Monster Beverage (NASDAQ:MNST) PT Raised to $59.00 at Piper Sandler

Monster Beverage (NASDAQ:MNST) had its price objective boosted by Piper Sandler from $58.00 to $59.00 in a report published on Friday, MarketBeat Ratings reports. The brokerage currently has a neutral rating on the stock.

Other analysts have also issued reports about the stock. The Goldman Sachs Group raised their price objective on shares of Monster Beverage from $62.00 to $68.00 and gave the stock a buy rating in a report on Wednesday, January 17th. Truist Financial cut shares of Monster Beverage from a buy rating to a sell rating and dropped their target price for the company from $65.00 to $46.00 in a report on Thursday, April 25th. Redburn Atlantic assumed coverage on shares of Monster Beverage in a research report on Wednesday, March 6th. They set a buy rating for the company. JPMorgan Chase & Co. cut shares of Monster Beverage from an overweight rating to a neutral rating and cut their price objective for the stock from $66.00 to $59.00 in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Monster Beverage from $64.00 to $63.00 and set a buy rating for the company in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $61.32.

Monster Beverage Stock Performance

Shares of MNST stock opened at $54.22 on Friday. Monster Beverage has a fifty-two week low of $47.13 and a fifty-two week high of $61.22. The firm has a market cap of $56.48 billion, a P/E ratio of 34.10, a P/E/G ratio of 2.27 and a beta of 0.74. The business’s 50 day moving average price is $56.81 and its 200-day moving average price is $55.89.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities analysts predict that Monster Beverage will post 1.79 EPS for the current year.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the completion of the sale, the director now directly owns 777,840 shares in the company, valued at approximately $45,542,532. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 9.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Monster Beverage

Several institutional investors have recently made changes to their positions in MNST. ICA Group Wealth Management LLC bought a new position in Monster Beverage in the fourth quarter worth approximately $27,000. Peoples Bank KS purchased a new stake in shares of Monster Beverage in the 3rd quarter worth $26,000. Tortoise Investment Management LLC raised its holdings in Monster Beverage by 360.0% in the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after purchasing an additional 396 shares during the period. Headinvest LLC purchased a new position in Monster Beverage during the third quarter valued at $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in Monster Beverage during the third quarter valued at about $31,000. Institutional investors own 72.36% of the company’s stock.

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.