Canaccord Genuity Group Issues Positive Forecast for SharkNinja (NYSE:SN) Stock Price

SharkNinja (NYSE:SN) had its price target upped by equities research analysts at Canaccord Genuity Group from $128.00 to $129.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 25.90% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Morgan Stanley lifted 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. 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 report on Monday, October 7th. JPMorgan Chase & Co. decreased their target price on shares of SharkNinja from $128.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. The Goldman Sachs Group raised their price target on shares of SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group upped 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 research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $116.50.

SharkNinja Stock Performance

Shares of NYSE:SN opened at $102.46 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.67 and a quick ratio of 0.95. SharkNinja has a 1 year low of $45.85 and a 1 year high of $112.93. The firm has a market capitalization of $14.34 billion, a PE ratio of 40.18, a P/E/G ratio of 1.65 and a beta of 1.10. The business’s 50 day moving average price is $98.90 and its 200-day moving average price is $94.00.

SharkNinja (NYSE:SN) last issued its 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. SharkNinja had a net margin of 7.02% and a return on equity of 32.55%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the business earned $0.95 earnings per share. The company’s quarterly revenue was up 33.3% compared to the same quarter last year. As a group, equities research analysts expect that SharkNinja will post 3.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SharkNinja

Institutional investors have recently modified their holdings of the company. Signaturefd LLC boosted its holdings in SharkNinja by 104.6% during the 3rd quarter. Signaturefd LLC now owns 356 shares of the company’s stock valued at $39,000 after acquiring an additional 182 shares during the period. Hollencrest Capital Management acquired a new stake in shares of SharkNinja during the third quarter worth about $54,000. Safe Harbor Fiduciary LLC purchased a new position in shares of SharkNinja in the third quarter valued at approximately $54,000. Waldron Private Wealth LLC acquired a new position in shares of SharkNinja in the third quarter valued at approximately $65,000. Finally, Northwest & Ethical Investments L.P. purchased a new stake in SharkNinja during the 3rd quarter worth approximately $163,000. 34.77% of the stock is owned by institutional investors and hedge funds.

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.