SharkNinja, Inc. (NYSE:SN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of SharkNinja, Inc. (NYSE:SN) have earned an average rating of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $116.39.

SN has been the subject of several analyst reports. Oppenheimer assumed coverage on shares of SharkNinja in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price objective for the company. Guggenheim upped their price target on SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. The Goldman Sachs Group raised their price objective on SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Canaccord Genuity Group upped their target price on SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group lifted their price target on shares of SharkNinja from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd.

Institutional Investors Weigh In On SharkNinja

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake 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 period. HB Wealth Management LLC acquired a new stake in shares of SharkNinja during the 2nd quarter worth about $601,000. Principal Financial Group Inc. bought a new position in SharkNinja during the 2nd quarter valued at about $382,000. Azzad Asset Management Inc. ADV acquired a new position in SharkNinja in the second quarter valued at about $2,085,000. Finally, Maryland State Retirement & Pension System acquired a new stake in shares of SharkNinja during the second quarter worth approximately $387,000. 34.77% of the stock is owned by institutional investors and hedge funds.

SharkNinja Stock Performance

Shares of NYSE SN opened at $97.90 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.67 and a quick ratio of 0.95. SharkNinja has a one year low of $45.85 and a one year high of $112.93. The business’s 50-day moving average price is $100.81 and its two-hundred day moving average price is $92.59. The company has a market capitalization of $13.70 billion, a P/E ratio of 38.39, a price-to-earnings-growth ratio of 1.65 and a beta of 1.01.

SharkNinja (NYSE:SN) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.17. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.31 billion. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. The firm’s revenue was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 earnings per share. Analysts anticipate that SharkNinja will post 3.88 earnings per share for the current fiscal 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.