Monster Beverage (NASDAQ:MNST) Price Target Cut to $80.00 by Analysts at TD Cowen

Key Points

• TD Cowen cut its price target on Monster Beverage to $80 (from $88) and kept a "hold" rating, implying roughly a 3.8% upside from the current share price.
• Analyst consensus is a Moderate Buy with an average price target of $83, based on 14 Buys, 8 Holds and 1 Sell.
• Monster recently beat expectations with Q results of $0.51 EPS vs. $0.49 expected and $2.10B revenue vs. $2.04B, with revenue up 17.6% YoY; shares trade near $77 with a market cap of ~$75.4B and a P/E around 39.7.

Monster Beverage (NASDAQ:MNST - Get Free Report) had its price target reduced by investment analysts at TD Cowen from $88.00 to $80.00 in a note issued to investors on Monday, Marketbeat reports. The firm presently has a "hold" rating on the stock. TD Cowen's target price would indicate a potential upside of 3.82% from the stock's current price.

Several other research firms have also commented on MNST. Jefferies Financial Group set a $100.00 target price on Monster Beverage in a report on Wednesday, March 11th. JPMorgan Chase & Co. lifted their target price on shares of Monster Beverage from $79.00 to $81.00 and gave the company a "neutral" rating in a report on Friday, February 27th. Morgan Stanley reiterated an "overweight" rating and issued a $96.00 target price (up from $87.00) on shares of Monster Beverage in a research note on Monday, January 26th. Piper Sandler raised their price target on shares of Monster Beverage from $85.00 to $94.00 and gave the company an "overweight" rating in a research report on Friday, February 27th. Finally, Stifel Nicolaus lifted their price objective on shares of Monster Beverage from $82.00 to $92.00 and gave the company a "buy" rating in a report on Friday, February 27th. Fourteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Monster Beverage has an average rating of "Moderate Buy" and an average price target of $83.00.

Monster Beverage Stock Up 0.4%

Shares of NASDAQ:MNST traded up $0.34 during midday trading on Monday, reaching $77.06. The company's stock had a trading volume of 233,027 shares, compared to its average volume of 5,879,537. The firm has a market capitalization of $75.35 billion, a PE ratio of 39.71, a P/E/G ratio of 2.68 and a beta of 0.51. Monster Beverage has a twelve month low of $57.01 and a twelve month high of $87.38. The stock has a fifty day moving average of $77.45 and a 200 day moving average of $75.24.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.02. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.04 billion. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The firm's quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. Sell-side analysts anticipate that Monster Beverage will post 1.62 earnings per share for the current fiscal year.

Institutional Trading of Monster Beverage

A number of institutional investors and hedge funds have recently modified their holdings of MNST. Harbor Investment Advisory LLC boosted its holdings in Monster Beverage by 136.7% in the 4th quarter. Harbor Investment Advisory LLC now owns 355 shares of the company's stock worth $27,000 after buying an additional 205 shares during the last quarter. Physician Wealth Advisors Inc. raised its holdings in shares of Monster Beverage by 508.1% during the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company's stock valued at $25,000 after acquiring an additional 315 shares during the last quarter. MV Capital Management Inc. purchased a new position in shares of Monster Beverage in the fourth quarter valued at approximately $30,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Monster Beverage in the third quarter worth approximately $27,000. Finally, First Horizon Corp purchased a new stake in shares of Monster Beverage during the third quarter worth approximately $29,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Monster Beverage Company Profile

Monster Beverage Corporation NASDAQ: MNST is an American beverage company best known for its Monster Energy brand of energy drinks. The company's product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen's Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.

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