BMO Capital Markets Increases Zevia PBC (NYSE:ZVIA) Price Target to $6.00

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 released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Separately, Telsey Advisory Group upgraded Zevia PBC from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $3.00 to $5.00 in a report on Monday, August 4th.

Zevia PBC Price Performance

Shares of ZVIA stock remained flat at $3.31 on Thursday. The stock had a trading volume of 876,291 shares, compared to its average volume of 742,913. Zevia PBC has a twelve month low of $0.81 and a twelve month high of $4.99. The company has a market capitalization of $245.67 million, a P/E ratio of -15.05 and a beta of 0.90. The company has a 50-day moving average of $3.07 and a 200 day moving average of $2.85.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey purchased a new position in Zevia PBC in the second quarter valued at about $25,000. Outlook Wealth Advisors LLC purchased a new position in Zevia PBC in the first quarter valued at about $29,000. Wolverine Trading LLC purchased a new position in Zevia PBC in the fourth quarter valued at about $39,000. Stifel Financial Corp purchased a new position in Zevia PBC in the fourth quarter valued at about $42,000. Finally, DKM Wealth Management Inc. purchased a new position in Zevia PBC in the second quarter valued at about $42,000. Hedge funds and other institutional investors own 53.21% of the company's stock.

About Zevia PBC

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.