Piper Sandler Initiates Coverage of Monster Beverage (MNST) with Neutral Recommendation
Fintel reports that on June 8, 2023, Piper Sandler initiated coverage of Monster Beverage (NASDAQ:MNST) with a Neutral recommendation.
Analyst Price Forecast Suggests 9.51% Upside
As of June 1, 2023, the average one-year price target for Monster Beverage is 62.31. The forecasts range from a low of 52.02 to a high of $70.35. The average price target represents an increase of 9.51% from its latest reported closing price of 56.90.
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The projected annual revenue for Monster Beverage is 7,256MM, an increase of 11.78%. The projected annual non-GAAP EPS is 3.06.
What is the Fund Sentiment?
There are 1678 funds or institutions reporting positions in Monster Beverage. This is an increase of 31 owner(s) or 1.88% in the last quarter. Average portfolio weight of all funds dedicated to MNST is 0.36%, a decrease of 9.81%. Total shares owned by institutions increased in the last three months by 91.01% to 790,047K shares. The put/call ratio of MNST is 1.08, indicating a bearish outlook.