Monster Beverage (NASDAQ:MNST) Price Target Increased to $59.00 by Analysts at Piper Sandler

Monster Beverage (NASDAQ:MNST - Get Free Report) had its price objective upped by equities research analysts at Piper Sandler from $58.00 to $59.00 in a research note issued on Friday, MarketBeat Ratings reports. The brokerage currently has a "neutral" rating on the stock. Piper Sandler's price target would indicate a potential upside of 7.27% from the stock's current price.

Several other research analysts have also commented on MNST. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Monster Beverage from $64.00 to $63.00 and set a "buy" rating for the company in a research note on Monday, February 26th. BMO Capital Markets lifted their price target on shares of Monster Beverage from $57.00 to $58.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 17th. HSBC decreased their price target on shares of Monster Beverage from $72.00 to $68.00 and set a "buy" rating for the company in a research note on Wednesday, March 6th. Stifel Nicolaus decreased their price target on shares of Monster Beverage from $65.00 to $63.00 and set a "buy" rating for the company in a research note on Monday. Finally, The Goldman Sachs Group lifted their price target on shares of Monster Beverage from $62.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $61.32.

Monster Beverage Stock Up 3.0 %

MNST stock traded up $1.61 during mid-day trading on Friday, hitting $55.00. 12,204,284 shares of the company were exchanged, compared to its average volume of 5,490,875. The firm has a market capitalization of $57.29 billion, a P/E ratio of 35.48, a PEG ratio of 2.19 and a beta of 0.74. The business has a fifty day simple moving average of $56.84 and a 200-day simple moving average of $55.73. Monster Beverage has a 12-month low of $47.13 and a 12-month high of $61.22.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.90 billion. Monster Beverage had a return on equity of 20.95% and a net margin of 22.84%. The company's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. Research analysts predict that Monster Beverage will post 1.8 EPS for the current year.

Insider Activity at Monster Beverage

In related news, Director Mark J. Hall sold 659,000 shares of Monster Beverage stock in a transaction on Monday, March 4th. The shares were sold at an average price of $58.55, for a total value of $38,584,450.00. Following the transaction, the director now directly owns 777,840 shares in the company, valued at approximately $45,542,532. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Monster Beverage

Several institutional investors have recently made changes to their positions in MNST. Peoples Bank KS purchased a new stake in shares of Monster Beverage during the 3rd quarter worth $26,000. ICA Group Wealth Management LLC purchased a new stake in shares of Monster Beverage during the 4th quarter worth $27,000. Headinvest LLC purchased a new stake in shares of Monster Beverage during the 3rd quarter worth $28,000. Tortoise Investment Management LLC boosted its position in shares of Monster Beverage by 360.0% during the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company's stock worth $29,000 after purchasing an additional 396 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Monster Beverage during the 3rd quarter worth $31,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

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.