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Monster Beverage Corp (NASDAQ:MNST) shares saw unusually-strong trading volume on Friday after Stifel Nicolaus raised their price target on the stock from $75.00 to $94.00, American Banking News reports. Stifel Nicolaus currently has a buy rating on the stock. Approximately 15,438,714 shares were traded during mid-day trading, an increase of 547% from the previous session’s volume of 2,385,610 shares.The stock last traded at $91.50 and had previously closed at $71.65.

A number of other firms have also recently commented on MNST. 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 analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Monster Beverage Corp presently has an average rating of “Buy” and an average price target of $80.38.

The stock has a 50-day moving average of $67.97 and a 200-day moving average of $69.01. The company has a market cap of $15.313 billion and a P/E ratio of 30.75.

Monster Beverage Corp (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, analysts predict that Monster Beverage Corp will post $2.58 earnings per share for the current fiscal year.

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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