Deutsche Bank Aktiengesellschaft Raises Monster Beverage (NASDAQ:MNST) Price Target to $77.00

Monster Beverage (NASDAQ:MNST) had its price target boosted by investment analysts at Deutsche Bank Aktiengesellschaft from $75.00 to $77.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 8.63% from the stock’s current price.

Several other analysts have also issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Monster Beverage from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Roth Capital restated a “neutral” rating and issued a $60.00 target price (up from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. JPMorgan Chase & Co. boosted their price objective on shares of Monster Beverage from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday. Wells Fargo & Company increased their price target on shares of Monster Beverage from $73.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Bank of America boosted their price objective on Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $69.41.

Monster Beverage Trading Up 6.9%

Shares of NASDAQ MNST traded up $4.58 during trading hours on Friday, reaching $70.89. The stock had a trading volume of 4,626,372 shares, compared to its average volume of 5,905,533. The business’s fifty day moving average price is $66.44 and its two-hundred day moving average price is $63.36. The firm has a market cap of $69.22 billion, a price-to-earnings ratio of 44.23, a P/E/G ratio of 2.31 and a beta of 0.53. Monster Beverage has a 52-week low of $45.70 and a 52-week high of $72.62.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, November 6th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.11 billion. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS. Equities research analysts anticipate that Monster Beverage will post 1.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mark Vidergauz sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the transaction, the director owned 51,191 shares of the company’s stock, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Monster Beverage

Institutional investors have recently modified their holdings of the company. Access Investment Management LLC bought a new stake in shares of Monster Beverage during the second quarter valued at approximately $25,000. Physician Wealth Advisors Inc. boosted its holdings in shares of 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 acquiring an additional 315 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in Monster Beverage during the third quarter worth approximately $27,000. Salomon & Ludwin LLC acquired a new stake in Monster Beverage in the second quarter worth approximately $28,000. Finally, Newbridge Financial Services Group Inc. increased its position in shares of Monster Beverage by 1,338.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after purchasing an additional 415 shares during the period. Institutional investors own 72.36% of the company’s stock.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.