Monster Beverage (NASDAQ:MNST) Stock Moved Up to "Strong-Buy" by Zacks Research

Key Points

• Zacks Research upgraded Monster Beverage to “strong buy” from “hold.” Overall analyst sentiment is “Moderate Buy,” with a consensus price target of $74.07.
• Monster Beverage shares opened at $43.31, down 1.0%, with a market capitalization of approximately $84.85 billion and a 52-week range of $32.94 to $50.17.
• The company exceeded quarterly expectations, reporting $0.60 in EPS versus $0.58 expected 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) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Monday, Zacks reports.

A number of other analysts have also recently commented on MNST. UBS Group upped their target price on shares of Monster Beverage from $52.00 to $52.50 and gave the company a "neutral" rating in a report on Friday, August 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $48.50 price target (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $100.00 price target (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. Wells Fargo & Company cut their price objective on shares of Monster Beverage from $53.00 to $48.00 and set an "overweight" rating for the company in a research report on Monday, October 5th. Finally, Stifel Nicolaus boosted their price objective on shares of Monster Beverage from $45.00 to $52.50 and gave the company a "buy" rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Monster Beverage presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.07.

Monster Beverage Stock Down 1.0%

Shares of Monster Beverage stock opened at $43.31 on Monday. The company has a market cap of $84.85 billion, a price-to-earnings ratio of 40.10, a price-to-earnings-growth ratio of 2.71 and a beta of 0.49. The company's 50 day moving average is $44.79 and its 200 day moving average is $43.96. Monster Beverage has a twelve month low of $32.94 and a twelve month high of $50.17.

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

Institutional Inflows and Outflows

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

About Monster Beverage

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.

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