Monster Beverage (NASDAQ:MNST) Stock Passes Above 200 Day Moving Average – What’s Next?

Monster Beverage Corporation (NASDAQ:MNST) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $43.31 and traded as high as $45.04. Monster Beverage shares last traded at $44.57, with a volume of 8,017,948 shares changing hands.

Analysts Set New Price Targets

MNST has been the subject of several analyst reports. BMO Capital Markets restated a “market perform” rating and issued a $47.50 target price (up from $36.50) on shares of Monster Beverage in a report on Monday, July 20th. Citigroup reiterated a “buy” rating on shares of Monster Beverage in a research note on Wednesday, August 12th. Royal Bank Of Canada reissued an “outperform” rating and issued a $48.50 price objective (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. Evercore boosted their target price on shares of Monster Beverage from $47.50 to $52.50 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Finally, Piper Sandler increased their price target on shares of Monster Beverage from $47.00 to $50.50 and gave the company an “overweight” rating in a report on Friday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.33.

Monster Beverage Price Performance

The company has a 50 day moving average price of $46.57 and a two-hundred day moving average price of $43.32. The stock has a market cap of $88.28 billion, a PE ratio of 41.71, a PEG ratio of 2.91 and a beta of 0.52.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%.The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm earned $0.26 EPS. Monster Beverage’s revenue was up 20.2% on a year-over-year basis. As a group, equities analysts predict that Monster Beverage Corporation will post 1.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Monster Beverage

A number of large investors have recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. bought a new stake in shares of Monster Beverage in the 2nd quarter valued at approximately $27,000. Jones Financial Companies Lllp purchased a new stake in Monster Beverage during the 2nd quarter valued at $28,000. MV Capital Management Inc. purchased a new stake in Monster Beverage during the 4th quarter valued at $30,000. Trust Co. of Vermont bought a new stake in Monster Beverage in the second quarter worth $30,000. Finally, Clearstead Trust LLC purchased a new position in Monster Beverage during the second quarter worth $32,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Company Profile

Monster Beverage Corporation is a beverage company headquartered in Corona, California. It develops, markets and distributes energy drinks and other alternative beverages through a portfolio of brands that includes Monster Energy, Reign, NOS, Full Throttle, Burn and Bang Energy.

The company offers energy drinks in a variety of flavors and formulations, including products positioned for performance, fitness and everyday use. Monster also participates in the alcoholic beverage category through products marketed under the Monster Brewing Company name, including flavored malt beverages and beers.

Monster Beverage traces its roots to Hansen’s, a juice and natural beverage business founded in the 1930s.