SharkNinja (NYSE:SN) Sees Unusually-High Trading Volume After Better-Than-Expected Earnings

SharkNinja, Inc. (NYSE:SN) shares saw strong trading volume on Friday following a better than expected earnings announcement. 782,370 shares changed hands during trading, a decline of 32% from the previous session’s volume of 1,143,031 shares.The stock last traded at $93.94 and had previously closed at $92.21.

The company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.04 by $0.17. SharkNinja had a net margin of 5.16% and a return on equity of 32.29%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company posted $0.95 earnings per share. The company’s quarterly revenue was up 33.3% compared to the same quarter last year.

Analysts Set New Price Targets

SN has been the topic of a number of recent research reports. Guggenheim raised their price target on shares of SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. decreased their price objective on SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a report on Friday. The Goldman Sachs Group boosted their price target on shares of SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Canaccord Genuity Group lifted their target price on SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Jefferies Financial Group increased their price objective on SharkNinja from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, SharkNinja currently has an average rating of “Moderate Buy” and a consensus target price of $110.85.

Institutional Investors Weigh In On SharkNinja

Several large investors have recently made changes to their positions in the company. Signaturefd LLC lifted its stake in shares of SharkNinja by 104.6% in the 3rd quarter. Signaturefd LLC now owns 356 shares of the company’s stock valued at $39,000 after purchasing an additional 182 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of SharkNinja during the 3rd quarter worth approximately $54,000. Waldron Private Wealth LLC bought a new stake in SharkNinja in the third quarter valued at about $65,000. Headlands Technologies LLC bought a new position in shares of SharkNinja during the 1st quarter worth approximately $66,000. Finally, Picton Mahoney Asset Management acquired a new stake in shares of SharkNinja during the 2nd quarter worth about $70,000. Institutional investors own 34.77% of the company’s stock.

SharkNinja Trading Down 3.4 %

The company has a quick ratio of 1.04, a current ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a market cap of $12.47 billion, a price-to-earnings ratio of 51.21, a price-to-earnings-growth ratio of 1.92 and a beta of 0.77. The company’s fifty day moving average price is $103.41 and its two-hundred day moving average price is $84.82.

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.