Canaccord Genuity Group Forecasts Strong Price Appreciation for SharkNinja (NYSE:SN) Stock

SharkNinja (NYSE:SN) had its price objective hoisted by Canaccord Genuity Group from $128.00 to $129.00 in a report issued on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the company. Jefferies Financial Group boosted their price target on SharkNinja from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Oppenheimer started coverage on shares of SharkNinja in a research report on Tuesday, October 1st. They set an “outperform” rating and a $120.00 target price on the stock. 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. Guggenheim lifted their price objective on shares of SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. cut their target price on SharkNinja from $128.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.50.

SharkNinja Trading Down 0.4 %

NYSE:SN opened at $102.00 on Wednesday. The stock has a market capitalization of $14.27 billion, a price-to-earnings ratio of 40.00, a PEG ratio of 1.65 and a beta of 1.10. SharkNinja has a 52 week low of $45.85 and a 52 week high of $112.93. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $98.72 and a 200 day moving average of $94.05.

SharkNinja (NYSE:SN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.21 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 firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that SharkNinja will post 3.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SN. FMR LLC grew its position in SharkNinja by 47.5% during the 3rd quarter. FMR LLC now owns 10,307,632 shares of the company’s stock worth $1,120,543,000 after purchasing an additional 3,321,684 shares during the period. William Blair Investment Management LLC acquired a new stake in SharkNinja during the second quarter worth about $190,482,000. Baillie Gifford & Co. grew its holdings in SharkNinja by 6,408.9% during the third quarter. Baillie Gifford & Co. now owns 1,825,626 shares of the company’s stock worth $198,464,000 after acquiring an additional 1,797,578 shares during the period. Thrivent Financial for Lutherans raised its position in SharkNinja by 29.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock valued at $127,450,000 after acquiring an additional 380,926 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in SharkNinja in the third quarter valued at approximately $114,878,000. 34.77% of the stock is currently owned by institutional investors and hedge funds.

SharkNinja Company Profile

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.