Monster Beverage (NASDAQ:MNST) Stock Price Target Cut by Wells Fargo & Company

Monster Beverage (NASDAQ:MNST) had its target price decreased by Wells Fargo & Company from $53.00 to $48.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 10.98% from the company’s previous close.

Several other analysts also recently weighed in on the stock. UBS Group lifted their price objective on shares of Monster Beverage from $52.00 to $52.50 and gave the company a “neutral” rating in a research report on Friday, August 7th. Piper Sandler raised their price target on shares of Monster Beverage from $47.00 to $50.50 and gave the company an “overweight” rating in a research note on Friday, August 7th. Sanford C. Bernstein began coverage on Monster Beverage in a report on Friday, June 12th. They set a “market perform” rating and a $47.50 price target on the stock. Evercore boosted their price objective on Monster Beverage from $47.50 to $52.50 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Finally, Stifel Nicolaus boosted their price objective on Monster Beverage from $45.00 to $52.50 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Monster Beverage has an average rating of “Moderate Buy” and an average price target of $50.10.

Monster Beverage Price Performance

Shares of MNST opened at $43.25 on Monday. Monster Beverage has a 12 month low of $32.94 and a 12 month high of $50.17. The stock has a fifty day moving average price of $45.23 and a 200 day moving average price of $43.73. The company has a market cap of $84.73 billion, a P/E ratio of 40.05, a PEG ratio of 2.84 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 earnings per share. As a group, research analysts anticipate that Monster Beverage will post 1.11 earnings per share for the current year.

Hedge Funds Weigh In On Monster Beverage

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Johnson Financial Group Inc. bought a new stake in shares of Monster Beverage during the 2nd quarter worth about $27,000. Jones Financial Companies Lllp bought a new position in shares of Monster Beverage in the second quarter valued at approximately $28,000. MV Capital Management Inc. acquired a new position in shares of Monster Beverage during the fourth quarter valued at approximately $30,000. Trust Co. of Vermont acquired a new position in shares of Monster Beverage during the second quarter valued at approximately $30,000. Finally, Clearstead Trust LLC bought a new stake in Monster Beverage during the second quarter worth approximately $32,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Company Profile

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.