SharkNinja (NYSE:SN) Price Target Raised to $97.00

SharkNinja (NYSE:SN) had its price target raised by JPMorgan Chase & Co. from $80.00 to $97.00 in a research note published on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts also recently commented on the stock. Morgan Stanley raised their price objective on shares of SharkNinja from $65.00 to $67.00 and gave the company an equal weight rating in a research report on Friday, May 10th. Canaccord Genuity Group raised their price objective on shares of SharkNinja from $82.00 to $90.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. China Renaissance initiated coverage on shares of SharkNinja in a report on Wednesday, May 29th. They issued a buy rating for the company. The Goldman Sachs Group increased their target price on shares of SharkNinja from $74.00 to $83.00 and gave the company a buy rating in a report on Monday, May 13th. Finally, Bank of America initiated coverage on shares of SharkNinja in a research note on Thursday, May 16th. They set a buy rating and a $90.00 price objective for the company. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $81.31.

SharkNinja Stock Performance

Shares of SN stock traded up $0.80 during mid-day trading on Friday, hitting $88.44. 563,061 shares of the stock were exchanged, compared to its average volume of 1,091,059. The stock’s fifty day simple moving average is $75.73 and its two-hundred day simple moving average is $66.10. The stock has a market capitalization of $12.38 billion and a price-to-earnings ratio of 65.39. SharkNinja has a 12-month low of $29.42 and a 12-month high of $91.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.09 and a current ratio of 1.92.

SharkNinja (NYSE:SN) last announced its earnings results on Thursday, August 8th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.14. SharkNinja had a net margin of 4.25% and a return on equity of 29.62%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. On average, analysts forecast that SharkNinja will post 3.82 EPS for the current year.

Hedge Funds Weigh In On SharkNinja

Several large investors have recently modified their holdings of SN. SG Americas Securities LLC increased its stake in shares of SharkNinja by 9.4% in the 1st 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 in the last quarter. Parallel Advisors LLC bought a new position in shares of SharkNinja in the fourth quarter worth approximately $37,000. Picton Mahoney Asset Management bought a new position in SharkNinja during the second quarter valued at approximately $70,000. Headlands Technologies LLC purchased a new stake in shares of SharkNinja during the first quarter valued at approximately $66,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in SharkNinja in the first quarter worth $77,000. 34.77% of the stock is owned by 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.