Piper Sandler Issues Positive Forecast for Vita Coco (NASDAQ:COCO) Stock Price

Vita Coco (NASDAQ:COCOGet Free Report) had its price target lifted by research analysts at Piper Sandler from $74.00 to $89.00 in a report issued on Friday. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 28.30% from the company’s current price.

Several other equities analysts also recently commented on the company. The Goldman Sachs Group set a $90.00 price target on Vita Coco and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company boosted their price objective on shares of Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Wall Street Zen upgraded shares of Vita Coco from a “sell” rating to a “buy” rating in a research note on Saturday, May 2nd. Zacks Research downgraded shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, Jefferies Financial Group boosted their target price on shares of Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.29.

View Our Latest Research Report on COCO

Vita Coco Stock Performance

Shares of NASDAQ COCO opened at $69.37 on Friday. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of 50.64, a PEG ratio of 1.78 and a beta of 0.77. The business has a 50 day simple moving average of $75.57 and a 200 day simple moving average of $62.33. Vita Coco has a 52 week low of $31.79 and a 52 week high of $85.83.

Vita Coco (NASDAQ:COCOGet Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.26. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The company had revenue of $216.15 million during the quarter, compared to the consensus estimate of $210.64 million. During the same quarter in the prior year, the company posted $0.38 EPS. The firm’s revenue was up 28.1% on a year-over-year basis. On average, analysts predict that Vita Coco will post 1.77 EPS for the current year.

Insider Activity at Vita Coco

In related news, COO Jonathan Burth sold 40,000 shares of the business’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $63.75, for a total transaction of $2,550,000.00. Following the transaction, the chief operating officer directly owned 57,910 shares in the company, valued at $3,691,762.50. The trade was a 40.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 96,158 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $79.14, for a total value of $7,609,944.12. Following the completion of the sale, the director owned 476,421 shares of the company’s stock, valued at $37,703,957.94. This represents a 16.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 571,950 shares of company stock valued at $42,461,695 in the last 90 days. 12.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vita Coco

Several institutional investors and hedge funds have recently bought and sold shares of COCO. Vanguard Group Inc. lifted its holdings in shares of Vita Coco by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock valued at $166,959,000 after acquiring an additional 237,510 shares during the period. Wasatch Advisors LP boosted its position in Vita Coco by 80.3% in the first quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock valued at $176,093,000 after buying an additional 1,637,437 shares in the last quarter. King Luther Capital Management Corp grew its stake in Vita Coco by 35.6% during the fourth quarter. King Luther Capital Management Corp now owns 136,987 shares of the company’s stock worth $7,262,000 after buying an additional 35,937 shares during the last quarter. Pier Capital LLC acquired a new stake in shares of Vita Coco during the fourth quarter worth approximately $7,318,000. Finally, Moran Wealth Management LLC increased its holdings in shares of Vita Coco by 219.0% during the first quarter. Moran Wealth Management LLC now owns 72,167 shares of the company’s stock worth $3,458,000 after buying an additional 49,546 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Vita Coco News Summary

Here are the key news stories impacting Vita Coco this week:

Vita Coco Company Profile

(Get Free Report)

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.

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Analyst Recommendations for Vita Coco (NASDAQ:COCO)

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