SharkNinja (NYSE:SN) PT Raised to $128.00

SharkNinja (NYSE:SN) had its target price hoisted by investment analysts at Canaccord Genuity Group from $126.00 to $128.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 16.59% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group lifted their target price on SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a report on Monday. Jefferies Financial Group boosted their price objective on shares of SharkNinja from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of SharkNinja from $97.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Oppenheimer began coverage on shares of SharkNinja in a report on Tuesday, October 1st. They set an “outperform” rating and a $120.00 price target on the stock. Finally, Guggenheim raised their price objective on shares of SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SharkNinja currently has an average rating of “Moderate Buy” and an average price target of $109.05.

SharkNinja Price Performance

Shares of SharkNinja stock traded up $2.00 on Friday, hitting $109.79. 365,605 shares of the company traded hands, compared to its average volume of 1,111,327. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.71. The business has a 50-day simple moving average of $101.79 and a 200 day simple moving average of $83.11. SharkNinja has a 52 week low of $38.69 and a 52 week high of $112.65. The stock has a market capitalization of $15.36 billion, a P/E ratio of 63.10, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77.

SharkNinja (NYSE:SN) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.14. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.08 billion. SharkNinja had a return on equity of 32.29% and a net margin of 5.16%. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. Research analysts expect that SharkNinja will post 3.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. William Blair Investment Management LLC purchased a new position in SharkNinja in the second quarter valued at about $190,482,000. Jericho Capital Asset Management L.P. purchased a new position in shares of SharkNinja in the 1st quarter worth approximately $62,309,000. Hood River Capital Management LLC bought a new position in shares of SharkNinja during the 1st quarter worth approximately $38,290,000. Thrivent Financial for Lutherans lifted its position in SharkNinja by 29.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock valued at $127,450,000 after acquiring an additional 380,926 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in SharkNinja by 1,394.6% during the second quarter. Bank of New York Mellon Corp now owns 254,764 shares of the company’s stock valued at $19,146,000 after acquiring an additional 237,718 shares during the last quarter. 34.77% of the stock is owned by institutional investors.

SharkNinja Company Profile

SharkNinja, Inc, a product design and technology company, engages in the provision of various solutions for consumers worldwide. It offers cleaning appliances, including corded and cordless vacuums, including handheld and robotic vacuums, as well as other floorcare products comprising steam mops, wet/dry cleaning floor products, and carpet extraction; cooking and beverage appliances, such as air fryers, multi-cookers, outdoor and countertop grills and ovens, coffee systems, carbonation, cookware, cutlery, kettles, toasters and bakeware; food preparation appliances comprising blenders, food processors, ice cream makers, and juicers; and beauty appliances, such as hair dryers and stylers, as well as home environment products comprising air purifiers and humidifiers.