Monster Beverage (NASDAQ:MNST) Stock Price Expected to Rise, Piper Sandler Analyst Says

Monster Beverage (NASDAQ:MNST) had its target price boosted by investment analysts at Piper Sandler from $51.00 to $54.00 in a research report issued on Friday, MarketBeat reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective would indicate a potential downside of 11.68% from the company’s previous close.

A number of other research firms have also commented on MNST. Citigroup boosted their price objective on Monster Beverage from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, April 14th. UBS Group increased their price objective on shares of Monster Beverage from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday. Bank of America raised their price objective on shares of Monster Beverage from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. upped their target price on shares of Monster Beverage from $53.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $59.00 price target on shares of Monster Beverage in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Monster Beverage currently has a consensus rating of “Hold” and an average price target of $60.17.

Monster Beverage Trading Up 1.7 %

Shares of MNST stock opened at $61.14 on Friday. The company has a market capitalization of $59.62 billion, a P/E ratio of 39.19, a P/E/G ratio of 2.28 and a beta of 0.63. Monster Beverage has a 12-month low of $43.32 and a 12-month high of $61.83. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $57.88 and a 200 day moving average price of $53.96.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. Monster Beverage’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. Research analysts forecast that Monster Beverage will post 1.62 earnings per share for the current fiscal year.

Insider Transactions at Monster Beverage

In other Monster Beverage news, insider Guy Carling sold 47,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $55.02, for a total value of $2,585,940.00. Following the sale, the insider now directly owns 21,993 shares in the company, valued at approximately $1,210,054.86. This trade represents a 68.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Emelie Tirre sold 91,316 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the completion of the transaction, the insider now directly owns 76,201 shares of the company’s stock, valued at $4,220,011.38. This trade represents a 54.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 208,316 shares of company stock worth $11,484,440. 7.80% of the stock is currently owned by company insiders.

Institutional Trading of Monster Beverage

Several hedge funds have recently added to or reduced their stakes in MNST. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Monster Beverage by 62.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company’s stock worth $28,000 after acquiring an additional 203 shares in the last quarter. Spire Wealth Management bought a new stake in Monster Beverage during the 4th quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new stake in Monster Beverage during the 1st quarter worth approximately $29,000. Retirement Wealth Solutions LLC bought a new position in Monster Beverage in the fourth quarter valued at approximately $30,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Monster Beverage in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

About Monster Beverage

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.