Monster Beverage (NASDAQ:MNST) Price Target Cut to $49.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan cut Monster Beverage’s price target from $49.50 to $49.00 while maintaining a “neutral” rating, implying approximately 5.79% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $71.86, despite differing views from other research firms.
• Monster Beverage recently exceeded quarterly expectations, reporting $0.60 in earnings per share and $2.50 billion in revenue, up 20.2% year over year; institutional investors own 72.36% of the stock.

Monster Beverage (NASDAQ:MNST - Get Free Report) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $49.50 to $49.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 5.79% from the stock's previous close.

MNST has been the topic of several other research reports. Weiss Ratings downgraded Monster Beverage from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, October 19th. Jefferies Financial Group dropped their target price on Monster Beverage from $108.00 to $54.00 and set a "buy" rating for the company in a research report on Thursday, September 3rd. The Goldman Sachs Group boosted their target price on Monster Beverage from $106.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Citigroup restated a "buy" rating on shares of Monster Beverage in a research report on Thursday. Finally, BNP Paribas Exane reissued a "neutral" rating and set a $98.00 price objective (up from $84.00) on shares of Monster Beverage in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.86.

Monster Beverage Price Performance

Shares of MNST traded up $0.13 during trading hours on Monday, hitting $46.32. 1,410,958 shares of the stock were exchanged, compared to its average volume of 11,092,617. The firm has a market capitalization of $90.74 billion, a P/E ratio of 42.88, a price-to-earnings-growth ratio of 2.91 and a beta of 0.49. The business has a 50-day moving average of $44.77 and a 200-day moving average of $44.52. Monster Beverage has a fifty-two week low of $32.94 and a fifty-two week high of $50.17.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the business earned $0.26 EPS. The firm's revenue for the quarter was up 20.2% on a year-over-year basis. As a group, analysts forecast that Monster Beverage will post 1.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Monster Beverage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNST. Johnson Financial Group Inc. bought a new stake in shares of Monster Beverage during the 2nd quarter worth approximately $27,000. Jones Financial Companies Lllp bought a new stake in Monster Beverage during the second quarter valued at about $28,000. Trust Co. of Vermont purchased a new stake in Monster Beverage during the second quarter valued at approximately $30,000. NBH Bank acquired a new stake in shares of Monster Beverage in the 2nd quarter worth $32,000. Finally, Clearstead Trust LLC purchased a new stake in shares of Monster Beverage during the second quarter worth about $32,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

About Monster Beverage

Monster Beverage Corporation is a global beverage company focused primarily on the development, marketing, sale and distribution of energy drinks. Its portfolio includes the flagship Monster Energy brand, along with products marketed under brands such as NOS, Full Throttle, Reign, Burn and Mother. The company offers a range of energy drinks in different flavors and formulations, including products positioned for performance, fitness and everyday consumption.

The company traces its origins to Hansen Natural Corporation, which was founded in 1935 and changed its name to Monster Beverage Corporation in 2012 as the Monster Energy brand became increasingly central to its business.

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