Monster Beverage (NASDAQ:MNST) Stock Price Target Lowered at Evercore

Key Points

• Evercore sharply lowered Monster Beverage’s price target from $95 to $52, implying roughly 19% upside from the previous close. The stock retains a “Moderate Buy” consensus rating, with an average target of $74.07 from analysts.
• Monster Beverage reported quarterly EPS of $0.60, exceeding the $0.58 consensus, while revenue reached $2.50 billion, up 20.2% year over year and above estimates.
• The stock opened at $43.64 and trades near its 50-day and 200-day moving averages, with a 52-week range of $32.94 to $50.17. Institutional investors own approximately 72.36% of the shares.

Monster Beverage (NASDAQ:MNST - Get Free Report) had its price objective cut by equities research analysts at Evercore from $95.00 to $52.00 in a report issued on Thursday. Evercore's price target would suggest a potential upside of 19.16% from the company's previous close.

Several other research firms also recently issued reports on MNST. Sanford C. Bernstein started coverage on Monster Beverage in a report on Friday, June 12th. They set a "market perform" rating and a $47.50 price objective on the stock. Citigroup reiterated a "buy" rating on shares of Monster Beverage in a research note on Wednesday, August 12th. Wells Fargo & Company decreased their price target 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. UBS Group raised their price target on shares of Monster Beverage from $52.00 to $52.50 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $100.00 price target (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $74.07.

Monster Beverage Price Performance

NASDAQ:MNST opened at $43.64 on Thursday. The firm has a 50-day moving average of $44.92 and a two-hundred day moving average of $43.82. The stock has a market cap of $85.49 billion, a P/E ratio of 40.41, a PEG ratio of 2.85 and a beta of 0.49. Monster Beverage has a 1-year low of $32.94 and a 1-year high of $50.17.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. As a group, equities analysts expect that Monster Beverage will post 1.11 earnings per share for the current year.

Hedge Funds Weigh In On Monster Beverage

Several large investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its position in shares of Monster Beverage by 6.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 197,899 shares of the company's stock worth $15,173,000 after buying an additional 12,050 shares during the period. Oxbow Advisors LLC increased its position in Monster Beverage by 70.7% in the 1st quarter. Oxbow Advisors LLC now owns 85,814 shares of the company's stock valued at $6,218,000 after acquiring an additional 35,528 shares during the period. Whittier Trust Co. increased its position in Monster Beverage by 2,304.9% in the 1st quarter. Whittier Trust Co. now owns 231,852 shares of the company's stock valued at $17,194,000 after acquiring an additional 222,211 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Monster Beverage by 16.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,176,347 shares of the company's stock valued at $473,541,000 after acquiring an additional 861,215 shares in the last quarter. Finally, Swedbank AB raised its stake in Monster Beverage by 19.6% during the 1st quarter. Swedbank AB now owns 472,529 shares of the company's stock valued at $34,239,000 after acquiring an additional 77,485 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

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.

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