Piper Sandler Increases Monster Beverage (NASDAQ:MNST) Price Target to $59.00

Monster Beverage (NASDAQ:MNST) had its target price hoisted by Piper Sandler from $58.00 to $59.00 in a report released on Friday morning, MarketBeat reports. They currently have a neutral rating on the stock.

A number of other research analysts have also commented on the company. Redburn Atlantic began coverage on Monster Beverage in a report on Wednesday, March 6th. They issued a buy rating on the stock. Citigroup boosted their price objective on shares of Monster Beverage from $63.00 to $69.00 and gave the company a buy rating in a report on Wednesday, January 17th. BMO Capital Markets raised their target price on shares of Monster Beverage from $57.00 to $58.00 and gave the stock a market perform rating in a report on Wednesday, January 17th. Royal Bank of Canada boosted their price target on Monster Beverage from $60.00 to $65.00 and gave the company an outperform rating in a research note on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Monster Beverage from $64.00 to $63.00 and set a buy rating on the stock in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $61.32.

Monster Beverage Stock Performance

NASDAQ MNST opened at $54.22 on Friday. The stock has a market cap of $56.48 billion, a PE ratio of 34.10, a P/E/G ratio of 2.27 and a beta of 0.74. The firm has a 50-day moving average of $56.81 and a 200-day moving average of $55.89. Monster Beverage has a 52-week low of $47.13 and a 52-week high of $61.22.

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 the consensus estimate of $0.43 by ($0.01). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the business earned $0.38 earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. As a group, analysts predict that Monster Beverage will post 1.79 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Monster Beverage

Institutional investors have recently added to or reduced their stakes in the business. Peoples Bank KS bought a new stake in shares of Monster Beverage in the third quarter worth $26,000. ICA Group Wealth Management LLC acquired a new position in Monster Beverage during the 4th quarter worth about $27,000. Headinvest LLC acquired a new stake in shares of Monster Beverage in the third quarter valued at about $28,000. Tortoise Investment Management LLC increased its stake in shares of Monster Beverage by 360.0% in the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after buying an additional 396 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Monster Beverage during the third quarter worth about $31,000. 72.36% of the stock is owned by institutional investors.

Monster Beverage Company Profile

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.