Oppenheimer Begins Coverage on SharkNinja (NYSE:SN)

Oppenheimer assumed coverage on shares of SharkNinja (NYSE:SN) in a research note released on Tuesday, MarketBeat reports. The brokerage issued an outperform rating and a $120.00 price target on the stock.

SN has been the subject of several other research reports. Bank of America lifted their price target on SharkNinja from $100.00 to $110.00 and gave the company a buy rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. increased their target price on SharkNinja from $97.00 to $128.00 and gave the stock an overweight rating in a research report on Monday, September 30th. Canaccord Genuity Group boosted their price target on SharkNinja from $82.00 to $90.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group raised their price target on shares of SharkNinja from $83.00 to $102.00 and gave the company a buy rating in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $91.28.

SharkNinja Trading Up 0.7 %

Shares of SN stock opened at $109.76 on Tuesday. The company has a market capitalization of $15.36 billion, a price-to-earnings ratio of 81.30, a PEG ratio of 1.55 and a beta of 0.77. The company has a current ratio of 1.71, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $94.18 and a 200 day moving average price of $78.56. SharkNinja has a twelve month low of $38.69 and a twelve month high of $110.96.

SharkNinja (NYSE:SN) last released its earnings results on Thursday, August 8th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.57 by $0.14. SharkNinja had a net margin of 5.16% and a return on equity of 32.29%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company earned $0.46 EPS. SharkNinja’s revenue for the quarter was up 31.4% on a year-over-year basis. Research analysts forecast that SharkNinja will post 3.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SN. Parallel Advisors LLC purchased a new stake in SharkNinja during the 4th quarter worth approximately $37,000. Headlands Technologies LLC bought a new position in shares of SharkNinja during the first quarter worth about $66,000. Picton Mahoney Asset Management acquired a new position in SharkNinja in the second quarter worth about $70,000. Kessler Investment Group LLC bought a new stake in SharkNinja in the second quarter valued at about $125,000. Finally, Essex LLC acquired a new stake in SharkNinja during the first quarter valued at approximately $204,000. 34.77% of the stock is currently owned by hedge funds and other institutional investors.

About SharkNinja

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.