SharkNinja (NYSE:SN) Shares Gap Down – Here’s Why

SharkNinja, Inc. (NYSE:SN) gapped down prior to trading on Thursday . The stock had previously closed at $110.92, but opened at $100.62. SharkNinja shares last traded at $98.22, with a volume of 865,132 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SN. 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. Oppenheimer started coverage on SharkNinja in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 target price for the company. Morgan Stanley lifted their price target on shares of SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Friday. Bank of America increased their price objective on shares of SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, 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 research report on Friday. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $110.85.

SharkNinja Stock Down 3.4 %

The stock has a market capitalization of $12.47 billion, a P/E ratio of 34.95, a P/E/G ratio of 1.60 and a beta of 1.04. The company has a current ratio of 1.71, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. The firm’s fifty day moving average is $103.41 and its 200-day moving average is $84.82.

SharkNinja (NYSE:SN) last announced its earnings results on Thursday, October 31st. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.04 by $0.17. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.31 billion. SharkNinja had a return on equity of 33.74% 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 previous year, the business earned $0.95 EPS. As a group, equities research analysts predict that SharkNinja, Inc. will post 3.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its holdings in SharkNinja by 104.6% during the 3rd quarter. Signaturefd LLC now owns 356 shares of the company’s stock worth $39,000 after buying an additional 182 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of SharkNinja by 9.4% during the first quarter. SG Americas Securities LLC now owns 4,418 shares of the company’s stock valued at $275,000 after acquiring an additional 380 shares during the period. Hollencrest Capital Management bought a new position in SharkNinja in the third quarter valued at about $54,000. Waldron Private Wealth LLC acquired a new stake in SharkNinja in the third quarter worth about $65,000. Finally, Picton Mahoney Asset Management acquired a new stake in SharkNinja in the second quarter worth about $70,000. Institutional investors and hedge funds own 34.77% of the company’s stock.

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.