Monster Beverage (NASDAQ:MNST) Price Target Raised to $85.00 at Evercore

Monster Beverage (NASDAQ:MNST) had its target price upped by Evercore from $80.00 to $85.00 in a research report report published on Monday morning, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

A number of other analysts also recently issued reports on MNST. Argus raised their target price on Monster Beverage from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Deutsche Bank Aktiengesellschaft increased their price target on Monster Beverage from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley restated an “overweight” rating and issued a $96.00 price objective (up from $87.00) on shares of Monster Beverage in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Monster Beverage in a report on Monday, December 29th. Finally, Piper Sandler set a $85.00 target price on shares of Monster Beverage in a research report on Wednesday, December 3rd. Fourteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.67.

Monster Beverage Stock Up 1.1%

Monster Beverage stock opened at $84.69 on Monday. The firm has a 50 day moving average price of $79.28 and a 200-day moving average price of $71.92. Monster Beverage has a twelve month low of $50.93 and a twelve month high of $84.88. The company has a market capitalization of $82.74 billion, a P/E ratio of 48.12, a P/E/G ratio of 2.17 and a beta of 0.45.

Insiders Place Their Bets

In other news, insider Emelie Tirre sold 30,000 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $73.31, for a total value of $2,199,300.00. Following the transaction, the insider owned 63,939 shares of the company’s stock, valued at approximately $4,687,368.09. This represents a 31.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Rodney C. Sacks sold 206,543 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $73.58, for a total value of $15,197,433.94. Additional details regarding this sale are available in the official SEC disclosure. 7.80% of the stock is owned by insiders.

Institutional Trading of Monster Beverage

Large investors have recently modified their holdings of the business. Access Investment Management LLC purchased a new position in shares of Monster Beverage during the second quarter worth approximately $25,000. Physician Wealth Advisors Inc. grew its holdings in shares of Monster Beverage by 508.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock valued at $25,000 after purchasing an additional 315 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in Monster Beverage in the 3rd quarter worth $27,000. Harbor Investment Advisory LLC lifted its stake in Monster Beverage by 136.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock worth $27,000 after purchasing an additional 205 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its stake in Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after purchasing an additional 415 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.