Monster Beverage (NASDAQ:MNST) Price Target Increased to $59.00 by Analysts at Piper Sandler

Monster Beverage (NASDAQ:MNST) had its target price hoisted by analysts at Piper Sandler from $58.00 to $59.00 in a research note issued on Friday, MarketBeat Ratings reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 7.27% from the company’s current price.

A number of other brokerages also recently commented on MNST. Morgan Stanley lifted their target price on Monster Beverage from $63.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Deutsche Bank Aktiengesellschaft dropped their target price on Monster Beverage from $64.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. The Goldman Sachs Group upped their price target on shares of Monster Beverage from $62.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Stifel Nicolaus cut their price objective on shares of Monster Beverage from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Finally, UBS Group upped their target price on shares of Monster Beverage from $62.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.32.

Monster Beverage Trading Up 3.0 %

Shares of MNST opened at $55.00 on Friday. The stock has a 50 day moving average of $56.84 and a 200-day moving average of $55.78. Monster Beverage has a 52 week low of $47.13 and a 52 week high of $61.22. The firm has a market cap of $57.30 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.19 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Monster Beverage had a return on equity of 21.13% and a net margin of 22.83%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the company posted $0.38 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, sell-side analysts predict that Monster Beverage will post 1.8 earnings per share for the current fiscal year.

Insider Activity

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $58.55, for a total value of $38,584,450.00. Following the sale, the director now directly owns 777,840 shares in the company, valued at $45,542,532. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Monster Beverage

Several hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in Monster Beverage during the fourth quarter worth approximately $517,035,000. Wellington Management Group LLP lifted its position in shares of Monster Beverage by 20.3% during the 3rd quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock valued at $1,033,323,000 after acquiring an additional 3,296,466 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Monster Beverage by 40.6% during the 4th quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock worth $603,659,000 after acquiring an additional 3,026,657 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Monster Beverage by 143.8% in the 4th quarter. TD Asset Management Inc now owns 3,209,873 shares of the company’s stock worth $184,921,000 after acquiring an additional 1,893,064 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Monster Beverage by 61.5% during the third quarter. William Blair Investment Management LLC now owns 3,431,785 shares of the company’s stock worth $181,713,000 after purchasing an additional 1,307,482 shares during the period. 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.