Monster Beverage (NASDAQ:MNST) Stock Price Target Raised at Wells Fargo & Company

Monster Beverage (NASDAQ:MNST) had its price target lifted by equities research analysts at Wells Fargo & Company from $50.00 to $52.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 8.72% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Zacks Research upgraded Monster Beverage from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. The Goldman Sachs Group reissued a “buy” rating and set a $55.00 target price on shares of Monster Beverage in a research note on Friday. Citigroup restated a “buy” rating on shares of Monster Beverage in a report on Thursday, October 22nd. Stifel Nicolaus set a $52.00 price target on Monster Beverage in a research note on Thursday, October 22nd. Finally, UBS Group reiterated a “neutral” rating and issued a $50.00 price target on shares of Monster Beverage in a report on Friday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.45.

Monster Beverage Trading Down 1.9%

Monster Beverage stock opened at $47.83 on Friday. The firm has a market cap of $93.70 billion, a P/E ratio of 44.29, a P/E/G ratio of 3.07 and a beta of 0.51. Monster Beverage has a 1-year low of $32.94 and a 1-year high of $50.17. The firm has a 50-day moving average of $44.73 and a 200-day moving average of $43.27.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Friday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.49 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. Monster Beverage’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 EPS. Research analysts forecast that Monster Beverage will post 1.16 earnings per share for the current fiscal year.

Institutional Trading of Monster Beverage

Several large investors have recently bought and sold shares of MNST. SteelPeak Wealth LLC lifted its stake in shares of Monster Beverage by 101.6% in the 3rd quarter. SteelPeak Wealth LLC now owns 57,569 shares of the company’s stock valued at $2,396,000 after purchasing an additional 29,014 shares during the period. Vontobel Holding Ltd. grew its stake in Monster Beverage by 97.6% in the third quarter. Vontobel Holding Ltd. now owns 146,109 shares of the company’s stock worth $6,081,000 after purchasing an additional 72,173 shares during the period. Cyndeo Wealth Partners LLC purchased a new stake in Monster Beverage in the third quarter worth $1,907,000. Carderock Capital Management Inc. raised its holdings in Monster Beverage by 98.6% in the third quarter. Carderock Capital Management Inc. now owns 246,880 shares of the company’s stock worth $10,275,000 after purchasing an additional 122,539 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in Monster Beverage by 399.2% in the third quarter. First Citizens Bank & Trust Co. now owns 33,613 shares of the company’s stock worth $1,399,000 after purchasing an additional 26,880 shares in the last quarter. 72.36% of the stock is owned by institutional investors.

Monster Beverage News Roundup

Here are the key news stories impacting Monster Beverage this week:

• Positive Sentiment: Net sales rose 16.7% year over year to $2.56 billion, topping analysts’ estimates. Sales outside the U.S. climbed 28.1% to $1.20 billion, or 47% of total revenue, while net income reached $568.4 million. Monster Beverage third-quarter results
• Neutral Sentiment: Adjusted earnings were $0.30 per share, in line with consensus; GAAP diluted earnings were $0.29 per share, up 7.8% year over year. Zacks earnings report
• Negative Sentiment: Investors appeared to focus on margin pressure and the lack of an earnings beat, overshadowing the revenue growth and contributing to the post-results decline in MNST shares. Coverage of shares and margin pressure

About Monster Beverage

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.