Monster Beverage (NASDAQ:MNST) Price Target Lowered to $96.00 at Bank of America

Key Points

• Bank of America cut its price target on Monster Beverage from $100 to $96 but kept a "buy" rating, which the firm says implies roughly a 26% upside from the current share price.
• Analyst consensus remains positive with 14 Buy, 8 Hold, and 1 Sell ratings and an average price target of $83.48.
• Monster beat quarterly estimates with EPS of $0.51 and revenue of $2.10 billion (up 17.6% YoY); shares traded around $76 with a market cap near $74.5 billion and a P/E of about 39.

Monster Beverage (NASDAQ:MNST - Get Free Report) had its price target reduced by stock analysts at Bank of America from $100.00 to $96.00 in a report issued on Friday. The firm currently has a "buy" rating on the stock. Bank of America's target price suggests a potential upside of 26.00% from the stock's current price.

A number of other equities analysts also recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Monster Beverage from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday. Morgan Stanley restated an "overweight" rating and set a $96.00 price objective (up from $87.00) on shares of Monster Beverage in a report on Monday, January 26th. Jefferies Financial Group lifted their price objective on shares of Monster Beverage from $80.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Monster Beverage from $94.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, March 30th. Finally, Piper Sandler increased their target price 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. Fourteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Monster Beverage currently has an average rating of "Moderate Buy" and an average price target of $83.48.

Monster Beverage Trading Up 1.4%

Shares of MNST opened at $76.19 on Friday. The stock has a 50 day moving average of $78.19 and a 200 day moving average of $74.70. The company has a market capitalization of $74.51 billion, a price-to-earnings ratio of 39.27, a PEG ratio of 2.48 and a beta of 0.51. Monster Beverage has a 12 month low of $56.91 and a 12 month high of $87.38.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The business had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The business's revenue was up 17.6% on a year-over-year basis. As a group, equities research analysts predict that Monster Beverage will post 1.62 earnings per share for the current year.

Institutional Investors Weigh In On Monster Beverage

Several institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its stake in shares of Monster Beverage by 397.9% during the 1st quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company's stock valued at $890,000 after buying an additional 12,148 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Monster Beverage by 247.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company's stock valued at $813,000 after acquiring an additional 9,251 shares during the period. Cresset Asset Management LLC raised its holdings in Monster Beverage by 23.9% during the 2nd quarter. Cresset Asset Management LLC now owns 6,652 shares of the company's stock valued at $417,000 after acquiring an additional 1,281 shares during the period. Federated Hermes Inc. lifted its position in shares of Monster Beverage by 55.9% during the second quarter. Federated Hermes Inc. now owns 4,798 shares of the company's stock worth $301,000 after acquiring an additional 1,721 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Monster Beverage by 151.7% during the second quarter. NewEdge Advisors LLC now owns 34,075 shares of the company's stock worth $2,134,000 after acquiring an additional 20,538 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

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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