Vita Coco (NASDAQ:COCO) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Vita Coco (NASDAQ:COCO) posted its earnings results on Thursday. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11, Zacks reports. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. The company’s revenue was up 33.7% compared to the same quarter last year. During the same period last year, the business posted $0.40 EPS.

Vita Coco Price Performance

Shares of COCO stock opened at $59.55 on Thursday. The stock has a market cap of $3.42 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 1.66 and a beta of 0.76. The stock has a 50-day moving average of $58.44 and a 200-day moving average of $64.84. Vita Coco has a one year low of $39.60 and a one year high of $85.83.

Analyst Ratings Changes

COCO has been the subject of several analyst reports. Evercore lifted their price target on shares of Vita Coco from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Zacks Research cut shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Oppenheimer began coverage on shares of Vita Coco in a research note on Thursday, October 1st. They issued an “outperform” rating and a $70.00 price objective on the stock. Morgan Stanley lifted their target price on shares of Vita Coco from $65.00 to $68.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 28th. Finally, Piper Sandler dropped their target price on shares of Vita Coco from $89.00 to $83.00 and set an “overweight” rating for the company in a research report on Thursday, September 10th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Vita Coco currently has an average rating of “Moderate Buy” and an average price target of $73.50.

Vita Coco Company Profile

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water in a variety of formats and flavors, including original, flavored and pressed coconut water products. The company also markets other beverages under brands such as Ever & Ever, a plant-based water brand, and PWR LIFT, a functional hydration beverage.

Vita Coco products are sold through grocery stores, mass merchandisers, convenience stores, club retailers, e-commerce platforms and foodservice channels.