Research analysts at Stifel Nicolaus reduced their price target on shares of Monster Beverage Corp (NASDAQ:MNST) from $80.00 to $78.00 in a report released on Friday, Analyst Ratings.Net reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 11.27% from the stock’s previous close.
Monster Beverage Corp (NASDAQ:MNST) traded up 0.83% on Friday, hitting $70.68. 750,749 shares of the company’s stock traded hands. Monster Beverage Corp has a 52 week low of $51.15 and a 52 week high of $75.63. The stock has a 50-day moving average of $67.04 and a 200-day moving average of $66.11. The company has a market cap of $11.809 billion and a P/E ratio of 32.93.
Monster Beverage Corp (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.49 by $0.06. The company had revenue of $536.10 million for the quarter, compared to the consensus estimate of $542.30 million. During the same quarter last year, the company posted $0.37 earnings per share. Monster Beverage Corp’s revenue was up 10.7% compared to the same quarter last year. On average, analysts predict that Monster Beverage Corp will post $2.52 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on MNST. Analysts at Zacks reiterated a “neutral” rating on shares of Monster Beverage Corp in a research note on Friday, April 11th. They now have a $67.00 price target on the stock. Finally, analysts at UBS AG initiated coverage on shares of Monster Beverage Corp in a research note on Monday, March 3rd. They set a “buy” rating and a $85.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Monster Beverage Corp presently has a consensus rating of “Buy” and a consensus price target of $72.36.
Monster Beverage Corporation is a holding company. The Company develops, markets, sells and distributes alternative beverage, such as non-carbonated ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks, and single-serve still water (NASDAQ:MNST) with beverages, including sodas that are considered natural, sparkling juices and flavored sparkling beverages.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.