Wells Fargo & Company Forecasts Strong Price Appreciation for Monster Beverage (NASDAQ:MNST) Stock

Monster Beverage (NASDAQ:MNST) had its target price hoisted by investment analysts at Wells Fargo & Company from $57.00 to $60.00 in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 10.21% from the stock’s current price.

Several other analysts have also weighed in on MNST. Jefferies Financial Group reduced their price objective on Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada reduced their price target on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Bank of America increased their price objective on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets decreased their target price on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Finally, Truist Financial dropped their price target on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.79.

Monster Beverage Price Performance

MNST stock opened at $54.44 on Tuesday. The company’s 50-day moving average price is $51.40 and its two-hundred day moving average price is $51.00. Monster Beverage has a 12 month low of $43.32 and a 12 month high of $61.22. The company has a quick ratio of 2.69, a current ratio of 3.41 and a debt-to-equity ratio of 0.13. The firm has a market cap of $53.33 billion, a P/E ratio of 33.81, a P/E/G ratio of 2.47 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04). Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts anticipate that Monster Beverage will post 1.66 earnings per share for the current fiscal year.

Institutional Trading of Monster Beverage

A number of large investors have recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. boosted its position in shares of Monster Beverage by 9.9% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,097 shares of the company’s stock valued at $124,000 after purchasing an additional 189 shares in the last quarter. Journey Advisory Group LLC grew its position in shares of Monster Beverage by 4.1% during the 2nd quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock worth $248,000 after buying an additional 196 shares during the period. Dorsey & Whitney Trust CO LLC grew its position in shares of Monster Beverage by 5.1% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company’s stock worth $256,000 after buying an additional 209 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Monster Beverage by 0.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock valued at $2,434,000 after acquiring an additional 211 shares in the last quarter. Finally, Crewe Advisors LLC boosted its stake in Monster Beverage by 37.5% during the second quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock worth $42,000 after acquiring an additional 232 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

About Monster Beverage

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.