Celsius (NASDAQ:CELH) Price Target Raised to $40.00

Key Points

• Bank of America has raised its price target for Celsius (NASDAQ:CELH) from $35.00 to $40.00, indicating a potential downside of 20.19% from its current stock price despite maintaining an "underperform" rating.
• Celsius has reported a significant 83.9% increase in revenue year-over-year, reaching $739.30 million for the quarter, and has earnings per share (EPS) of $0.47, surpassing analyst expectations.
• Multiple analysts have a bullish outlook on Celsius, with four giving it a "buy" rating and an average price target of approximately $48.89, while 60.95% of the stock is owned by institutional investors.

Celsius (NASDAQ:CELH - Get Free Report) had its price objective raised by equities research analysts at Bank of America from $35.00 to $40.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "underperform" rating on the stock. Bank of America's price target indicates a potential downside of 20.19% from the company's current price.

Several other analysts have also issued reports on CELH. Truist Financial upped their price objective on Celsius from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Wells Fargo & Company upped their price target on shares of Celsius from $44.00 to $45.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Citigroup assumed coverage on shares of Celsius in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $55.00 price objective on the stock. Needham & Company LLC upped their target price on Celsius from $47.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Finally, Stifel Nicolaus lifted their price target on Celsius from $47.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Celsius currently has a consensus rating of "Moderate Buy" and an average price target of $48.89.

Celsius Stock Up 17.3%

Shares of CELH opened at $50.12 on Friday. Celsius has a twelve month low of $21.10 and a twelve month high of $53.07. The stock has a market capitalization of $12.92 billion, a P/E ratio of 156.63, a P/E/G ratio of 1.49 and a beta of 1.40. The company has a 50 day moving average of $44.23 and a 200-day moving average of $35.88.

Celsius (NASDAQ:CELH - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.24. Celsius had a net margin of 8.40% and a return on equity of 42.12%. The business 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 earnings per share. The firm's revenue for the quarter was up 83.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Celsius will post 0.89 earnings per share for the current fiscal year.

Insider Transactions at Celsius

In related news, major shareholder Deborah Desantis sold 100,000 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $47.50, for a total value of $4,750,000.00. Following the completion of the sale, the insider directly owned 17,717,770 shares in the company, valued at $841,594,075. This represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Fieldly sold 132,171 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $43.06, for a total value of $5,691,283.26. Following the completion of the sale, the chief executive officer owned 1,169,380 shares in the company, valued at $50,353,502.80. This trade represents a 10.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 962,974 shares of company stock worth $44,658,418. Company insiders own 2.55% of the company's stock.

Institutional Investors Weigh In On Celsius

Several large investors have recently modified their holdings of CELH. SBI Securities Co. Ltd. boosted its holdings in shares of Celsius by 14.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 5,738 shares of the company's stock worth $266,000 after buying an additional 726 shares in the last quarter. Allworth Financial LP boosted its stake in Celsius by 1,993.0% during the second quarter. Allworth Financial LP now owns 11,135 shares of the company's stock worth $517,000 after acquiring an additional 10,603 shares in the last quarter. ProShare Advisors LLC boosted its stake in Celsius by 3.9% during the second quarter. ProShare Advisors LLC now owns 6,970 shares of the company's stock worth $323,000 after acquiring an additional 261 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in Celsius in the second quarter worth $5,386,000. Finally, Future Fund LLC bought a new stake in Celsius in the second quarter valued at $833,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Celsius Company Profile

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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