Celsius Holdings, Inc. ( CELH ) shares are trading mostly flat Thursday following a nearly 12% drop on Wednesday. Here's a look at what's going on. 

What To Know:

Celsius' management participated in a fireside chat at Barclays‘ 17th Annual Global Consumer Staples Conference at 12:00 p.m. ET Wednesday. According to reports, Celsius said current quarter sales to PepsiCo, Inc. ( PEP ) are down $100 million to $120 million compared to last year.

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Celsius shares plunged following the fireside chat and ended Wednesday's session nearly 12% lower. 

Stifel analyst Mark Astrachan maintained Celsius Holdings ( CELH ) with a Buy and lowered the price target from $61 to $51 on Thursday, potentially in response to the Pepsi sales decline. Piper Sandler also maintained its Overweight rating Thursday, but lowered its price target on the stock from $65 to $50.

Will CELH Stock Go Up?

When trying to assess whether or not Celsius Holdings ( CELH ) will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $67.67 on Celsius Holdings ( CELH ). The Street high target is currently at $98 and the Street low target is $32. Of all the analysts covering Celsius Holdings ( CELH ), 20 have positive ratings, 9 have neutral ratings and one has a negative rating.

In the last month, 11 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Celsius Holdings ( CELH ) have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Celsius Holdings ( CELH ) is 45.45% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Celsius Holdings ( CELH ), visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

CELH Price Action: According to Benzinga Pro, Celsius Holdings ( CELH ) shares are up 1.14% at $32.72 at the time of publication Thursday. 

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Image: Courtesy of Celsius Holdings, Inc. ( CELH )