Canaccord Genuity Group Raises SharkNinja (NYSE:SN) Price Target to $90.00

SharkNinja (NYSE:SN) had its price objective lifted by Canaccord Genuity Group from $82.00 to $90.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. assumed coverage on shares of SharkNinja in a research report on Thursday, April 4th. They set an overweight rating and a $70.00 target price on the stock. Morgan Stanley lifted their target price on shares of SharkNinja from $65.00 to $67.00 and gave the stock an equal weight rating in a research report on Friday, May 10th. China Renaissance initiated coverage on shares of SharkNinja in a research report on Wednesday, May 29th. They issued a buy rating on the stock. The Goldman Sachs Group boosted their price target on shares of SharkNinja from $74.00 to $83.00 and gave the stock a buy rating in a research report on Monday, May 13th. Finally, Bank of America initiated coverage on shares of SharkNinja in a research report on Thursday, May 16th. They issued a buy rating and a $90.00 price target on the stock. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of 75.56.

SharkNinja Stock Up 4.0 %

Shares of NYSE:SN opened at 73.74 on Tuesday. The firm has a 50 day simple moving average of 75.47 and a 200 day simple moving average of 63.90. SharkNinja has a 52 week low of 25.84 and a 52 week high of 80.81. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.09 and a current ratio of 1.92. The company has a market cap of $10.32 billion and a PE ratio of 54.62.

SharkNinja (NYSE:SN) last posted its quarterly earnings results on Thursday, May 9th. The company reported 1.06 earnings per share for the quarter, beating analysts’ consensus estimates of 0.95 by 0.11. SharkNinja had a net margin of 4.25% and a return on equity of 29.62%. The company had revenue of 1.07 billion for the quarter, compared to the consensus estimate of 949.88 million. During the same period last year, the company posted $0.86 EPS. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. As a group, research analysts expect that SharkNinja will post 3.82 earnings per share for the current year.

Institutional Investors Weigh In On SharkNinja

Several institutional investors have recently added to or reduced their stakes in SN. Parallel Advisors LLC bought a new position in shares of SharkNinja in the fourth quarter worth approximately $37,000. Headlands Technologies LLC bought a new position in SharkNinja during the first quarter valued at approximately $66,000. E Fund Management Hong Kong Co. Ltd. bought a new position in SharkNinja during the first quarter valued at approximately $77,000. Tower Research Capital LLC TRC bought a new position in SharkNinja during the fourth quarter valued at approximately $97,000. Finally, Kessler Investment Group LLC purchased a new stake in shares of SharkNinja during the second quarter valued at approximately $125,000. 34.77% of the stock is owned by hedge funds and other institutional investors.

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.