Zevia PBC (NYSE:ZVIA) Price Target Raised to $2.70

Key Points

• Morgan Stanley has raised its price target for Zevia PBC from $2.50 to $2.70, while maintaining an "equal weight" rating on the stock, indicating a potential downside of 13.32% from the previous close.
• Telsey Advisory Group upgraded Zevia PBC from "market perform" to "outperform" and raised their target price from $3.00 to $5.00.
• Zevia PBC reported an earnings per share (EPS) of ($0.01), exceeding analysts' expectations of ($0.05), along with a revenue of $44.52 million for the quarter.

Zevia PBC (NYSE:ZVIA - Get Free Report) had its target price increased by Morgan Stanley from $2.50 to $2.70 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price objective would suggest a potential downside of 13.32% from the stock's previous close.

A number of other research analysts also recently issued reports on ZVIA. Telsey Advisory Group upgraded shares of Zevia PBC from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $3.00 to $5.00 in a research report on Monday, August 4th. BMO Capital Markets boosted their target price on shares of Zevia PBC from $5.00 to $6.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th.

Zevia PBC Price Performance

NYSE:ZVIA opened at $3.12 on Tuesday. The firm's 50 day simple moving average is $3.08 and its 200 day simple moving average is $2.82. Zevia PBC has a one year low of $0.81 and a one year high of $4.99. The company has a market cap of $231.20 million, a PE ratio of -14.16 and a beta of 0.90.

Zevia PBC (NYSE:ZVIA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.04. The firm had revenue of $44.52 million for the quarter, compared to the consensus estimate of $41.63 million. Zevia PBC had a negative net margin of 8.97% and a negative return on equity of 27.86%. Equities research analysts expect that Zevia PBC will post -0.32 EPS for the current year.

Institutional Trading of Zevia PBC

A number of hedge funds and other institutional investors have recently bought and sold shares of ZVIA. Jane Street Group LLC grew its stake in shares of Zevia PBC by 481.7% in the 4th quarter. Jane Street Group LLC now owns 126,745 shares of the company's stock worth $531,000 after acquiring an additional 104,955 shares in the last quarter. Stifel Financial Corp bought a new stake in shares of Zevia PBC in the 4th quarter worth $42,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Zevia PBC in the 4th quarter worth $371,000. Squarepoint Ops LLC bought a new stake in shares of Zevia PBC in the 4th quarter worth $139,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Zevia PBC in the 4th quarter worth $596,000. Institutional investors own 53.21% of the company's stock.

Zevia PBC Company Profile

Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated beverages in the United States and Canada. It offers soda, energy drinks, organic tea, and kidz drinks. The company offers its products through a network of food, drug, warehouse club, mass, natural, convenience, and e-commerce channels, as well as grocery distributors and natural product stores and specialty outlets.

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