#4 - Monster Beverage (NASDAQ:MNST)
Not even a stock like Monster Beverage Corporation (NASDAQ: MNST) was immune to the stock market blues lost year. True, MNST stock was up approximately 15% for the year. But much of that came in the "everything rally" that started in mid-October.
But, the energy drink category is expected to have an annual growth rate of 8% through 2030. Monster continues to dominate the category not only through innovation but also due to its exclusive partnership with The Coca-Cola Company (NYSE: KO), which gives the company access to its distribution network.
Monster is projecting earnings growth of 15% in 2024. As of January 8, 2024, the Monster Beverage analyst ratings on MarketBeat give MNST stock a Moderate Buy rating with a price target of $60.77. Analysts may be placing more emphasis on a lofty 38x forward price-to-earnings (P/E) ratio than on its price-to-sales (P/S) ratio of around 9x.
Monster has been one of the best-performing stocks since it went public in the early 2000s. In fact, the stock has split five times in the last 20 years. The most recent was a 3-for-1 split in 2016.
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.
Read More - Current Price
- $52.35
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 13 Buy Ratings, 6 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $55.85 (6.7% Upside)
