Wells Fargo & Company Issues Positive Forecast for Monster Beverage (NASDAQ:MNST) Stock Price

Monster Beverage (NASDAQ:MNST) had its target price hoisted by Wells Fargo & Company from $85.00 to $87.00 in a report issued on Friday morning, Marketbeat.com reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities analysts have also weighed in on MNST. Piper Sandler lifted their price objective on shares of Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Rothschild & Co Redburn upgraded shares of Monster Beverage from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $76.00 to $90.00 in a research report on Wednesday. TD Cowen reduced their target price on shares of Monster Beverage from $88.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, April 20th. Jefferies Financial Group set a $100.00 target price on shares of Monster Beverage in a report on Wednesday, March 11th. Finally, Argus boosted their price target on shares of Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Fifteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Monster Beverage Stock Up 13.5%

MNST opened at $86.25 on Friday. The business has a 50 day moving average price of $76.12 and a two-hundred day moving average price of $75.94. The company has a market cap of $84.34 billion, a PE ratio of 41.67, a P/E/G ratio of 2.71 and a beta of 0.50. Monster Beverage has a 52 week low of $58.09 and a 52 week high of $88.77.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, May 7th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.16 billion. Monster Beverage had a return on equity of 27.73% and a net margin of 23.11%.The company’s revenue was up 22.6% on a year-over-year basis. During the same period last year, the business posted $0.47 EPS. As a group, sell-side analysts expect that Monster Beverage will post 2.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Monster Beverage

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Physician Wealth Advisors Inc. boosted its position in shares of Monster Beverage by 508.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock worth $25,000 after purchasing an additional 315 shares in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Monster Beverage in the 3rd quarter valued at about $27,000. Harbor Investment Advisory LLC lifted its stake in shares of Monster Beverage by 136.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock valued at $27,000 after purchasing an additional 205 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in shares of Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after purchasing an additional 415 shares during the period. Finally, First Horizon Corp purchased a new stake in Monster Beverage during the third quarter worth about $29,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Key Headlines Impacting Monster Beverage

Here are the key news stories impacting Monster Beverage this week:

• Positive Sentiment: Monster Beverage reported first-quarter EPS of $0.58, beating the $0.53 consensus estimate, on revenue of $2.32 billion versus expectations of $2.16 billion. Sales rose 22.6% year over year, supporting the stock’s move higher. Monster Beverage earnings report
• Positive Sentiment: Royal Bank of Canada raised its price target to $88 from $86 and kept an outperform rating, signaling continued confidence in Monster Beverage’s outlook.
• Positive Sentiment: Deutsche Bank lifted its target to $94 from $88 and reiterated a buy rating, implying additional upside if growth remains strong.
• Positive Sentiment: Wells Fargo increased its target to $87 from $85 and maintained an overweight rating, while Evercore raised its target to $95 from $90 and kept an outperform rating.
• Neutral Sentiment: Management highlighted particularly strong international demand, with overseas sales up sharply and now making up a larger share of total revenue. This supports the growth story, but investors may still watch whether that momentum persists.

Monster Beverage Company Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.