Analysts Set SharkNinja, Inc. (NYSE:SN) Price Target at $110.85

Shares of SharkNinja, Inc. (NYSE:SN) have received an average recommendation of “Moderate Buy” from the eleven research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $110.85.

SN has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their target price on shares of SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Morgan Stanley raised their price objective on shares of SharkNinja from $80.00 to $93.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Bank of America upped their target price on shares of SharkNinja from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Canaccord Genuity Group raised their price target on SharkNinja from $126.00 to $128.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Oppenheimer began coverage on SharkNinja in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price objective for the company.

Hedge Funds Weigh In On SharkNinja

Several institutional investors have recently added to or reduced their stakes in SN. Signaturefd LLC grew its stake in shares of SharkNinja by 104.6% in the 3rd quarter. Signaturefd LLC now owns 356 shares of the company’s stock worth $39,000 after buying an additional 182 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of SharkNinja in the 3rd quarter valued at about $54,000. Waldron Private Wealth LLC bought a new position in shares of SharkNinja in the 3rd quarter valued at about $65,000. Picton Mahoney Asset Management purchased a new position in SharkNinja in the second quarter worth about $70,000. Finally, Headlands Technologies LLC bought a new stake in SharkNinja during the first quarter worth approximately $66,000. Hedge funds and other institutional investors own 34.77% of the company’s stock.

SharkNinja Trading Up 8.7 %

SharkNinja stock opened at $104.27 on Wednesday. The business has a 50-day simple moving average of $103.64 and a two-hundred day simple moving average of $85.68. SharkNinja has a 52-week low of $41.12 and a 52-week high of $112.93. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 0.42. The company has a market cap of $14.59 billion, a P/E ratio of 40.91, a P/E/G ratio of 1.51 and a beta of 1.04.

SharkNinja (NYSE:SN) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.17. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. SharkNinja’s revenue for the quarter was up 33.3% on a year-over-year basis. Analysts predict that SharkNinja will post 3.9 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.