Monday, 2 October 2023

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Vita Coco Company (COCO) Gets a Hold from Morgan Stanley – TipRanks Financial Blog

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Morgan Stanley analyst Eric Serotta initiated coverage with a Hold rating on Vita Coco Company (COCOResearch Report) today and set a price target of $29.00. The company’s shares closed yesterday at $26.49.

Serotta covers the Consumer Defensive sector, focusing on stocks such as Brown-Forman B, Vita Coco Company, and Boston Beer. According to TipRanks, Serotta has an average return of -18.2% and a 29.41% success rate on recommended stocks.

Vita Coco Company has an analyst consensus of Moderate Buy, with a price target consensus of $30.20.

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Based on Vita Coco Company’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $139.65 million and a net profit of $17.99 million. In comparison, last year the company earned a revenue of $115.31 million and had a net profit of $1.14 million

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of COCO in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

The Vita Coco Co Inc is a plant-based functional hydration platform. Its products include Vita Coco Coconut Water, Private Label including coconut water and oil, and Other including Runa and Ever & Ever product offerings, Vita Coco product extensions beyond coconut water, such as Vita Coco Sparkling, coconut milk products, and others.

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