Monster Beverage Co. (NASDAQ:MNST) Receives $59.97 Consensus Target Price from Analysts

Posted by Defense World Staff on May 23rd, 2023

Monster Beverage Co. (NASDAQ:MNST – Get Rating) has received an average rating of “Moderate Buy” from the twenty-one research firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $59.97.

Several equities research analysts recently commented on MNST shares. Citigroup boosted their price target on shares of Monster Beverage from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Cfra lowered shares of Monster Beverage from a “buy” rating to a “hold” rating and cut their price target for the stock from $55.00 to $50.00 in a report on Wednesday, March 1st. Wells Fargo & Company lifted their target price on shares of Monster Beverage from $58.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, May 5th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Monster Beverage from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Finally, Truist Financial lowered their target price on shares of Monster Beverage to $65.00 and set a “buy” rating on the stock in a research note on Friday, May 5th.

Monster Beverage Price Performance

NASDAQ:MNST opened at $59.12 on Friday. The firm has a market cap of $59.12 billion, a price-to-earnings ratio of 48.46, a price-to-earnings-growth ratio of 1.69 and a beta of 0.86. The company has a 50 day moving average price of $55.74 and a 200-day moving average price of $52.54. Monster Beverage has a 1-year low of $41.95 and a 1-year high of $60.47.

Monster Beverage (NASDAQ:MNST – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.69 billion. Monster Beverage had a net margin of 19.95% and a return on equity of 18.47%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. On average, sell-side analysts anticipate that Monster Beverage will post 1.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Monster Beverage news, insider Emelie Tirre sold 2,502 shares of the stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $49.97, for a total transaction of $125,024.94. Following the completion of the transaction, the insider now owns 48,234 shares of the company’s stock, valued at $2,410,252.98. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Monster Beverage news, insider Emelie Tirre sold 2,502 shares of the stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $49.97, for a total transaction of $125,024.94. Following the completion of the transaction, the insider now owns 48,234 shares of the company’s stock, valued at $2,410,252.98. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas J. Kelly sold 93,192 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $59.41, for a total transaction of $5,536,536.72. Following the transaction, the chief financial officer now directly owns 60,056 shares of the company’s stock, valued at approximately $3,567,926.96. The disclosure for this sale can be found here. Insiders sold a total of 255,963 shares of company stock valued at $14,530,549 over the last 90 days. 10.50% of the stock is owned by company insiders.

Institutional Trading of Monster Beverage

Hedge funds have recently made changes to their positions in the business. AdvisorNet Financial Inc raised its holdings in Monster Beverage by 95.8% in the first quarter. AdvisorNet Financial Inc now owns 468 shares of the company’s stock valued at $25,000 after acquiring an additional 229 shares in the last quarter. Freedom Wealth Alliance LLC acquired a new stake in Monster Beverage in the fourth quarter valued at approximately $25,000. AXS Investments LLC acquired a new stake in Monster Beverage in the fourth quarter valued at approximately $26,000. Resurgent Financial Advisors LLC acquired a new stake in Monster Beverage in the fourth quarter valued at approximately $26,000. Finally, Ancora Advisors LLC acquired a new stake in Monster Beverage in the first quarter valued at approximately $27,000. Institutional investors and hedge funds own 75.11% of the company’s stock.

Monster Beverage Company Profile

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Monster Beverage Corp. is a holding company, which engages in the development, marketing, sale, and distribution of energy drink beverages and concentrates. It operates through the following segments: Monster Energy Drinks, Strategic Brands, and Other. The Monster Energy Drinks segment sells ready-to-drink packaged energy drinks to bottlers and full-service beverage distributors.