Brokerages Set The Vita Coco Company, Inc. (NASDAQ:COCO) Price Target at $17.00

Posted by Defense World Staff on Apr 8th, 2023

The Vita Coco Company, Inc. (NASDAQ:COCO – Get Rating) has earned a consensus rating of “Buy” from the seven analysts that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $18.14.

Several analysts have recently weighed in on COCO shares. Credit Suisse Group lifted their target price on shares of Vita Coco from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, March 9th. The Goldman Sachs Group lifted their target price on shares of Vita Coco from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, March 9th. Evercore ISI lifted their target price on shares of Vita Coco from $16.00 to $18.00 in a research report on Thursday, March 9th. Craig Hallum initiated coverage on shares of Vita Coco in a research report on Wednesday. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Wells Fargo & Company boosted their target price on shares of Vita Coco from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, March 9th.

Vita Coco Stock Performance

Shares of Vita Coco stock opened at $20.78 on Wednesday. Vita Coco has a 1 year low of $7.39 and a 1 year high of $21.22. The company has a market capitalization of $1.16 billion, a P/E ratio of 148.44 and a beta of 0.12. The company’s fifty day moving average is $16.94 and its two-hundred day moving average is $13.83.

Vita Coco (NASDAQ:COCO – Get Rating) last issued its quarterly earnings data on Wednesday, March 8th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $91.99 million for the quarter, compared to the consensus estimate of $90.15 million. Vita Coco had a net margin of 1.83% and a return on equity of 11.59%. As a group, equities analysts expect that Vita Coco will post 0.64 earnings per share for the current year.

Institutional Trading of Vita Coco

Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its position in shares of Vita Coco by 154.1% during the second quarter. Legal & General Group Plc now owns 3,008 shares of the company’s stock worth $29,000 after acquiring an additional 1,824 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Vita Coco during the first quarter worth about $33,000. JPMorgan Chase & Co. grew its position in shares of Vita Coco by 25.2% during the first quarter. JPMorgan Chase & Co. now owns 5,268 shares of the company’s stock worth $47,000 after acquiring an additional 1,062 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Vita Coco by 681.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,135 shares of the company’s stock worth $58,000 after acquiring an additional 4,478 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Vita Coco during the fourth quarter worth about $71,000. 24.07% of the stock is owned by institutional investors and hedge funds.

Vita Coco Company Profile

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The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.