SharkNinja (NYSE:SN) Price Target Raised to $129.00

SharkNinja (NYSE:SN) had its target price lifted by investment analysts at Canaccord Genuity Group from $128.00 to $129.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 25.90% from the stock’s current price.

A number of other research analysts have also issued reports on SN. Oppenheimer initiated coverage on shares of SharkNinja in a research note on Tuesday, October 1st. They set an “outperform” rating and a $120.00 price target on the stock. The Goldman Sachs Group raised their target price on SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. 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. JPMorgan Chase & Co. reduced their price objective on SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Finally, Guggenheim upped their target price on SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.50.

SharkNinja Price Performance

NYSE SN opened at $102.46 on Wednesday. SharkNinja has a 12-month low of $45.85 and a 12-month high of $112.93. The firm’s fifty day simple moving average is $98.90 and its two-hundred day simple moving average is $94.00. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $14.34 billion, a P/E ratio of 40.18, a P/E/G ratio of 1.65 and a beta of 1.10.

SharkNinja (NYSE:SN) last announced its 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. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company posted $0.95 EPS. The firm’s quarterly revenue was up 33.3% compared to the same quarter last year. Analysts forecast that SharkNinja will post 3.88 EPS for the current fiscal year.

Hedge Funds Weigh In On SharkNinja

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new stake in SharkNinja during the second quarter valued at $382,000. Rhumbline Advisers increased its stake in shares of SharkNinja by 1,810.4% in the 2nd quarter. Rhumbline Advisers now owns 60,769 shares of the company’s stock valued at $4,567,000 after purchasing an additional 57,588 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of SharkNinja in the 2nd quarter valued at about $190,482,000. Dimensional Fund Advisors LP boosted its position in SharkNinja by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 750,434 shares of the company’s stock worth $56,401,000 after purchasing an additional 14,140 shares in the last quarter. Finally, Quantbot Technologies LP grew its holdings in SharkNinja by 43.3% in the second quarter. Quantbot Technologies LP now owns 89,621 shares of the company’s stock valued at $6,735,000 after purchasing an additional 27,075 shares during the period. 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.