Monster Beverage (NASDAQ:MNST) Given New $51.00 Price Target at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein raised its Monster Beverage price target from $50 to $51 while keeping a “market perform” rating; the new target implies 11.55% upside from the prior close.
• Analyst views are mixed but lean positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $67.09, with Jefferies and Wells Fargo among the bullish firms.
• Monster reported quarterly EPS of $0.30, matching estimates, while revenue of $2.53 billion exceeded expectations and rose 16.7% year over year.

Monster Beverage (NASDAQ:MNST - Get Free Report) had its target price boosted by investment analysts at Sanford C. Bernstein from $50.00 to $51.00 in a report released on Monday, MarketBeat.com reports. The firm presently has a "market perform" rating on the stock. Sanford C. Bernstein's target price would suggest a potential upside of 11.55% from the stock's previous close.

Several other research analysts have also issued reports on the company. Jefferies Financial Group reiterated a "buy" rating and set a $55.00 price objective on shares of Monster Beverage in a research note on Friday. JPMorgan Chase & Co. reduced their target price on shares of Monster Beverage from $49.50 to $49.00 and set a "neutral" rating on the stock in a research note on Monday, October 26th. Wells Fargo & Company boosted their target price on shares of Monster Beverage from $50.00 to $52.00 and gave the company an "overweight" rating in a research note on Friday. Weiss Ratings raised shares of Monster Beverage from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, November 3rd. Finally, UBS Group reiterated a "neutral" rating and set a $50.00 target price (up from $49.00) on shares of Monster Beverage in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $67.09.

Monster Beverage Stock Performance

Shares of MNST opened at $45.72 on Monday. Monster Beverage has a 1 year low of $34.26 and a 1 year high of $50.17. The stock has a 50 day simple moving average of $44.71 and a 200-day simple moving average of $43.30. The stock has a market cap of $89.57 billion, a PE ratio of 41.38, a PEG ratio of 2.89 and a beta of 0.51.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.49 billion. Monster Beverage had a return on equity of 24.99% and a net margin of 22.66%. Monster Beverage's revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the company earned $0.56 EPS. On average, sell-side analysts forecast that Monster Beverage will post 1.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Monster Beverage

A number of hedge funds and other institutional investors have recently bought and sold shares of MNST. Retirement Wealth Solutions LLC boosted its position in shares of Monster Beverage by 113.4% in the third quarter. Retirement Wealth Solutions LLC now owns 604 shares of the company's stock valued at $25,000 after acquiring an additional 321 shares during the period. Davis Capital Management grew its stake in shares of Monster Beverage by 98.8% in the third quarter. Davis Capital Management now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 316 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Monster Beverage in the second quarter valued at about $27,000. Balance Wealth Partners LLC acquired a new position in shares of Monster Beverage in the third quarter valued at about $27,000. Finally, Jones Financial Companies Lllp bought a new position in Monster Beverage during the second quarter worth about $28,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Company Profile

Monster Beverage Corporation develops, markets and sells energy drinks and other beverages. Its portfolio includes Monster Energy, Reign, NOS and Full Throttle, along with products in categories such as sports drinks, juices and alcoholic beverages.

The company traces its roots to Hansen's, a beverage business established in the 1930s. It introduced the Monster Energy brand in 2002 and adopted the Monster Beverage name in 2012.

Based in Corona, California, Monster sells its products in the United States and internationally.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.