Bank of America Issues Pessimistic Forecast for Monster Beverage (NASDAQ:MNST) Stock Price

Monster Beverage (NASDAQ:MNST) had its price target decreased by Bank of America from $100.00 to $96.00 in a report issued on Friday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 26.78% from the company’s previous close.

Other analysts also recently issued research reports about the company. Royal Bank Of Canada lifted their target price on Monster Beverage from $83.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Evercore lifted their target price on Monster Beverage from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, February 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on Monster Beverage from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. JPMorgan Chase & Co. lifted their target price on Monster Beverage from $79.00 to $81.00 and gave the company a “neutral” rating in a research note on Friday, February 27th. Finally, Argus lifted their target price on Monster Beverage from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Fourteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $83.38.

Monster Beverage Stock Down 0.6%

MNST stock opened at $75.72 on Friday. Monster Beverage has a twelve month low of $57.01 and a twelve month high of $87.38. The stock has a market cap of $74.05 billion, a P/E ratio of 39.03, a PEG ratio of 2.50 and a beta of 0.51. The business’s 50-day moving average price is $78.09 and its 200-day moving average price is $74.85.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. On average, equities research analysts expect that Monster Beverage will post 1.62 earnings per share for the current fiscal year.

Institutional Trading of Monster Beverage

A number of large investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its position in shares of Monster Beverage by 6.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 197,899 shares of the company’s stock valued at $15,173,000 after purchasing an additional 12,050 shares during the last quarter. World Investment Advisors increased its position in shares of Monster Beverage by 41.8% during the 4th quarter. World Investment Advisors now owns 8,225 shares of the company’s stock valued at $631,000 after purchasing an additional 2,423 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Monster Beverage by 25.1% during the 4th quarter. Corient Private Wealth LLC now owns 486,695 shares of the company’s stock valued at $37,372,000 after purchasing an additional 97,721 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Monster Beverage by 6.5% during the 4th quarter. Hsbc Holdings PLC now owns 1,236,988 shares of the company’s stock valued at $94,887,000 after purchasing an additional 75,535 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its position in shares of Monster Beverage by 32.5% during the 4th quarter. Rehmann Capital Advisory Group now owns 8,882 shares of the company’s stock valued at $683,000 after purchasing an additional 2,181 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

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.