🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Celsius Trails Only Monster Beverage On Amazon: Here's Why The Energy Drink Stock Is Surging Today

Published 11/05/2022, 16:50
Updated 11/05/2022, 17:42
© Reuters.  Celsius Trails Only Monster Beverage On Amazon: Here's Why The Energy Drink Stock Is Surging Today
MNST
-
AMZN
-
IXIC
-
CELH
-
M1NS34
-

Celsius Holdings Inc (NASDAQ: CELH) shares are trading higher Wednesday after the company reported better-than-expected financial results.

Celsius said first-quarter revenue increased 167% year-over-year to $133.4 million, which beat the $114.05 million estimate, according to data from Benzinga Pro. The company said domestic revenue was up 217% year-over-year, while international revenue decreased 10% year-over-year.

Celsius reported net comprehensive income of $6.19 million, which was up from $392,000 year-over-year.

Celsius said it's currently the second largest energy drink on Amazon.com Inc (NASDAQ: NASDAQ:AMZN) with 18.23% share of the energy drink category. Celsius is trailing Monster Beverage Corp (NASDAQ: NASDAQ:MNST) by 7.74%, but it's ahead of Red Bull by 6.62%.

Analyst Assessment:

  • Maxim (NASDAQ:MXIM) Group analyst Anthony Vendetti upgraded Celsius from a Hold rating to a Buy rating and announced a $70 price target.
  • Credit Suisse (SIX:CSGN) analyst Kaumil Gajrawala maintained Celsius with a Neutral rating and raised the price target from $50 to $55.
Related Link: Benzinga's Top Ratings Upgrades, Downgrades For May 11, 2022

CELH 52-Week Range: $38.31 - $110.22

The stock was up 24.7% at $51.51 at press time.

Photo: courtesy of Celsius.

Latest Ratings for CELH

DateFirmActionFromTo
Nov 2021StifelInitiates Coverage OnBuy
Nov 2021B. Riley SecuritiesMaintainsBuy
Nov 2021Credit SuisseDowngradesOutperformNeutral
View More Analyst Ratings for CELH

View the Latest Analyst Ratings

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.