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MNST · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Monster Beverage Corporation (MNST) stock moving?
Monster reported Q3 2026 net sales up 16.7% to $2.56B, ahead of the $2.495B consensus, with 47% of sales now coming from outside the U.S. Adjusted EPS of $0.30 was only in line, so the beat was on the top line. Shares closed at $47.83 on Nov 5 on 17.4M volume, then gapped down to open at $44.04 on Nov 6 and closed at $45.72 on 15.7M volume. The stock has since drifted to $45.34 on Nov 10, around 5% below the pre-report close, and the Nov 6 low of $43.93 is the nearest floor in the 30-day data, with the Nov 5 high of $49.50 as the recent ceiling. Analysts moved targets higher after the report: Piper Sandler to $53 (Overweight), Wells Fargo to $52 (Overweight), Bernstein to $51 (Market Perform) and UBS to $50 (Neutral), which implies upside of roughly 10% to 17% from the current price. Offsetting risks include an Indian regulator's allegation of deceptive marketing and a study linking energy drinks to cardiac arrest risk in young adults. Volume has eased from the earnings spike, and the price has not yet recovered the post-earnings gap.
News behind the analysis
- Analysts Update Ratings and Price Targets for Monster BeverageSeveral analysts updated their ratings and price targets for Monster Beverage on November 10, 2026.
- Bernstein Maintains Monster Beverage at Market Perform, Raises Price TargetBernstein kept its Market Perform rating and raised its price target from $50 to $51.
- UBS Adjusts Monster Beverage Price Target to $50UBS raised its price target to $50 from $49 and kept a Neutral rating.
- Piper Sandler Maintains Overweight on Monster Beverage, Raises Price Target to $53Piper Sandler kept its Overweight rating and lifted its price target to $53 after the third-quarter report.
- Wells Fargo Maintains Overweight on Monster Beverage, Raises Price Target to $52Wells Fargo kept its Overweight rating and raised its price target to $52.
- Monster Beverage Corporation Reports Third Quarter 2026 Financial ResultsNet sales rose 16.7% to $2.56 billion in the third quarter, and non-GAAP EPS was $0.30 per diluted share.
- Monster Beverage Q3 Adj. EPS $0.30, Inline, Sales $2.563B Beat $2.495B EstimateSales beat consensus at $2.563B versus $2.495B expected, while adjusted EPS of $0.30 was in line with estimates.
- Indian Regulator Alleges Deceptive Marketing by Monster BeverageIndian food safety authorities reportedly alleged in a court filing that Monster and PepsiCo marketed high-caffeine products as energy drinks to mislead consumers.
- RBC Capital Markets Maintains Outperform Rating on Monster Beverage Ahead of Q3 ResultsRBC was positive ahead of the report, citing strong channel sales and category growth.
About Monster Beverage Corporation
Monster Beverage, based in Corona, California, makes and markets energy drinks, led by its Monster Energy brand, and also sells Reign, Bang, NOS, Full Throttle and some alcoholic drinks. It is unusual because it outsources most bottling and leans on Coca-Cola's worldwide bottler network (Coca-Cola owns a large stake in the company). That keeps its business light on capital, with gross margins around 55%.
How it makes money
Monster earns money by selling finished drinks and concentrates to bottlers and distributors, many of them Coca-Cola bottlers, who then sell to retailers. Its Monster Energy Drinks segment brings in the large majority of sales. The rest comes from the Strategic Brands segment (concentrates for brands it bought from Coca-Cola) and a small alcohol segment. About 40% of sales come from outside the US, and that share is growing. Net sales over the last 12 months were roughly $9.2 billion.
What usually moves MNST
- Growth of the US energy-drink category and Monster's market share
- Growth in international sales, which earn lower margins
- Aluminum can, freight and other input costs
- Price increases and competition from Celsius and Red Bull
- Quarterly sales and margin results compared with expectations