JPMorgan Chase & Co. Issues Pessimistic Forecast for Monster Beverage (NASDAQ:MNST) Stock Price

Monster Beverage (NASDAQ:MNST) had its price objective lowered by JPMorgan Chase & Co. from $50.00 to $49.00 in a report published on Monday, Marketbeat Ratings reports. The brokerage currently has a neutral rating on the stock.

MNST has been the topic of several other research reports. Royal Bank of Canada cut their price objective on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Piper Sandler cut their price objective on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Truist Financial cut their price objective on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. Finally, Wells Fargo & Company cut their price objective on shares of Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Monster Beverage currently has a consensus rating of “Moderate Buy” and an average price target of $55.79.

Monster Beverage Price Performance

NASDAQ MNST opened at $54.73 on Monday. The company has a 50 day simple moving average of $51.40 and a 200-day simple moving average of $51.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. The firm has a market capitalization of $53.61 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74. Monster Beverage has a 52-week low of $43.32 and a 52-week high of $61.22.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. Monster Beverage’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.39 earnings per share. Equities research analysts predict that Monster Beverage will post 1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Monster Beverage

Several hedge funds and other institutional investors have recently modified their holdings of MNST. LRI Investments LLC acquired a new stake in shares of Monster Beverage in the first quarter worth $26,000. Stephens Consulting LLC acquired a new stake in shares of Monster Beverage in the second quarter worth $26,000. Kings Path Partners LLC acquired a new stake in shares of Monster Beverage in the second quarter worth $30,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Monster Beverage during the second quarter worth $30,000. Finally, Crewe Advisors LLC acquired a new stake in Monster Beverage during the first quarter worth $37,000. Institutional investors and hedge funds 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.