Vita Coco (NASDAQ:COCO) Stock Rating Upgraded by Piper Sandler

Key Points

• Vita Coco's stock (NASDAQ:COCO) has been upgraded from a "neutral" rating to "overweight" by Piper Sandler, with a target price set at $39.00, suggesting a potential upside of 14.91%.
• The company recently reported earnings of $0.38 per share for the last quarter, surpassing analysts' expectations and demonstrating a 17.1% increase in quarterly revenue year-over-year.
• Vita Coco has an average rating of "Moderate Buy" from analysts and various firms have set price targets ranging from $38.00 to $45.00.

Vita Coco (NASDAQ:COCO - Get Free Report) was upgraded by equities researchers at Piper Sandler from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage presently has a $39.00 price objective on the stock. Piper Sandler's price objective would indicate a potential upside of 12.05% from the company's current price.

A number of other research analysts also recently weighed in on the stock. Morgan Stanley raised their target price on shares of Vita Coco from $35.00 to $38.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Evercore ISI raised their target price on shares of Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. The Goldman Sachs Group set a $41.00 target price on shares of Vita Coco and gave the company a "buy" rating in a research report on Wednesday, April 30th. Wells Fargo & Company raised their target price on shares of Vita Coco from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen downgraded shares of Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.38.

Vita Coco Price Performance

COCO traded down $1.9240 during mid-day trading on Wednesday, hitting $34.8060. The stock had a trading volume of 590,365 shares, compared to its average volume of 723,978. The stock's fifty day simple moving average is $35.92 and its 200-day simple moving average is $34.64. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 32.54, a price-to-earnings-growth ratio of 1.94 and a beta of 0.37. Vita Coco has a 1-year low of $24.09 and a 1-year high of $40.32.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The company had revenue of $168.76 million for the quarter, compared to analyst estimates of $162.20 million. During the same period last year, the business posted $0.32 earnings per share. The business's revenue for the quarter was up 17.1% compared to the same quarter last year. Vita Coco has set its FY 2025 guidance at EPS. As a group, research analysts expect that Vita Coco will post 1.07 earnings per share for the current fiscal year.

Insider Transactions at Vita Coco

In other news, CMO Jane Prior sold 10,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $37.07, for a total transaction of $370,700.00. Following the completion of the sale, the chief marketing officer owned 134,188 shares in the company, valued at approximately $4,974,349.16. This trade represents a 6.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Es Charles Van sold 10,000 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $38.02, for a total transaction of $380,200.00. Following the sale, the insider owned 94,127 shares of the company's stock, valued at approximately $3,578,708.54. This represents a 9.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,800 shares of company stock worth $1,384,226. 34.20% of the stock is owned by insiders.

Institutional Trading of Vita Coco

Several hedge funds and other institutional investors have recently bought and sold shares of COCO. Wells Fargo & Company MN raised its stake in Vita Coco by 6.2% in the 4th quarter. Wells Fargo & Company MN now owns 39,368 shares of the company's stock worth $1,453,000 after purchasing an additional 2,297 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Vita Coco in the 4th quarter worth about $458,000. Raymond James Financial Inc. acquired a new stake in Vita Coco in the 4th quarter worth about $7,985,000. Summit Investment Advisors Inc. raised its stake in Vita Coco by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock worth $152,000 after purchasing an additional 347 shares in the last quarter. Finally, Barclays PLC raised its stake in Vita Coco by 10.4% in the 4th quarter. Barclays PLC now owns 76,721 shares of the company's stock worth $2,832,000 after purchasing an additional 7,217 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company's stock.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.