SharkNinja (NYSE:SN) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

SharkNinja (NYSE:SN) had its price target boosted by investment analysts at Canaccord Genuity Group from $136.00 to $138.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 49.39% from the stock’s previous close.

Several other research analysts have also issued reports on SN. JPMorgan Chase & Co. cut their target price on shares of SharkNinja from $131.00 to $126.00 and set an “overweight” rating on the stock in a research note on Friday. Wall Street Zen upgraded SharkNinja from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Oppenheimer decreased their price objective on shares of SharkNinja from $135.00 to $112.00 and set an “outperform” rating for the company in a research note on Tuesday, October 21st. Zacks Research lowered shares of SharkNinja from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings downgraded SharkNinja from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.57.

SharkNinja Trading Up 0.5%

Shares of SN traded up $0.47 during mid-day trading on Friday, reaching $92.37. 2,142,287 shares of the company were exchanged, compared to its average volume of 1,707,375. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.20 and a current ratio of 1.94. SharkNinja has a 52 week low of $60.50 and a 52 week high of $128.51. The business has a 50 day simple moving average of $102.12 and a two-hundred day simple moving average of $101.48. The stock has a market capitalization of $13.04 billion, a PE ratio of 25.24, a PEG ratio of 1.64 and a beta of 1.51.

SharkNinja (NYSE:SN) last posted its quarterly earnings data on Thursday, November 6th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.18. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. SharkNinja had a net margin of 8.82% and a return on equity of 28.78%. SharkNinja’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 earnings per share. SharkNinja has set its FY 2025 guidance at 5.050-5.150 EPS. On average, analysts predict that SharkNinja will post 4.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SharkNinja

A number of large investors have recently modified their holdings of SN. GAMMA Investing LLC lifted its stake in SharkNinja by 77.9% in the first quarter. GAMMA Investing LLC now owns 354 shares of the company’s stock worth $30,000 after purchasing an additional 155 shares during the last quarter. World Investment Advisors bought a new stake in SharkNinja during the first quarter worth about $268,000. Bank of New York Mellon Corp grew its stake in shares of SharkNinja by 9.9% in the 1st quarter. Bank of New York Mellon Corp now owns 263,540 shares of the company’s stock worth $21,982,000 after buying an additional 23,804 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of SharkNinja by 2.1% during the first quarter. Envestnet Asset Management Inc. now owns 18,948 shares of the company’s stock valued at $1,580,000 after acquiring an additional 396 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in SharkNinja during the 1st quarter valued at about $333,000. 34.77% of the stock is owned by hedge funds and other institutional investors.

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.