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 Piper Sandler from a "neutral" rating to an "overweight" rating in a research note issued on Wednesday, MarketBeat Ratings reports. The firm currently has a $39.00 price target on the stock. Piper Sandler's price objective suggests a potential upside of 6.18% from the stock's previous close.

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

Vita Coco Stock Up 2.0%

COCO traded up $0.71 during trading on Wednesday, hitting $36.73. 698,203 shares of the stock were exchanged, compared to its average volume of 807,466. The firm has a market capitalization of $2.09 billion, a P/E ratio of 34.33, a PEG ratio of 1.91 and a beta of 0.37. Vita Coco has a 1-year low of $24.09 and a 1-year high of $40.32. The stock has a fifty day moving average price of $35.92 and a two-hundred day moving average price of $34.68.

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

Insider Activity at Vita Coco

In related news, CMO Jane Prior sold 10,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $37.07, for a total value of $370,700.00. Following the completion of the transaction, the chief marketing officer owned 134,188 shares of the company's stock, valued at approximately $4,974,349.16. This represents a 6.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Es Charles Van sold 10,000 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $38.02, for a total value of $380,200.00. Following the completion of the transaction, the insider directly owned 94,127 shares of the company's stock, valued at $3,578,708.54. This represents a 9.60% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,800 shares of company stock valued at $1,384,226. Insiders own 32.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. MAI Capital Management bought a new position in Vita Coco during the 2nd quarter worth approximately $33,000. Coppell Advisory Solutions LLC lifted its holdings in Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after buying an additional 613 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company's stock worth $49,000 after buying an additional 1,344 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Vita Coco during the 2nd quarter worth approximately $50,000. Finally, CWM LLC lifted its holdings in Vita Coco by 14.7% during the 1st quarter. CWM LLC now owns 2,868 shares of the company's stock worth $88,000 after buying an additional 367 shares during the last quarter. Hedge funds and other institutional investors 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.