Monster Beverage (NASDAQ:MNST) Stock Gets Price Target Boost from Piper Sandler

Key Points

• Piper Sandler raised its Monster Beverage price target from $50.50 to $53.00 and maintained an “overweight” rating, implying 10.81% upside from the stock’s current price.
• Third-quarter sales increased 16.7% year over year and topped estimates, while adjusted earnings of $0.30 per share matched consensus.
• Despite sales growth, margin pressure and the lack of an earnings beat weighed on investor sentiment and contributed to a post-results share decline. Analysts overall hold a “Moderate Buy” consensus rating, with an average price target of $69.45.

Monster Beverage (NASDAQ:MNST - Get Free Report) had its target price lifted by investment analysts at Piper Sandler from $50.50 to $53.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price target indicates a potential upside of 10.81% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $48.50 price target (down from $97.00) on shares of Monster Beverage in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $100.00 target price (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. JPMorgan Chase & Co. lowered their target price on Monster Beverage from $49.50 to $49.00 and set a "neutral" rating for the company in a research note on Monday, October 26th. BMO Capital Markets reiterated a "market perform" rating and issued a $47.50 price target (up from $36.50) on shares of Monster Beverage in a research note on Monday, July 20th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $50.00 price target (up from $48.00) on shares of Monster Beverage in a report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $69.45.

Monster Beverage Stock Performance

Monster Beverage stock opened at $47.83 on Friday. The firm has a market capitalization of $93.70 billion, a PE ratio of 44.29, a price-to-earnings-growth ratio of 3.07 and a beta of 0.51. Monster Beverage has a one year low of $32.94 and a one year high of $50.17. The stock's 50 day moving average price is $44.73 and its 200 day moving average price is $43.27.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Friday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.30. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the firm posted $0.56 earnings per share. The business's quarterly revenue was up 16.7% on a year-over-year basis. On average, analysts forecast that Monster Beverage will post 1.16 earnings per share for the current fiscal year.

Institutional Trading of Monster Beverage

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

Monster Beverage News Roundup

Here are the key news stories impacting Monster Beverage this week:

• Positive Sentiment: Net sales rose 16.7% year over year to $2.56 billion, topping analysts’ estimates. Sales outside the U.S. climbed 28.1% to $1.20 billion, or 47% of total revenue, while net income reached $568.4 million. Monster Beverage third-quarter results
• Neutral Sentiment: Adjusted earnings were $0.30 per share, in line with consensus; GAAP diluted earnings were $0.29 per share, up 7.8% year over year. Zacks earnings report
• Negative Sentiment: Investors appeared to focus on margin pressure and the lack of an earnings beat, overshadowing the revenue growth and contributing to the post-results decline in MNST shares. Coverage of shares and margin pressure

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.

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.