TD Cowen Lowers Monster Beverage (NASDAQ:MNST) Price Target to $80.00

Monster Beverage (NASDAQ:MNST) had its target price lowered by investment analysts at TD Cowen from $88.00 to $80.00 in a report released on Monday, MarketBeat.com reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price target indicates a potential upside of 3.82% from the company’s current price.

Several other research analysts have also recently weighed in on MNST. Zacks Research cut Monster Beverage from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Stifel Nicolaus lifted their price objective on Monster Beverage from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Bank of America lowered their price objective on Monster Beverage from $100.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Wells Fargo & Company cut their target price on Monster Beverage from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Finally, Royal Bank Of Canada set a $86.00 price target on Monster Beverage in a report on Thursday, April 9th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST traded up $0.34 during midday trading on Monday, hitting $77.06. The company’s stock had a trading volume of 233,027 shares, compared to its average volume of 5,879,537. The business’s 50 day simple moving average is $77.45 and its 200 day simple moving average is $75.24. The company has a market cap of $75.35 billion, a P/E ratio of 39.71, a price-to-earnings-growth ratio of 2.68 and a beta of 0.51. Monster Beverage has a 12-month low of $57.01 and a 12-month high of $87.38.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. Monster Beverage’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 EPS. On average, sell-side analysts predict that Monster Beverage will post 1.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC increased its stake in Monster Beverage by 136.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock worth $27,000 after acquiring an additional 205 shares during the last quarter. Physician Wealth Advisors Inc. raised its position in Monster Beverage by 508.1% in the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock valued at $25,000 after purchasing an additional 315 shares during the period. MV Capital Management Inc. acquired a new position in shares of Monster Beverage in the 4th quarter valued at $30,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Monster Beverage during the 3rd quarter worth $27,000. Finally, First Horizon Corp purchased a new position in shares of Monster Beverage during the 3rd quarter worth $29,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.