Royal Bank Of Canada Forecasts Strong Price Appreciation for Monster Beverage (NASDAQ:MNST) Stock

Key Points

• Royal Bank of Canada has raised the price target for Monster Beverage (NASDAQ:MNST) from $68.00 to $75.00, indicating a potential upside of 8.65% from the current price.
• Monster Beverage reported a 12-month revenue increase of 11.1% year-over-year, with quarterly earnings per share of $0.52, surpassing analysts' expectations of $0.48.
• Thirteen investment analysts have rated Monster Beverage with a Buy rating, while overall, the company has an average target price of $66.05 and an average rating of "Hold."

Monster Beverage (NASDAQ:MNST - Get Free Report) had its price target raised by equities research analysts at Royal Bank Of Canada from $68.00 to $75.00 in a report issued on Friday. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target indicates a potential upside of 8.65% from the company's current price.

Several other equities research analysts have also issued reports on MNST. The Goldman Sachs Group increased their target price on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Rothschild & Co Redburn downgraded shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price objective for the company. in a report on Wednesday, July 9th. Piper Sandler upgraded shares of Monster Beverage from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $54.00 to $74.00 in a report on Thursday, August 7th. Stifel Nicolaus started coverage on shares of Monster Beverage in a report on Thursday, June 12th. They set a "buy" rating and a $72.00 price target for the company. Finally, UBS Group increased their price objective on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a "neutral" rating in a research report on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $66.05.

Monster Beverage Trading Up 0.4%

Shares of MNST stock opened at $69.03 on Friday. The business's fifty day simple moving average is $64.10 and its 200-day simple moving average is $61.87. The company has a market cap of $67.40 billion, a PE ratio of 42.88, a PEG ratio of 2.39 and a beta of 0.54. Monster Beverage has a 12-month low of $45.70 and a 12-month high of $69.28.

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 for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the firm posted $0.41 earnings per share. The business's quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts forecast that Monster Beverage will post 1.62 earnings per share for the current year.

Insiders Place Their Bets

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 transaction of $637,300.00. Following the transaction, the director directly 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 filing with the SEC, which can be accessed through this link. Insiders own 8.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Monster Beverage in the second quarter valued at about $544,584,000. Nuveen LLC purchased a new stake in shares of Monster Beverage in the first quarter valued at about $497,157,000. Schroder Investment Management Group lifted its holdings in shares of Monster Beverage by 4,877.8% in the second quarter. Schroder Investment Management Group now owns 7,283,879 shares of the company's stock valued at $456,262,000 after purchasing an additional 7,137,552 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Monster Beverage by 467.0% during the second quarter. AQR Capital Management LLC now owns 6,849,036 shares of the company's stock valued at $422,996,000 after buying an additional 5,641,160 shares during the period. Finally, AustralianSuper Pty Ltd purchased a new position in shares of Monster Beverage during the second quarter valued at approximately $157,063,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

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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