Monster Beverage Analysts Cut Their Forecasts Following Weak Q2 Results
Portfolio Pulse from Avi Kapoor
Monster Beverage Corporation (NASDAQ:MNST) reported weaker-than-expected Q2 results, missing both earnings and sales estimates. Analysts have subsequently lowered their price targets for the company. The stock fell 0.5% following the announcement.
August 08, 2024 | 12:55 pm
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Monster Beverage reported Q2 earnings of 41 cents per share, missing the consensus estimate of 47 cents. Sales also missed expectations at $1.90 billion versus $2.01 billion. Analysts have lowered their price targets, and the stock fell 0.5%.
The company's weaker-than-expected financial performance and subsequent analyst downgrades are likely to negatively impact the stock price in the short term. The reduction in price targets by analysts further supports this outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100