SharkNinja (NYSE:SN) Stock Price Down 4.7% – What’s Next?

SharkNinja, Inc. (NYSE:SN)’s share price dropped 4.7% on Wednesday . The stock traded as low as $95.64 and last traded at $96.11. Approximately 567,998 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 1,201,981 shares. The stock had previously closed at $100.89.

Analysts Set New Price Targets

Several brokerages have issued reports on SN. The Goldman Sachs Group raised 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. Guggenheim boosted 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. Morgan Stanley increased their price objective on SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lowered their price target on shares of SharkNinja from $128.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Finally, Jefferies Financial Group boosted their price target on SharkNinja from $115.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.39.

SharkNinja Stock 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 firm has a market cap of $13.28 billion, a P/E ratio of 37.22, a P/E/G ratio of 1.65 and a beta of 1.00. The company’s 50 day moving average is $102.17 and its 200 day moving average is $91.89.

SharkNinja (NYSE:SN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.17. The company had revenue of $1.43 billion during 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%. SharkNinja’s revenue was up 33.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. As a group, equities analysts predict that SharkNinja, Inc. will post 3.88 earnings per share for the current fiscal year.

Institutional Trading of SharkNinja

A number of hedge funds have recently made changes to their positions in SN. Signaturefd LLC raised its holdings in SharkNinja by 104.6% in the 3rd quarter. Signaturefd LLC now owns 356 shares of the company’s stock valued at $39,000 after buying an additional 182 shares during the last quarter. Hollencrest Capital Management bought a new position in shares of SharkNinja during the third quarter valued at $54,000. Safe Harbor Fiduciary LLC acquired a new position in shares of SharkNinja during the third quarter worth $54,000. Waldron Private Wealth LLC bought a new stake in shares of SharkNinja in the third quarter worth $65,000. Finally, Picton Mahoney Asset Management acquired a new stake in SharkNinja in the second quarter valued at $70,000. 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.