SharkNinja (NYSE:SN) Reaches New 12-Month High After Analyst Upgrade

SharkNinja, Inc. (NYSE:SN)’s stock price hit a new 52-week high during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $97.00 to $128.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. SharkNinja traded as high as $108.99 and last traded at $108.76, with a volume of 165637 shares. The stock had previously closed at $106.00.

A number of other equities research analysts also recently weighed in on SN. Canaccord Genuity Group raised their target price on SharkNinja from $82.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Bank of America raised their target price on SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, The Goldman Sachs Group raised their target price on SharkNinja from $83.00 to $102.00 and gave the company a “buy” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.28.

Institutional Investors Weigh In On SharkNinja

Several hedge funds have recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in shares of SharkNinja by 9.4% during the 1st quarter. SG Americas Securities LLC now owns 4,418 shares of the company’s stock valued at $275,000 after acquiring an additional 380 shares in the last quarter. Parallel Advisors LLC acquired a new stake in shares of SharkNinja during the 4th quarter valued at $37,000. Picton Mahoney Asset Management acquired a new stake in shares of SharkNinja during the 2nd quarter valued at $70,000. Headlands Technologies LLC acquired a new stake in shares of SharkNinja during the 1st quarter valued at $66,000. Finally, Kessler Investment Group LLC acquired a new stake in shares of SharkNinja during the 2nd quarter valued at $125,000. Institutional investors and hedge funds own 34.77% of the company’s stock.

SharkNinja Stock Performance

The company has a market cap of $15.11 billion, a price-to-earnings ratio of 79.96, a P/E/G ratio of 1.55 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.71. The company has a fifty day moving average of $91.97 and a two-hundred day moving average of $77.78.

SharkNinja (NYSE:SN) last announced its earnings results on Thursday, August 8th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.14. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.08 billion. SharkNinja had a return on equity of 32.29% and a net margin of 5.16%. SharkNinja’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same period last year, the company earned $0.46 EPS. Equities research analysts anticipate that SharkNinja, Inc. will post 3.89 EPS for the current year.

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.