Monster Beverage (NASDAQ:MNST) Price Target Raised to $57.00 at Bank of America

Monster Beverage (NASDAQ:MNST) had its price target increased by Bank of America from $56.00 to $57.00 in a report published on Tuesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also weighed in on MNST. Truist Financial cut their target price on Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. BNP Paribas initiated coverage on Monster Beverage in a research note on Monday, June 24th. They issued an “underperform” rating and a $48.00 price objective on the stock. Citigroup dropped their target price on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Piper Sandler reduced their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Jefferies Financial Group dropped their price objective on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus price target of $55.68.

Monster Beverage Stock Performance

NASDAQ MNST opened at $54.05 on Tuesday. The business’s 50-day moving average price is $49.68 and its 200 day moving average price is $51.18. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. Monster Beverage has a twelve month low of $43.32 and a twelve month high of $61.22. The company has a market capitalization of $56.31 billion, a PE ratio of 33.99, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the business posted $0.39 earnings per share. Monster Beverage’s revenue was up 2.4% on a year-over-year basis. On average, research analysts predict that Monster Beverage will post 1.66 earnings per share for the current year.

Institutional Trading of Monster Beverage

A number of hedge funds have recently made changes to their positions in the stock. Edmond DE Rothschild Holding S.A. grew its holdings in Monster Beverage by 9.9% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,097 shares of the company’s stock worth $124,000 after acquiring an additional 189 shares in the last quarter. Journey Advisory Group LLC raised its stake in Monster Beverage by 4.1% during the second quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock valued at $248,000 after buying an additional 196 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in Monster Beverage by 5.1% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company’s stock worth $256,000 after buying an additional 209 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Monster Beverage by 0.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock worth $2,434,000 after acquiring an additional 211 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its holdings in shares of Monster Beverage by 1.7% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 13,307 shares of the company’s stock valued at $789,000 after acquiring an additional 226 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.