Citigroup Raises Celsius (NASDAQ:CELH) Price Target to $60.00

Key Points

• Citigroup has raised its price target for Celsius Holdings (NASDAQ:CELH) from $55.00 to $60.00, reflecting a potential upside of 15.50% from its previous close.
• Other analysts have also increased their price targets for Celsius, with estimates ranging from $40.00 to $64.00, and the stock currently holds a rating of "Moderate Buy" with an average target price of $50.89.
• In recent insider transactions, CEO John Fieldly sold 143,167 shares at an average price of $51.18, reducing his ownership by 13.78% and indicating potential insider confidence shifts.

Celsius (NASDAQ:CELH - Get Free Report) had its price objective increased by equities research analysts at Citigroup from $55.00 to $60.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's target price indicates a potential upside of 15.50% from the stock's previous close.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Celsius from $44.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Morgan Stanley lifted their price objective on shares of Celsius from $42.00 to $56.00 and gave the company an "equal weight" rating in a research report on Friday. Piper Sandler lifted their price objective on shares of Celsius from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Bank of America lifted their price objective on shares of Celsius from $35.00 to $40.00 and gave the company an "underperform" rating in a research report on Friday. Finally, UBS Group lifted their price objective on shares of Celsius from $57.00 to $64.00 and gave the company a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $50.89.

Celsius Price Performance

CELH traded up $1.83 during trading hours on Friday, reaching $51.95. 10,291,968 shares of the stock traded hands, compared to its average volume of 8,265,111. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 162.35, a PEG ratio of 1.49 and a beta of 1.40. Celsius has a fifty-two week low of $21.10 and a fifty-two week high of $53.85. The firm's fifty day simple moving average is $44.23 and its two-hundred day simple moving average is $35.88.

Celsius (NASDAQ:CELH - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.24. Celsius had a net margin of 8.40% and a return on equity of 42.12%. The company had revenue of $739.30 million during the quarter, compared to analyst estimates of $632.13 million. During the same period last year, the business earned $0.28 EPS. The firm's revenue for the quarter was up 83.9% compared to the same quarter last year. On average, research analysts predict that Celsius will post 0.89 earnings per share for the current year.

Insider Transactions at Celsius

In other news, 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 transaction, the chief executive officer directly owned 895,410 shares of the company's stock, valued at $45,827,083.80. This trade represents a 13.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Deborah Desantis sold 100,000 shares of Celsius 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 transaction, the insider directly owned 17,717,770 shares in the company, 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. Insiders have sold a total of 1,106,141 shares of company stock valued at $51,985,705 over the last ninety days. Corporate insiders own 2.55% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Triumph Capital Management grew its position in Celsius by 41.5% during the fourth quarter. Triumph Capital Management now owns 40,420 shares of the company's stock valued at $1,065,000 after purchasing an additional 11,863 shares in the last quarter. Fifth Third Bancorp grew its position in Celsius by 62.9% during the first quarter. Fifth Third Bancorp now owns 1,725 shares of the company's stock valued at $61,000 after purchasing an additional 666 shares in the last quarter. GAMMA Investing LLC grew its position in Celsius by 4,164.4% during the first quarter. GAMMA Investing LLC now owns 73,092 shares of the company's stock valued at $2,604,000 after purchasing an additional 71,378 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Celsius by 14.0% during the first quarter. Oppenheimer & Co. Inc. now owns 9,760 shares of the company's stock valued at $348,000 after purchasing an additional 1,199 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in Celsius by 21.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 45,517 shares of the company's stock valued at $1,621,000 after purchasing an additional 8,009 shares in the last quarter. 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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