Analyst Anthony Vendetti from Maxim Group reiterated a Buy rating on Celsius Holdings (CELH – Research Report) and keeping the price target at $110.00.
Anthony Vendetti has given his Buy rating due to a combination of factors which indicate robust growth and potential for Celsius Holdings. Despite a revenue shortfall in the first quarter of 2024 caused by inventory adjustments with a major distributor, Vendetti observes the company’s significant year-over-year revenue growth of 36.8%, along with its outperformance in gross margins and GAAP EPS. Additionally, the company’s dominance in online marketplaces and substantial cash reserves with no debt underscore its financial health and market position.
Vendetti’s optimism is further supported by the brand’s increasing market share, particularly on Amazon, and the anticipation of retailer spring resets, which are expected to enhance brand visibility and market penetration. Furthermore, Vendetti notes the success of new product launches and the expansion of sales and key account teams to drive growth. With plans to enter new international markets and the potential benefits from a strategic partnership with PepsiCo, Vendetti believes that the premium valuation of Celsius Holdings is justified, considering its exceptional growth trajectory and market share gains relative to its peers.
According to TipRanks, Vendetti is an analyst with an average return of -6.0% and a 32.46% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Lucid Diagnostics, Biolase, and Joint.
In another report released yesterday, Jefferies also maintained a Buy rating on the stock with a $105.00 price target.
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Celsius Holdings (CELH) Company Description:
Celsius Holdings, Inc. engages in the development, marketing, sale, and distribution of calorie-burning beverages. It offers flavors including grapefruit, cucumber lime, orange pomegranate, pineapple coconut, watermelon berry, and strawberries and cream. The company was founded in April 2004 and is headquartered in Boca Raton, FL.
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