Fintel reports that on August 7, 2023, Piper Sandler upgraded their outlook for Monster Beverage (NASDAQ:MNST) from Neutral to Overweight.

Analyst Price Forecast Suggests 14.48% Upside

As of August 2, 2023, the average one-year price target for Monster Beverage is 63.09. The forecasts range from a low of 52.02 to a high of $70.35. The average price target represents an increase of 14.48% from its latest reported closing price of 55.11.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Monster Beverage is 7,256MM, an increase of 8.44%. The projected annual non-GAAP EPS is 3.06.

What is the Fund Sentiment?

There are 1696 funds or institutions reporting positions in Monster Beverage. This is an increase of 50 owner(s) or 3.04% in the last quarter. Average portfolio weight of all funds dedicated to MNST is 0.37%, a decrease of 22.73%. Total shares owned by institutions increased in the last three months by 89.30% to 822,174K shares. The put/call ratio of MNST is 0.88, indicating a bullish outlook.

What are Other Shareholders Doing?

Alliancebernstein holds 37,875K shares representing 3.62% ownership of the company. In it’s prior filing, the firm reported owning 19,382K shares, representing an increase of 48.83%. The firm decreased its portfolio allocation in MNST by 16.24% over the last quarter.

Loomis Sayles & Co L P holds 27,960K shares representing 2.67% ownership of the company. In it’s prior filing, the firm reported owning 14,329K shares, representing an increase of 48.75%. The firm increased its portfolio allocation in MNST by 89,851.15% over the last quarter.

Jpmorgan Chase holds 23,831K shares representing 2.28% ownership of the company. In it’s prior filing, the firm reported owning 11,303K shares, representing an increase of 52.57%. The firm increased its portfolio allocation in MNST by 3.64% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 22,599K shares representing 2.16% ownership of the company. In it’s prior filing, the firm reported owning 11,096K shares, representing an increase of 50.90%. The firm increased its portfolio allocation in MNST by 0.04% over the last quarter.

Capital World Investors holds 22,441K shares representing 2.14% ownership of the company. In it’s prior filing, the firm reported owning 11,246K shares, representing an increase of 49.89%. The firm increased its portfolio allocation in MNST by 2.93% over the last quarter.

Monster Beverage Background Information
(This description is provided by the company.)

Based in Corona, California, Monster Beverage Corporation is a holding company and conducts no operating business except through its consolidated subsidiaries. The Company’s subsidiaries develop and market energy drinks, including Monster Energy® energy drinks, Monster Energy Ultra® energy drinks, Monster MAXX® maximum strength energy drinks, Java Monster® non-carbonated coffee + energy drinks, Espresso Monster® non-carbonated espresso + energy drinks, Monster Rehab® non-carbonated tea + energy drinks, Muscle Monster® non-carbonated energy shakes, Monster Hydro® non-carbonated refreshment + energy drinks, Monster HydroSport Super Fuel® non-carbonated advanced hydration + energy drinks, Monster Dragon Tea® non-carbonated energy teas, Reign Total Body Fuel® high performance energy drinks, Reign Inferno® thermogenic fuel high performance energy drinks, NOS® energy drinks, Full Throttle® energy drinks, Burn® energy drinks, Samurai® energy drinks, Relentless® energy drinks, Mother® energy drinks, Play® and Power Play® (stylized) energy drinks, BU® energy drinks, Nalu® energy drinks, BPM® energy drinks, Gladiator® energy drinks, Ultra Energy® energy drinks, Live+® energy drinks, Predator® energy drinks and Fury® energy drinks.

This article originally appeared on Fintel

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