We recently published an article titled These 10 Companies Led Monday’s Downturn. In this article, we are going to take a look at where Celsius Holdings Inc. (NASDAQ:CELH) stands against the other stocks.
Wall Street’s major indices kicked off the trading on a positive note, all finishing in the green territory, as investors brushed off fears of growing global trade tensions.
The Dow Jones rose by 0.38 percent, the S&P 500 grew 0.67 percent, while the Nasdaq rallied 0.98 percent.
However, 10 companies defied a broader market optimism, mostly due to a series of stock rating downgrades from investment research companies on the back of poor earnings guidance and dismal earnings performance.
To come up with Monday’s worst performers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A hand pouring a cool can of a carbonated non-alcoholic beverage with a smiley face on it.
Celsius Holdings Inc. (NASDAQ:CELH)
Celsius Holdings Inc. saw its share prices decline by 3.26 percent on Monday to finish at $21.68 apiece as investors sold off positions following a downgrade in the company’s stock rating.
On Monday, analysts from Stifel revised their outlook for CELH to $37 from $45 previously as they anticipate a shift in CELH’s sales growth patterns for the upcoming quarters of the year.
In particular, analysts expect CELH sales growth to drop by 8 percent in the first quarter, in contrast to the consensus 4 percent increase.
However, a recovery of 2 percent is expected in the second quarter, which falls below the consensus of 4 percent.
Despite the lower price target, Stifel remains optimistic about the company’s long-term prospects and its ability to navigate through challenging sales performance.
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This article is originally published at Insider Monkey.
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