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

SharkNinja (NYSE:SN) had its target price hoisted by equities research analysts at Canaccord Genuity Group from $128.00 to $129.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 26.47% from the company’s current price.

SN has been the topic of a number of other research reports. Jefferies Financial Group boosted their target price on shares of SharkNinja from $115.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Oppenheimer began coverage on SharkNinja in a report on Tuesday, October 1st. They set an “outperform” rating and a $120.00 price objective on the stock. The Goldman Sachs Group raised their target price on SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. decreased their price target on SharkNinja from $128.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Finally, Guggenheim raised their price objective on shares of SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 7th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $116.50.

SharkNinja Trading Down 0.4 %

NYSE:SN opened at $102.00 on Wednesday. The firm’s 50 day moving average is $98.92 and its 200 day moving average is $94.11. SharkNinja has a 12 month low of $45.85 and a 12 month high of $112.93. The stock has a market capitalization of $14.27 billion, a PE ratio of 40.00, a price-to-earnings-growth ratio of 1.65 and a beta of 1.10. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42.

SharkNinja (NYSE:SN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. Sell-side analysts expect that SharkNinja will post 3.88 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its position in SharkNinja by 47.5% during the third quarter. FMR LLC now owns 10,307,632 shares of the company’s stock valued at $1,120,543,000 after purchasing an additional 3,321,684 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of SharkNinja during the 2nd quarter worth $190,482,000. Baillie Gifford & Co. grew its position in SharkNinja by 6,408.9% in 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 in the last quarter. Thrivent Financial for Lutherans increased its stake in SharkNinja by 29.0% in 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 during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in SharkNinja during the third quarter valued at about $114,878,000. Hedge funds and other institutional investors own 34.77% of the company’s stock.

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.