Celsius Holdings CELH Drops
Celsius Holdings (CELH) Falls 8% on Profit-Taking
Celsius Holdings CELH drops 8.13% on Monday, closing at $49.25 per share amid profit-taking. Despite a significant surge in revenue by 83% to $2.5 billion, net profit fell by 41%. Analysts remain optimistic, with UBS raising its price target and Bank of America upgrading its fair value estimate.
Celsius Holdings CELH Drops
Celsius Holdings CELH experienced a notable decline on Monday, losing 8.13%, closing at $49.25 per share as investors took profits off the table following recent gains. This drop comes amid strong growth metrics; the company reported a significant surge in revenue, with a 83% increase to $2.5 billion for the latest period, up from $1.3 billion in the prior year. Despite this robust performance, earnings were slightly underwhelming, with net profit attributable to shareholders decreasing by 41% to $63.8 million compared to $107.5 million in the same quarter last year. Notably, despite these mixed signals, analyst sentiment remains positive. UBS raised its price target for CELH by 3% to $72 from $70, while Bank of America increased its fair value estimate by 44% to $65 from $45, indicating confidence in the company’s long-term prospects.
Comments
Post a Comment