SharkNinja (NYSE:SN) Price Target Raised to $93.00

SharkNinja (NYSE:SN) had its price objective raised by analysts at Morgan Stanley from $80.00 to $93.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential downside of 1.85% from the stock’s current price.

A number of other equities analysts also recently issued reports on SN. Guggenheim lifted their price target on SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Jefferies Financial Group lifted their target price on SharkNinja from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Bank of America increased their price target on SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price objective on shares of SharkNinja from $97.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, The Goldman Sachs Group increased their target price on shares of SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a report on Monday, October 21st. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.85.

SharkNinja Stock Performance

Shares of SN opened at $94.75 on Friday. The stock has a 50-day moving average of $103.42 and a 200-day moving average of $84.63. SharkNinja has a one year low of $41.12 and a one year high of $112.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.71 and a quick ratio of 1.04. The company has a market cap of $13.26 billion, a PE ratio of 54.45, a P/E/G ratio of 1.92 and a beta of 0.77.

SharkNinja (NYSE:SN) last issued its earnings results on Thursday, October 31st. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.17. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.31 billion. SharkNinja had a return on equity of 32.29% and a net margin of 5.16%. SharkNinja’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. On average, equities research analysts predict that SharkNinja will post 3.9 EPS for the current fiscal year.

Institutional Trading of SharkNinja

Hedge funds have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC purchased a new stake in shares of SharkNinja during the 2nd quarter worth approximately $190,482,000. Thrivent Financial for Lutherans grew its holdings 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 purchasing an additional 380,926 shares during the period. Wolf Hill Capital Management LP increased its position in SharkNinja by 4.1% in the first quarter. Wolf Hill Capital Management LP now owns 1,405,343 shares of the company’s stock worth $87,539,000 after buying an additional 55,974 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new stake in shares of SharkNinja in the first quarter valued at $62,309,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of SharkNinja by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 750,434 shares of the company’s stock valued at $56,401,000 after buying an additional 14,140 shares during the last quarter. 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.