Monster Beverage (NASDAQ:MNST) Price Target Cut to $52.00 by Analysts at Evercore

Monster Beverage (NASDAQ:MNST) had its price target reduced by Evercore from $95.00 to $52.00 in a research note published on Thursday.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company reduced their price objective on shares of Monster Beverage from $53.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, October 5th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $47.50 price target (up from $36.50) on shares of Monster Beverage in a report on Monday, July 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $48.50 price target (down from $97.00) on shares of Monster Beverage in a research note on Wednesday, August 5th. Sanford C. Bernstein started coverage on Monster Beverage in a report on Friday, June 12th. They issued a “market perform” rating and a $47.50 price objective on the stock. Finally, Stifel Nicolaus boosted their price target on shares of Monster Beverage from $45.00 to $52.50 and gave the company a “buy” rating in a research report on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.07.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $43.64 on Thursday. The stock’s fifty day moving average is $44.92 and its 200 day moving average is $43.82. Monster Beverage has a one year low of $32.94 and a one year high of $50.17. The stock has a market cap of $85.49 billion, a P/E ratio of 40.41, a P/E/G ratio of 2.85 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, August 6th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. 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 business earned $0.26 earnings per share. Analysts predict that Monster Beverage will post 1.11 EPS for the current year.

Institutional Investors Weigh In On Monster Beverage

A number of hedge funds have recently added to or reduced their stakes in MNST. GK Wealth Management LLC boosted its holdings in Monster Beverage by 80.6% during the third quarter. GK Wealth Management LLC now owns 8,524 shares of the company’s stock worth $355,000 after buying an additional 3,804 shares in the last quarter. Wedmont Private Capital increased its position in Monster Beverage by 203.6% during the third quarter. Wedmont Private Capital now owns 48,280 shares of the company’s stock worth $2,107,000 after buying an additional 32,379 shares in the last quarter. Journey Retirement Planning & Investment Management LLC boosted its stake in shares of Monster Beverage by 56.4% during the third quarter. Journey Retirement Planning & Investment Management LLC now owns 23,866 shares of the company’s stock valued at $993,000 after acquiring an additional 8,606 shares during the last quarter. Eclectic Associates Inc. ADV lifted its stake in shares of Monster Beverage by 100.0% during the 3rd quarter. Eclectic Associates Inc. ADV now owns 17,184 shares of the company’s stock worth $715,000 after purchasing an additional 8,592 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its holdings in shares of Monster Beverage by 100.0% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 413,000 shares of the company’s stock worth $17,189,000 after purchasing an additional 206,500 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

About Monster Beverage

Monster Beverage Corporation is a beverage company that develops, markets, and distributes energy drinks and related alternative beverages. Its flagship Monster Energy brand offers a range of energy drinks in multiple flavors and formulations, including products designed for performance, focus, and lifestyle-oriented consumption.

The company’s portfolio also includes brands such as Reign, NOS, Full Throttle, Burn, and Mother, along with other energy and beverage products sold under regional or strategic brand arrangements.