In a report released yesterday, Kevin Grundy from Jefferies maintained a Buy rating on Monster Beverage Corp (NASDAQ: MNST), with a price target of $62. The company’s shares closed yesterday at $53.08.
According to TipRanks.com, Grundy is a 4-star analyst with an average return of 7.2% and a 59.3% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners, Edgewell Personal Care, and Colgate-Palmolive.
Currently, the analyst consensus on Monster Beverage Corp is Moderate Buy and the average price target is $65.50, representing a 23.4% upside.
In a report issued on April 25, Stifel Nicolaus also maintained a Buy rating on the stock with a $71 price target.
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Based on Monster Beverage Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $201 million. In comparison, last year the company had a net profit of $178 million.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock.
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Monster Beverage Corp. is a holding company which engages in the development, marketing, sale, and distribution of energy drink beverages and concentrates. It operates through the following segments: Finished Products, Concentrate, and Other. The Finished Products segment consists of the Monster Energy drink products.
