Zevia PBC (NYSE:ZVIA) Given New $6.00 Price Target at BMO Capital Markets

Key Points

• BMO Capital Markets has raised its price target for Zevia PBC (NYSE:ZVIA) from $5.00 to $6.00, indicating a potential upside of 74.67% from the current stock price.
• Telsey Advisory Group upgraded Zevia PBC from a "market perform" to an "outperform" rating, increasing its price target from $3.00 to $5.00.
• Zevia PBC recently reported better-than-expected earnings with a revenue of $44.52 million, surpassing analyst estimates of $41.63 million.

Zevia PBC (NYSE:ZVIA - Free Report) had its price objective raised by BMO Capital Markets from $5.00 to $6.00 in a research note published on Thursday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Separately, Telsey Advisory Group raised Zevia PBC from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $3.00 to $5.00 in a research note on Monday, August 4th.

Zevia PBC Stock Performance

NYSE ZVIA traded down $0.22 on Thursday, hitting $3.10. 469,705 shares of the stock were exchanged, compared to its average volume of 704,589. The firm has a market capitalization of $229.71 million, a P/E ratio of -14.07 and a beta of 0.90. Zevia PBC has a 52-week low of $0.81 and a 52-week high of $4.99. The stock has a fifty day moving average price of $3.07 and a two-hundred day moving average price of $2.82.

Zevia PBC (NYSE:ZVIA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The firm had revenue of $44.52 million for the quarter, compared to the consensus estimate of $41.63 million. Zevia PBC had a negative net margin of 8.97% and a negative return on equity of 27.86%. Sell-side analysts expect that Zevia PBC will post -0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ZVIA. Police & Firemen s Retirement System of New Jersey acquired a new position in Zevia PBC in the second quarter valued at $25,000. Outlook Wealth Advisors LLC acquired a new stake in Zevia PBC during the first quarter valued at approximately $29,000. Wolverine Trading LLC acquired a new stake in shares of Zevia PBC during the 4th quarter worth approximately $39,000. Stifel Financial Corp acquired a new stake in Zevia PBC in the 4th quarter valued at approximately $42,000. Finally, DKM Wealth Management Inc. acquired a new stake in Zevia PBC in the 2nd quarter valued at approximately $42,000. 53.21% of the stock is currently owned by hedge funds and other institutional investors.

Zevia PBC Company Profile

Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated beverages in the United States and Canada. It offers soda, energy drinks, organic tea, and kidz drinks. The company offers its products through a network of food, drug, warehouse club, mass, natural, convenience, and e-commerce channels, as well as grocery distributors and natural product stores and specialty outlets.