Celsius (NASDAQ:CELH) Price Target Raised to $70.00 at Needham & Company LLC

Key Points

• Needham & Company LLC has increased its target price for Celsius stock from $60.00 to $70.00, indicating a potential upside of 15.21% from its current price and maintaining a "buy" rating.
• In its latest quarterly earnings, Celsius reported $0.47 EPS and revenue of $739.30 million, significantly surpassing analysts' estimates, with an 83.9% year-over-year revenue increase.
• Despite various analysts maintaining "buy" ratings, one firm downgraded Celsius from "buy" to "hold", highlighting mixed sentiments among analysts as they rate the stock with an average of "Moderate Buy" and a consensus target price of $59.89.

Celsius (NASDAQ:CELH - Get Free Report) had its price target boosted by research analysts at Needham & Company LLC from $60.00 to $70.00 in a research note issued to investors on Friday, Marketbeat reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price objective suggests a potential upside of 24.91% from the stock's current price.

A number of other brokerages also recently issued reports on CELH. Morgan Stanley lifted their price target on Celsius from $56.00 to $61.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 2nd. Jefferies Financial Group set a $72.00 target price on Celsius and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Cowen reaffirmed a "buy" rating on shares of Celsius in a report on Tuesday, September 2nd. Stifel Nicolaus raised their price objective on shares of Celsius from $56.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Finally, Bank of America boosted their price objective on shares of Celsius from $35.00 to $40.00 and gave the stock an "underperform" rating in a research report on Friday, August 8th. Seventeen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $61.42.

Celsius Stock Up 0.7%

Celsius stock traded up $0.40 during trading on Friday, reaching $56.04. The stock had a trading volume of 4,921,542 shares, compared to its average volume of 8,062,767. The company has a quick ratio of 1.76, a current ratio of 2.11 and a debt-to-equity ratio of 0.68. Celsius has a 52-week low of $21.10 and a 52-week high of $63.50. The stock has a market cap of $14.46 billion, a PE ratio of 151.46, a P/E/G ratio of 1.32 and a beta of 1.33. The business has a 50 day moving average price of $51.50 and a 200 day moving average price of $41.40.

Celsius (NASDAQ:CELH - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.24. The company had revenue of $739.30 million for the quarter, compared to the consensus estimate of $632.13 million. Celsius had a net margin of 7.91% and a return on equity of 36.88%. The company's quarterly revenue was up 83.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 EPS. On average, analysts predict that Celsius will post 0.89 EPS for the current year.

Insiders Place Their Bets

In other Celsius news, major shareholder Deborah Desantis sold 100,000 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was 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 $841,594,075. This represents a 0.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Fieldly sold 143,167 shares of Celsius stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $51.18, for a total value of $7,327,287.06. Following the completion of the transaction, the chief executive officer owned 895,410 shares in the company, valued at $45,827,083.80. This trade represents a 13.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 991,470 shares of company stock valued at $47,307,297. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Celsius

Hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. grew its position in Celsius by 3.4% in the 2nd quarter. Alliancebernstein L.P. now owns 18,662,921 shares of the company's stock valued at $865,773,000 after buying an additional 617,743 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Celsius by 20.9% in the 2nd 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. boosted its holdings in shares of Celsius by 1.8% in the first quarter. Invesco Ltd. now owns 2,394,811 shares of the company's stock valued at $85,303,000 after acquiring an additional 42,997 shares in the last quarter. 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 raised its holdings in 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 purchasing an additional 471,287 shares in the last quarter. 60.95% of the stock is 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.