Monster Beverage Corporation (NASDAQ:MNST) Stock Has Average Target Price of $74.07

Shares of Monster Beverage Corporation (NASDAQ:MNST) have received a consensus recommendation of “Moderate Buy” from the twenty-four brokerages that are covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $71.86.

Several analysts recently commented on the company. Evercore dropped their price objective on Monster Beverage from $95.00 to $52.00 in a research note on Thursday, October 8th. Sanford C. Bernstein reduced their target price on Monster Beverage from $95.00 to $50.00 in a report on Sunday, August 23rd. BNP Paribas Exane reissued a “neutral” rating and issued a $98.00 target price (up from $84.00) on shares of Monster Beverage in a research note on Monday, September 28th. JPMorgan Chase & Co. lowered their price target on Monster Beverage from $49.50 to $49.00 and set a “neutral” rating for the company in a report on Monday. Finally, The Goldman Sachs Group raised their price target on Monster Beverage from $106.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 7th.

Monster Beverage Price Performance

Monster Beverage stock opened at $45.44 on Wednesday. The company’s 50 day simple moving average is $44.82 and its 200 day simple moving average is $42.97. Monster Beverage has a fifty-two week low of $32.94 and a fifty-two week high of $50.17.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, August 6th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.43 billion. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. Equities research analysts predict that Monster Beverage will post 1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Monster Beverage

A number of hedge funds and other institutional investors have recently bought and sold shares of MNST. Johnson Financial Group Inc. bought a new position in shares of Monster Beverage in the 2nd quarter valued at about $27,000. Jones Financial Companies Lllp acquired a new position in shares of Monster Beverage in the second quarter valued at approximately $28,000. Trust Co. of Vermont bought a new position in Monster Beverage during the 2nd quarter worth $30,000. NBH Bank bought a new position in Monster Beverage during the second quarter worth about $32,000. Finally, Clearstead Trust LLC acquired a new stake in shares of Monster Beverage in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Company Profile

Monster Beverage Corporation is a global beverage company focused primarily on the development, marketing, sale and distribution of energy drinks. Its portfolio includes the flagship Monster Energy brand, along with products marketed under brands such as NOS, Full Throttle, Reign, Burn and Mother. The company offers a range of energy drinks in different flavors and formulations, including products positioned for performance, fitness and everyday consumption.

The company traces its origins to Hansen Natural Corporation, which was founded in 1935 and changed its name to Monster Beverage Corporation in 2012 as the Monster Energy brand became increasingly central to its business.