Monster Beverage (NASDAQ:MNST) Given New $78.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus has raised its price target for Monster Beverage from $72.00 to $78.00, indicating a potential upside of 11.60% from the company's previous close and giving the stock a "buy" rating.
• Several analysts have varying ratings on the stock, with 13 analysts recommending a "buy," 8 recommending "hold," and 2 suggesting "sell." The average consensus target price stands at $66.43.
• Monster Beverage reported strong quarterly earnings, with $2.11 billion in revenue and an EPS of $0.52, surpassing expectations and reflecting an 11.1% year-over-year revenue increase.

Monster Beverage (NASDAQ:MNST - Get Free Report) had its target price lifted by investment analysts at Stifel Nicolaus from $72.00 to $78.00 in a research note issued to investors on Friday. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' target price would indicate a potential upside of 11.60% from the company's previous close.

Several other equities research analysts have also issued reports on the stock. Rothschild & Co Redburn lowered shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price target on the stock. in a research note on Wednesday, July 9th. Piper Sandler upgraded shares of Monster Beverage from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $54.00 to $74.00 in a research note on Thursday, August 7th. Wall Street Zen lowered shares of Monster Beverage from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. UBS Group lifted their price target on shares of Monster Beverage from $67.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, October 8th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Monster Beverage in a research note on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $66.43.

Monster Beverage Trading Up 0.2%

MNST opened at $69.89 on Friday. The stock has a market capitalization of $68.24 billion, a P/E ratio of 43.41, a P/E/G ratio of 2.42 and a beta of 0.54. Monster Beverage has a 12 month low of $45.70 and a 12 month high of $70.72. The firm's fifty day simple moving average is $65.57 and its 200 day simple moving average is $62.63.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The business had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 EPS. On average, equities research analysts predict that Monster Beverage will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark Vidergauz sold 10,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the transaction, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Armstrong Advisory Group Inc. grew its stake in Monster Beverage by 49.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company's stock valued at $30,000 after buying an additional 146 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Monster Beverage by 4.1% in the 3rd quarter. D.A. Davidson & CO. now owns 3,930 shares of the company's stock valued at $265,000 after purchasing an additional 155 shares during the period. Ashton Thomas Securities LLC boosted its holdings in Monster Beverage by 1.0% in the 2nd quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company's stock valued at $1,064,000 after purchasing an additional 174 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in Monster Beverage by 13.4% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,490 shares of the company's stock valued at $93,000 after purchasing an additional 176 shares during the period. Finally, Pinnacle Associates Ltd. boosted its holdings in Monster Beverage by 4.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company's stock valued at $286,000 after purchasing an additional 189 shares during the period. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.

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