The Goldman Sachs Group Forecasts Strong Price Appreciation for Monster Beverage (NASDAQ:MNST) Stock

Monster Beverage (NASDAQ:MNST) had its target price increased by stock analysts at The Goldman Sachs Group from $67.00 to $72.00 in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 13.05% from the stock’s previous close.

Several other research analysts also recently commented on MNST. Morgan Stanley raised their price target on shares of Monster Beverage from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Monster Beverage from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. TD Cowen lifted their price target on shares of Monster Beverage from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Friday, May 9th. Piper Sandler boosted their price target on Monster Beverage from $51.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of Monster Beverage in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus target price of $62.05.

Monster Beverage Trading Up 1.8%

Shares of NASDAQ MNST opened at $63.69 on Friday. Monster Beverage has a fifty-two week low of $43.32 and a fifty-two week high of $64.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The company has a market cap of $62.11 billion, a price-to-earnings ratio of 40.83, a PEG ratio of 2.28 and a beta of 0.60. The business’s 50 day moving average price is $60.79 and its 200-day moving average price is $55.45.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the company posted $0.42 EPS. Monster Beverage’s quarterly revenue was down 2.3% on a year-over-year basis. On average, sell-side analysts expect that Monster Beverage will post 1.62 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Thomas J. Kelly sold 27,000 shares of the business’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the sale, the chief financial officer now owns 69,273 shares in the company, valued at approximately $4,391,908.20. The trade was a 28.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Emelie Tirre sold 8,796 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $62.46, for a total transaction of $549,398.16. Following the transaction, the insider now owns 89,501 shares in the company, valued at approximately $5,590,232.46. This trade represents a 8.95% decrease in their position. The disclosure for this sale can be found here. 8.30% of the stock is owned by company insiders.

Institutional Trading of Monster Beverage

A number of institutional investors have recently bought and sold shares of MNST. Wayfinding Financial LLC acquired a new stake in shares of Monster Beverage during the first quarter worth $29,000. SBI Securities Co. Ltd. purchased a new position in Monster Beverage in the 4th quarter worth $31,000. Coppell Advisory Solutions LLC lifted its position in Monster Beverage by 259.2% during the 4th quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company’s stock worth $36,000 after acquiring an additional 495 shares during the period. Park Square Financial Group LLC acquired a new stake in Monster Beverage during the 4th quarter worth about $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in Monster Beverage by 37.1% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock valued at $42,000 after purchasing an additional 196 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

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.