SharkNinja (NYSE:SN) PT Raised to $123.00 at The Goldman Sachs Group

SharkNinja (NYSE:SN) had its target price raised by investment analysts at The Goldman Sachs Group from $102.00 to $123.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 12.33% from the company’s previous close.

A number of other brokerages have also issued reports on SN. Canaccord Genuity Group boosted their target price on shares of SharkNinja from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Oppenheimer initiated coverage on shares of SharkNinja in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price objective for the company. Bank of America raised their target price on shares of SharkNinja from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price target on SharkNinja from $97.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Guggenheim raised their price objective on SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 7th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, SharkNinja has a consensus rating of “Moderate Buy” and a consensus target price of $100.28.

SharkNinja Stock Performance

SharkNinja stock opened at $109.50 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.71 and a quick ratio of 1.04. The firm has a market capitalization of $15.32 billion, a P/E ratio of 62.93, a price-to-earnings-growth ratio of 1.90 and a beta of 0.77. SharkNinja has a 1-year low of $38.69 and a 1-year high of $110.96. The company’s 50-day moving average is $101.05 and its 200 day moving average is $82.75.

SharkNinja (NYSE:SN) last issued its quarterly 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 return on equity of 32.29% and a net margin of 5.16%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was up 31.4% on a year-over-year basis. Research analysts forecast that SharkNinja will post 3.89 EPS for the current year.

Hedge Funds Weigh In On SharkNinja

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC purchased a new position in SharkNinja in the second quarter worth $190,482,000. Jericho Capital Asset Management L.P. purchased a new stake in SharkNinja in the first quarter valued at about $62,309,000. Hood River Capital Management LLC acquired a new stake in SharkNinja in the first quarter worth about $38,290,000. Thrivent Financial for Lutherans grew its stake in shares of SharkNinja by 29.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock worth $127,450,000 after acquiring an additional 380,926 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of SharkNinja by 1,394.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 254,764 shares of the company’s stock valued at $19,146,000 after purchasing an additional 237,718 shares during the last quarter. 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.