Morgan Stanley Issues Positive Forecast for Zevia PBC (NYSE:ZVIA) Stock Price

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 price objective boosted by equities researchers at Morgan Stanley from $2.50 to $2.70 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price target would suggest a potential downside of 7.85% from the company's current price.

Several other research firms have also weighed in on ZVIA. Telsey Advisory Group raised Zevia PBC from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $3.00 to $5.00 in a research note on Monday, August 4th. BMO Capital Markets lifted their price objective on Zevia PBC from $5.00 to $6.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th.

Zevia PBC Stock Down 2.7%

Shares of NYSE ZVIA traded down $0.08 during midday trading on Tuesday, hitting $2.93. The stock had a trading volume of 493,767 shares, compared to its average volume of 705,243. The company has a market capitalization of $217.46 million, a price-to-earnings ratio of -13.32 and a beta of 0.90. Zevia PBC has a 1-year low of $0.90 and a 1-year high of $4.99. The company has a fifty day moving average price of $3.11 and a 200 day moving average price of $2.80.

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

Hedge Funds Weigh In On Zevia PBC

Several hedge funds and other institutional investors have recently bought and sold shares of ZVIA. Moore Capital Management LP acquired a new position in shares of Zevia PBC in the 2nd quarter valued at approximately $483,000. Gilder Gagnon Howe & Co. LLC raised its position in shares of Zevia PBC by 47.2% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 156,135 shares of the company's stock valued at $503,000 after purchasing an additional 50,041 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Zevia PBC in the 2nd quarter valued at approximately $58,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Zevia PBC in the 2nd quarter valued at approximately $56,000. Finally, Divisadero Street Capital Management LP acquired a new position in shares of Zevia PBC in the 2nd quarter valued at approximately $10,404,000. 53.21% of the stock is owned by institutional investors and hedge funds.

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.