shares of NASDAQ:MNST opened at $43.64 on Thursday. The stock has a market capitalization of $85.49 billion, a PE ratio of 40.41, a P/E/G ratio of 2.85 and a beta of 0.49. Monster Beverage has a 1 year low of $32.94 and a 1 year high of $50.17. The firm has a fifty day moving average price of $44.92 and a 200 day moving average price of $43.82.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Retirement Wealth Solutions LLC increased its holdings in Monster Beverage by 113.4% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 604 shares of the company’s stock valued at $25,000 after buying an additional 321 shares during the period. Davis Capital Management lifted its holdings in shares of Monster Beverage by 98.8% during the 3rd quarter. Davis Capital Management now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 316 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Monster Beverage during the 2nd quarter valued at about $27,000. Jones Financial Companies Lllp acquired a new stake in shares of Monster Beverage during the 2nd quarter valued at about $28,000. Finally, MV Capital Management Inc. acquired a new stake in shares of Monster Beverage during the 4th quarter valued at about $30,000. 72.36% of the stock is owned by institutional investors.

About Monster Beverage

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.