SharkNinja (NYSE:SN) Trading Up 5.8% – Should You Buy?

SharkNinja, Inc. (NYSE:SN)’s share price was up 5.8% on Wednesday . The company traded as high as $104.64 and last traded at $104.64. Approximately 238,574 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 1,206,077 shares. The stock had previously closed at $98.87.

Analyst Ratings Changes

Several research firms have recently issued reports on SN. Canaccord Genuity Group upped their price objective on SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Guggenheim increased their price target on shares of SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 7th. The Goldman Sachs Group boosted their price objective on shares of SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Oppenheimer initiated coverage on shares of SharkNinja in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of SharkNinja from $128.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $116.39.

SharkNinja Price Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.67. The company has a market capitalization of $14.23 billion, a PE ratio of 39.89, a P/E/G ratio of 1.63 and a beta of 1.00. The company’s 50-day simple moving average is $103.41 and its 200-day simple moving average is $90.31.

SharkNinja (NYSE:SN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.17. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.31 billion. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. The firm’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 EPS. As a group, sell-side analysts anticipate that SharkNinja, Inc. will post 3.88 earnings per share for the current year.

Hedge Funds Weigh In On SharkNinja

Institutional investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in SharkNinja by 47.5% in the 3rd quarter. FMR LLC now owns 10,307,632 shares of the company’s stock valued at $1,120,543,000 after purchasing an additional 3,321,684 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of SharkNinja in the second quarter valued at approximately $190,482,000. Baillie Gifford & Co. boosted its stake in shares of SharkNinja by 6,408.9% in the third quarter. Baillie Gifford & Co. now owns 1,825,626 shares of the company’s stock valued at $198,464,000 after buying an additional 1,797,578 shares in the last quarter. 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 worth $127,450,000 after acquiring an additional 380,926 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new position in SharkNinja in the third quarter worth $114,878,000. 34.77% of the stock is owned by institutional investors and hedge funds.

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.