SharkNinja (NYSE:SN) Stock Price Expected to Rise, Morgan Stanley Analyst Says

SharkNinja (NYSE:SN) had its price objective boosted by research analysts at Morgan Stanley from $80.00 to $93.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 4.35% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group increased their target price on SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Bank of America increased their price objective on shares of SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. boosted their target price on shares of SharkNinja from $97.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Canaccord Genuity Group increased their price target on shares of SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group boosted their price objective on SharkNinja from $115.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.85.

SharkNinja Stock Down 3.4 %

NYSE SN opened at $89.12 on Friday. The stock has a market cap of $12.47 billion, a PE ratio of 34.95, a P/E/G ratio of 1.60 and a beta of 1.04. The business has a 50 day moving average price of $103.41 and a two-hundred day moving average price of $84.97. SharkNinja has a fifty-two week low of $41.12 and a fifty-two week high of $112.93. The company has a quick ratio of 1.04, a current ratio of 1.71 and a debt-to-equity ratio of 0.46.

SharkNinja (NYSE:SN) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.17. SharkNinja had a net margin of 7.02% and a return on equity of 33.74%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the business earned $0.95 EPS. The business’s revenue was up 33.3% on a year-over-year basis. As a group, sell-side analysts predict that SharkNinja will post 3.9 EPS for the current fiscal year.

Hedge Funds Weigh In On SharkNinja

Large investors have recently bought and sold shares of the business. abrdn plc lifted its stake in SharkNinja by 17.8% in the third quarter. abrdn plc now owns 419,660 shares of the company’s stock valued at $45,621,000 after buying an additional 63,299 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in SharkNinja in the 1st quarter valued at about $981,000. GSA Capital Partners LLP acquired a new position in SharkNinja during the 1st quarter valued at about $1,076,000. NBC Securities Inc. grew its position in SharkNinja by 4,000.0% in the 3rd quarter. NBC Securities Inc. now owns 6,150 shares of the company’s stock worth $668,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Concorde Asset Management LLC acquired a new stake in shares of SharkNinja in the second quarter valued at approximately $661,000. Institutional investors own 34.77% of the company’s stock.

About SharkNinja

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.