SharkNinja (NYSE:SN) Stock Gets Downgrade from Wall Street Zen

SharkNinja (NYSE:SN) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

A number of other brokerages have also recently issued reports on SN. Piper Sandler upped their target price on SharkNinja from $200.00 to $234.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. UBS Group reaffirmed a “buy” rating and issued a $219.10 target price on shares of SharkNinja in a report on Wednesday, August 12th. TD Cowen raised their price target on SharkNinja from $205.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, October 27th. William Blair restated an “outperform” rating on shares of SharkNinja in a research note on Wednesday. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $204.00 price objective on shares of SharkNinja in a research report on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $208.32.

SharkNinja Stock Up 0.3%

Shares of NYSE SN opened at $223.53 on Friday. SharkNinja has a 1 year low of $83.21 and a 1 year high of $225.68. The company has a market capitalization of $31.50 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 2.44 and a beta of 1.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.04 and a quick ratio of 1.39. The business has a 50-day moving average of $186.03 and a two-hundred day moving average of $145.02.

SharkNinja (NYSE:SN) last posted its earnings results on Wednesday, November 4th. The company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.44. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.87 billion. SharkNinja had a return on equity of 28.84% and a net margin of 11.64%. The firm’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.50 earnings per share. On average, analysts forecast that SharkNinja will post 5.93 earnings per share for the current fiscal year.

Insider Transactions at SharkNinja

In other SharkNinja news, insider Neil Shah sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $186.36, for a total value of $9,318,000.00. Following the transaction, the insider directly owned 497,220 shares in the company, valued at approximately $92,661,919.20. This represents a 9.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 40.80% of the company’s stock.

Institutional Investors Weigh In On SharkNinja

Several hedge funds have recently made changes to their positions in SN. Aberdeen Group plc boosted its holdings in SharkNinja by 40.4% in the third quarter. Aberdeen Group plc now owns 291,652 shares of the company’s stock valued at $52,532,000 after acquiring an additional 83,950 shares during the last quarter. Moors & Cabot Inc. acquired a new stake in SharkNinja in the third quarter valued at approximately $245,000. JW Asset Management LLC purchased a new stake in SharkNinja during the 3rd quarter worth $4,683,000. Fifth Third Bancorp increased its position in shares of SharkNinja by 27.3% during the third quarter. Fifth Third Bancorp now owns 648 shares of the company’s stock worth $117,000 after acquiring an additional 139 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its holdings in SharkNinja by 19.9% during the 3rd quarter. New Mexico Educational Retirement Board now owns 17,500 shares of the company’s stock worth $3,152,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors and hedge funds own 34.77% of the company’s stock.

About SharkNinja

SharkNinja is a global product design and technology company that develops and markets household appliances under its Shark and Ninja brands. Its products are designed for everyday home use and are sold through retail and online channels.

The Shark brand is known for floor-care and cleaning products, including vacuums and floor cleaners, as well as home-environment and beauty products. Ninja focuses on kitchen appliances and food-preparation products, such as air fryers, blenders, multicookers, and coffee makers.