Celsius (NASDAQ:CELH) Given New $76.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has increased its price target for Celsius (NASDAQ:CELH) from $68.00 to $76.00, suggesting a potential upside of 22.68% from the current price.
• The stock has received multiple ratings upgrades, with a consensus rating of "Moderate Buy" from analysts and an average price target of $64.25.
• Celsius reported strong quarterly earnings, with a net revenue of $739.30 million, reflecting an 83.9% year-over-year increase in revenue.

Celsius (NASDAQ:CELH - Get Free Report) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $68.00 to $76.00 in a report released on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 22.68% from the company's current price.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC raised their price target on shares of Celsius from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Bank of America raised their price target on shares of Celsius from $40.00 to $55.00 and gave the company an "underperform" rating in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Celsius from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. The Goldman Sachs Group assumed coverage on shares of Celsius in a research report on Thursday, September 11th. They issued a "buy" rating and a $72.00 price target for the company. Finally, Citigroup reissued a "buy" rating on shares of Celsius in a research report on Sunday, August 31st. Nineteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $64.25.

Celsius Stock Up 0.6%

Celsius stock opened at $61.95 on Friday. Celsius has a fifty-two week low of $21.10 and a fifty-two week high of $66.74. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.76 and a current ratio of 2.11. The firm has a 50 day moving average price of $59.14 and a 200 day moving average price of $47.60. The company has a market capitalization of $15.98 billion, a PE ratio of 167.43, a price-to-earnings-growth ratio of 1.25 and a beta of 1.38.

Celsius (NASDAQ:CELH - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.24. Celsius had a net margin of 7.91% and a return on equity of 36.88%. The firm had revenue of $739.30 million during the quarter, compared to the consensus estimate of $632.13 million. During the same quarter last year, the firm earned $0.28 EPS. The firm's revenue for the quarter was up 83.9% on a year-over-year basis. Research analysts expect that Celsius will post 0.89 earnings per share for the current year.

Insider Buying and Selling at Celsius

In other news, insider Paul H. Storey sold 7,500 shares of Celsius stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $60.93, for a total transaction of $456,975.00. Following the completion of the sale, the insider directly owned 37,550 shares of the company's stock, valued at approximately $2,287,921.50. The trade was a 16.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Deborah Desantis sold 100,000 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $47.50, for a total transaction of $4,750,000.00. Following the completion of the sale, the insider directly owned 17,717,770 shares of the company's stock, valued at approximately $841,594,075. This trade represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 605,667 shares of company stock worth $30,065,162. 2.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Celsius

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. increased its stake in Celsius by 3.4% in the second quarter. Alliancebernstein L.P. now owns 18,662,921 shares of the company's stock valued at $865,773,000 after purchasing an additional 617,743 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Celsius by 20.9% during the second quarter. Ameriprise Financial Inc. now owns 2,470,088 shares of the company's stock worth $114,587,000 after acquiring an additional 426,623 shares during the period. Invesco Ltd. increased its stake in shares of Celsius by 1.8% during the first quarter. Invesco Ltd. now owns 2,394,811 shares of the company's stock worth $85,303,000 after acquiring an additional 42,997 shares during the period. Holocene Advisors LP increased its stake in shares of Celsius by 130.6% during the second quarter. Holocene Advisors LP now owns 2,108,041 shares of the company's stock worth $97,792,000 after acquiring an additional 1,193,707 shares during the period. Finally, MIG Capital LLC increased its stake in shares of Celsius by 42.7% during the first quarter. MIG Capital LLC now owns 1,575,939 shares of the company's stock worth $56,135,000 after acquiring an additional 471,287 shares during the period. 60.95% of the stock is owned by hedge funds and other institutional investors.

About Celsius

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.

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