Monster Beverage Corp PT Raised to $94.00 (MNST)
Stifel Nicolaus lifted their target price on shares of Monster Beverage Corp (NASDAQ:MNST) from $75.00 to $94.00 in a research note issued on Friday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 32.12% from the company’s current price.
Shares of Monster Beverage Corp (NASDAQ:MNST) opened at 71.65 on Friday. Monster Beverage Corp has a one year low of $51.15 and a one year high of $75.63. The stock’s 50-day moving average is $67.97 and its 200-day moving average is $69.01. The company has a market cap of $11.978 billion and a P/E ratio of 30.54.
Monster Beverage Corp (NASDAQ:MNST) last announced its earnings results on Thursday, August 7th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. The company had revenue of $687.20 million for the quarter, compared to the consensus estimate of $694.22 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts expect that Monster Beverage Corp will post $2.58 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Credit Agricole upgraded shares of Monster Beverage Corp from an “underperform” rating to an “outperform” rating in a research note on Friday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Monster Beverage Corp in a research note on Wednesday. They now have a $74.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Monster Beverage Corp from $74.00 to $80.00 in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Monster Beverage Corp presently has a consensus rating of “Buy” and an average target price of $80.38.
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.
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