SharkNinja (NYSE:SN) Shares Gap Up Following Strong Earnings

Shares of SharkNinja, Inc. (NYSE:SN) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $81.19, but opened at $89.40. SharkNinja shares last traded at $90.41, with a volume of 1,123,112 shares trading hands.

The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.14. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. SharkNinja had a net margin of 7.94% and a return on equity of 32.51%. The business’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SN. JPMorgan Chase & Co. dropped their price objective on SharkNinja from $139.00 to $98.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Canaccord Genuity Group lifted their target price on SharkNinja from $129.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Guggenheim reduced their price target on shares of SharkNinja from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday. Jefferies Financial Group lifted their price objective on shares of SharkNinja from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Morgan Stanley increased their target price on shares of SharkNinja from $85.00 to $101.00 and gave the stock an “equal weight” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.28.

Institutional Investors Weigh In On SharkNinja

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its holdings in SharkNinja by 59.8% in the fourth quarter. FMR LLC now owns 16,467,858 shares of the company’s stock valued at $1,603,311,000 after buying an additional 6,160,226 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of SharkNinja by 42.9% in the 4th quarter. HighTower Advisors LLC now owns 7,179,756 shares of the company’s stock valued at $699,021,000 after acquiring an additional 2,155,136 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of SharkNinja by 26.4% during the 4th quarter. William Blair Investment Management LLC now owns 2,827,340 shares of the company’s stock worth $275,270,000 after acquiring an additional 590,632 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of SharkNinja by 33.1% during the 4th quarter. Baillie Gifford & Co. now owns 2,430,185 shares of the company’s stock worth $236,603,000 after acquiring an additional 604,559 shares in the last quarter. Finally, Palestra Capital Management LLC lifted its stake in SharkNinja by 83.4% during the fourth quarter. Palestra Capital Management LLC now owns 1,780,785 shares of the company’s stock worth $173,377,000 after purchasing an additional 809,960 shares during the last quarter. 34.77% of the stock is currently owned by institutional investors and hedge funds.

SharkNinja Price Performance

The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of 29.66, a P/E/G ratio of 2.35 and a beta of 1.68. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average of $81.92 and a 200-day moving average of $96.04.

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.