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:AMZN) with 18.23% share of the energy drink category. Celsius is trailing Monster Beverage Corp (NASDAQ:MNST) by 7.74%, but it's ahead of Red Bull by 6.62%.
Analyst Assessment:
- Maxim Group analyst Anthony Vendetti upgraded Celsius from a Hold rating to a Buy rating and announced a $70 price target.
- Credit Suisse 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.
