Monster Beverage (NASDAQ:MNST) Price Target Raised to $76.00 at Citigroup

Key Points

• Citigroup raised Monster Beverage's price target from $74.00 to $76.00, suggesting an 18.10% potential upside from the current price, while maintaining a "buy" rating on the stock.
• The company reported strong quarterly earnings, with an EPS of $0.52—exceeding analysts' expectations—and a year-over-year revenue increase of 11.1% to $2.11 billion.
• Analyst ratings for Monster Beverage are mixed, with twelve analysts rating it a "buy," eight a "hold," and two a "sell," indicating a generally positive outlook despite variability in recommendations.

Monster Beverage (NASDAQ:MNST - Get Free Report) had its price target raised by equities research analysts at Citigroup from $74.00 to $76.00 in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm presently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 18.10% from the company's current price.

A number of other research analysts have also weighed in on MNST. Piper Sandler upgraded Monster Beverage from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $54.00 to $74.00 in a research report on Thursday, August 7th. Morgan Stanley raised their price objective on shares of Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Bank of America lifted their price target on shares of Monster Beverage from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Stifel Nicolaus assumed coverage on shares of Monster Beverage in a report on Thursday, June 12th. They set a "buy" rating and a $72.00 price objective on the stock. Finally, Wall Street Zen lowered shares of Monster Beverage from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $65.19.

Monster Beverage Stock Performance

Shares of MNST stock opened at $64.35 on Tuesday. Monster Beverage has a 52-week low of $45.70 and a 52-week high of $66.75. The firm has a market capitalization of $62.83 billion, a PE ratio of 39.97, a PEG ratio of 2.25 and a beta of 0.54. The stock has a fifty day simple moving average of $61.72 and a two-hundred day simple moving average of $60.63.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the business posted $0.41 EPS. Monster Beverage's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts forecast that Monster Beverage will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.80% of the company's stock.

Institutional Trading of Monster Beverage

Institutional investors and hedge funds have recently modified their holdings of the stock. Twin Capital Management Inc. increased its stake in shares of Monster Beverage by 11.6% during the first quarter. Twin Capital Management Inc. now owns 5,213 shares of the company's stock worth $305,000 after purchasing an additional 540 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Monster Beverage by 2.4% during the first quarter. Nisa Investment Advisors LLC now owns 315,704 shares of the company's stock worth $18,475,000 after purchasing an additional 7,465 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Monster Beverage by 76.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company's stock worth $3,915,000 after purchasing an additional 28,932 shares in the last quarter. Principal Financial Group Inc. grew its stake in Monster Beverage by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,289,392 shares of the company's stock valued at $75,455,000 after acquiring an additional 11,443 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in Monster Beverage by 3.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 423,548 shares of the company's stock valued at $24,786,000 after acquiring an additional 15,493 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.

About Monster Beverage

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.