SharkNinja (NYSE:SN) Sets New 12-Month High on Analyst Upgrade

SharkNinja, Inc. (NYSE:SN)’s share price hit a new 52-week high during trading on Thursday after Morgan Stanley raised their price target on the stock from $93.00 to $108.00. Morgan Stanley currently has an equal weight rating on the stock. SharkNinja traded as high as $116.00 and last traded at $117.33, with a volume of 107567 shares trading hands. The stock had previously closed at $110.65.

A number of other brokerages have also commented on SN. JPMorgan Chase & Co. boosted their target price on SharkNinja from $120.00 to $127.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Jefferies Financial Group boosted their price objective on SharkNinja from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday. Canaccord Genuity Group increased their target price on SharkNinja from $129.00 to $136.00 and gave the stock a “buy” rating in a report on Friday. Finally, The Goldman Sachs Group boosted their price target on shares of SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, SharkNinja has an average rating of “Moderate Buy” and an average price target of $122.50.

Institutional Investors Weigh In On SharkNinja

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its position in SharkNinja by 59.8% during 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 period. HighTower Advisors LLC grew its position in shares of SharkNinja by 42.9% during 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 period. Baillie Gifford & Co. increased its stake in shares of SharkNinja by 6,408.9% during the 3rd quarter. Baillie Gifford & Co. now owns 1,825,626 shares of the company’s stock worth $198,464,000 after purchasing an additional 1,797,578 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of SharkNinja in the 3rd quarter worth approximately $114,878,000. Finally, Norges Bank purchased a new position in SharkNinja in the fourth quarter valued at approximately $100,845,000. Hedge funds and other institutional investors own 34.77% of the company’s stock.

SharkNinja Trading Down 3.6 %

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 firm has a 50 day moving average of $104.88 and a 200 day moving average of $100.68. The firm has a market cap of $15.44 billion, a PE ratio of 43.26, a P/E/G ratio of 1.74 and a beta of 1.13.

SharkNinja (NYSE:SN) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.06). SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. Equities analysts anticipate that SharkNinja, Inc. will post 3.91 earnings per share for the current year.

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.