SharkNinja (NYSE:SN) Hits New 52-Week High After Analyst Upgrade

SharkNinja, Inc. (NYSE:SN) shares hit a new 52-week high during mid-day trading on Wednesday after Jefferies Financial Group raised their price target on the stock from $115.00 to $150.00. Jefferies Financial Group currently has a buy rating on the stock. SharkNinja traded as high as $112.30 and last traded at $110.08, with a volume of 79346 shares trading hands. The stock had previously closed at $109.48.

A number of other analysts have also recently issued reports on SN. The Goldman Sachs Group increased their price objective on SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a report on Monday. Guggenheim increased their price objective on SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Oppenheimer initiated coverage on SharkNinja in a report on Tuesday, October 1st. They set an “outperform” rating and a $120.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on SharkNinja from $97.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Canaccord Genuity Group increased their price objective on SharkNinja from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.25.

Institutional Trading of SharkNinja

Institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC bought a new position in shares of SharkNinja during the 1st quarter valued at about $981,000. Capstone Investment Advisors LLC increased its position in shares of SharkNinja by 275.5% during the 1st quarter. Capstone Investment Advisors LLC now owns 92,772 shares of the company’s stock valued at $5,779,000 after purchasing an additional 68,069 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of SharkNinja during the 1st quarter valued at about $1,076,000. Essex LLC bought a new position in shares of SharkNinja during the 1st quarter valued at about $204,000. Finally, Mawer Investment Management Ltd. increased its position in shares of SharkNinja by 123.1% during the 1st quarter. Mawer Investment Management Ltd. now owns 209,682 shares of the company’s stock valued at $13,061,000 after purchasing an additional 115,676 shares during the last quarter. Hedge funds and other institutional investors own 34.77% of the company’s stock.

SharkNinja Price Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.71. The stock has a market capitalization of $15.08 billion, a P/E ratio of 61.95, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. The firm has a 50-day moving average price of $101.46 and a 200 day moving average price of $82.93.

SharkNinja (NYSE:SN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.57 by $0.14. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.08 billion. SharkNinja had a return on equity of 32.29% and a net margin of 5.16%. The company’s revenue was up 31.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 EPS. On average, analysts expect that SharkNinja, Inc. will post 3.89 EPS for the current year.

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.