Celsius (NASDAQ:CELH) Price Target Cut to $80.00

Celsius (NASDAQ:CELH) had its target price lowered by B. Riley from $110.00 to $80.00 in a research note published on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock. B. Riley also issued estimates for Celsius’ Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.28 EPS, Q4 2024 earnings at $0.17 EPS, FY2024 earnings at $0.94 EPS, FY2025 earnings at $1.14 EPS and FY2026 earnings at $1.50 EPS.

Several other brokerages have also weighed in on CELH. BNP Paribas assumed coverage on shares of Celsius in a report on Monday, June 24th. They set an outperform rating and a $87.00 price objective on the stock. Wedbush cut their price target on shares of Celsius from $85.00 to $83.00 and set an outperform rating on the stock in a report on Wednesday, June 12th. Roth Mkm cut their price target on shares of Celsius from $87.00 to $75.00 and set a buy rating on the stock in a report on Thursday, July 18th. Stifel Nicolaus restated a buy rating and issued a $65.00 price target on shares of Celsius in a report on Tuesday, July 9th. Finally, Bank of America cut their price target on shares of Celsius from $84.00 to $60.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $76.51.

Celsius Price Performance

Celsius stock opened at $46.40 on Monday. Celsius has a 12-month low of $44.70 and a 12-month high of $99.62. The stock has a market capitalization of $10.81 billion, a P/E ratio of 50.98, a P/E/G ratio of 1.46 and a beta of 1.90. The firm’s 50-day moving average is $65.59 and its two-hundred day moving average is $70.14.

Celsius (NASDAQ:CELH) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.07. The business had revenue of $355.70 million for the quarter, compared to analyst estimates of $390.37 million. Celsius had a net margin of 18.63% and a return on equity of 111.29%. The company’s revenue was up 36.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 EPS. As a group, analysts forecast that Celsius will post 1.05 EPS for the current year.

Insider Transactions at Celsius

In other news, major shareholder William H. Milmoe sold 428,568 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $59.67, for a total transaction of $25,572,652.56. Following the completion of the sale, the insider now owns 25,035,885 shares of the company’s stock, valued at $1,493,891,257.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder William H. Milmoe sold 428,574 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $59.67, for a total transaction of $25,573,010.58. Following the completion of the transaction, the insider now owns 23,750,163 shares of the company’s stock, valued at $1,417,172,226.21. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder William H. Milmoe sold 428,568 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $59.67, for a total transaction of $25,572,652.56. Following the transaction, the insider now directly owns 25,035,885 shares of the company’s stock, valued at approximately $1,493,891,257.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,772,617 shares of company stock valued at $107,637,044. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Celsius

Hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP raised its stake in shares of Celsius by 123.5% during the fourth quarter. First Trust Advisors LP now owns 586,413 shares of the company’s stock valued at $31,971,000 after purchasing an additional 324,049 shares in the last quarter. Brown Advisory Inc. bought a new stake in shares of Celsius during the fourth quarter valued at about $242,000. Coldstream Capital Management Inc. raised its stake in shares of Celsius by 190.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,945 shares of the company’s stock valued at $215,000 after purchasing an additional 2,589 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Celsius by 215.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 487,367 shares of the company’s stock valued at $26,577,000 after purchasing an additional 332,980 shares in the last quarter. Finally, Yousif Capital Management LLC raised its stake in shares of Celsius by 197.3% during the fourth quarter. Yousif Capital Management LLC now owns 54,329 shares of the company’s stock valued at $2,962,000 after purchasing an additional 36,057 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

About Celsius

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.