Goldman Sachs Reaffirms Buy Rating for Monster Beverage Corp (MNST)
Monster Beverage Corp (NASDAQ:MNST)‘s stock had its “buy” rating reissued by Goldman Sachs in a research note issued on Tuesday. They currently have a $125.00 price target on the stock, up from their previous price target of $87.00. Goldman Sachs’ target price indicates a potential upside of 41.34% from the stock’s previous close.
Monster Beverage Corp (NASDAQ:MNST) traded up 0.69% during mid-day trading on Tuesday, hitting $89.05. The stock had a trading volume of 671,654 shares. Monster Beverage Corp has a 52-week low of $51.15 and a 52-week high of $94.93. The stock has a 50-day moving average of $69.20 and a 200-day moving average of $69.35. The company has a market cap of $14.887 billion and a price-to-earnings ratio of 37.96. Monster Beverage Corp also was the recipient of unusually large options trading activity on Monday. Stock investors bought 3,428 put options on the stock. This is an increase of 142% compared to the average volume of 1,417 put options.
Monster Beverage Corp (NASDAQ:MNST) last released its earnings data 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at SunTrust downgraded shares of Monster Beverage Corp from a “buy” rating to a “neutral” rating in a research note on Tuesday. They now have a $90.00 price target on the stock, up previously from $80.00. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Monster Beverage Corp in a research note on Monday. Finally, analysts at S&P Equity Research reiterated a “buy” rating on shares of Monster Beverage Corp in a research note on Monday. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Monster Beverage Corp presently has a consensus rating of “Buy” and a consensus price target of $89.58.
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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