Monster Beverage (NASDAQ:MNST) Given New $95.00 Price Target at Evercore

Monster Beverage (NASDAQ:MNST) had its target price hoisted by Evercore from $90.00 to $95.00 in a report issued on Friday, Marketbeat Ratings reports. Evercore currently has an outperform rating on the stock.

Several other analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Monster Beverage from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, March 30th. Argus upped their target price on Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Royal Bank Of Canada set a $86.00 target price on Monster Beverage in a research note on Thursday, April 9th. Piper Sandler boosted their price target on Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Finally, UBS Group decreased their price target on Monster Beverage from $92.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Monster Beverage Stock Up 13.5%

MNST opened at $86.25 on Friday. Monster Beverage has a 52-week low of $58.09 and a 52-week high of $88.77. The company has a 50 day moving average of $76.12 and a two-hundred day moving average of $75.94. The company has a market cap of $84.34 billion, a P/E ratio of 41.67, a P/E/G ratio of 2.71 and a beta of 0.50.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, May 7th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.16 billion. Monster Beverage had a net margin of 23.11% and a return on equity of 27.73%. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 EPS. Research analysts anticipate that Monster Beverage will post 2.28 earnings per share for the current year.

Institutional Investors Weigh In On Monster Beverage

Hedge funds have recently bought and sold shares of the business. Physician Wealth Advisors Inc. raised its position in shares of Monster Beverage by 508.1% in 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 in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Monster Beverage during the third quarter worth approximately $27,000. Harbor Investment Advisory LLC grew its position in shares of Monster Beverage by 136.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock worth $27,000 after buying an additional 205 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of 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 buying an additional 415 shares during the last quarter. Finally, First Horizon Corp acquired a new stake in Monster Beverage in the third quarter valued at $29,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Key Monster Beverage News

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

• Positive Sentiment: Monster Beverage reported first-quarter EPS of $0.58, beating the $0.53 consensus estimate, on revenue of $2.32 billion versus expectations of $2.16 billion. Sales rose 22.6% year over year, supporting the stock’s move higher. Monster Beverage earnings report
• Positive Sentiment: Royal Bank of Canada raised its price target to $88 from $86 and kept an outperform rating, signaling continued confidence in Monster Beverage’s outlook.
• Positive Sentiment: Deutsche Bank lifted its target to $94 from $88 and reiterated a buy rating, implying additional upside if growth remains strong.
• Positive Sentiment: Wells Fargo increased its target to $87 from $85 and maintained an overweight rating, while Evercore raised its target to $95 from $90 and kept an outperform rating.
• Neutral Sentiment: Management highlighted particularly strong international demand, with overseas sales up sharply and now making up a larger share of total revenue. This supports the growth story, but investors may still watch whether that momentum persists.

About Monster Beverage

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.