Monster Beverage Corp. Given a $79.00 Price Target by Goldman Sachs Group Inc. Analysts (MNST)
Goldman Sachs Group Inc. set a $79.00 target price on shares of Monster Beverage Corp. (NASDAQ:MNST) stock in a research note issued on Friday, AnalystRatingsNetwork reports. Goldman Sachs Group Inc.’s price objective would indicate a potential upside of 18.30% from the company’s current price.
A number of other analysts have also recently weighed in on MNST. Analysts at RBC Capital upgraded shares of Monster Beverage Corp. from an “outperform” rating to a “top pick” rating in a research note to investors on Monday, December 16th. They now have a $77.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. upgraded shares of Monster Beverage Corp. from a “neutral” rating to an “overweight” rating in a research note to investors on Monday, December 2nd. They now have a $74.00 price target on the stock, up previously from $70.00. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Monster Beverage Corp. currently has a consensus rating of “Buy” and an average target price of $67.76.
Shares of Monster Beverage Corp. (NASDAQ:MNST) opened at 66.78 on Friday. Monster Beverage Corp. has a 1-year low of $45.38 and a 1-year high of $68.33. The stock has a 50-day moving average of $62.20 and a 200-day moving average of $59.06. The company has a market cap of $11.197 billion and a price-to-earnings ratio of 35.24.
Monster Beverage Corp. (NASDAQ:MNST) last announced its earnings results on Thursday, November 7th. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.57 by $0.04. The company had revenue of $590.40 million for the quarter, compared to the consensus estimate of $602.34 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis.
Monster Beverage Corporation, formerly Hansen Natural Corporation is a holding company. The Company develops, markets, sells and distributes alternative beverage.
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