SharkNinja (NYSE:SN) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded SharkNinja from “buy” to “hold.” Despite the downgrade, analyst sentiment remains positive overall: 14 analysts rate the stock a Buy, with a consensus price target of $208.32.
• SharkNinja reported quarterly earnings of $2.34 per share, beating the $1.90 estimate, while revenue of $1.98 billion topped expectations and rose 21.2% year over year.
• Shares opened at $223.53, near their 12-month high of $225.68. Insider Neil Shah sold 50,000 shares for about $9.3 million.

SharkNinja (NYSE:SN - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other research analysts also recently issued reports on the stock. Guggenheim upped their target price on shares of SharkNinja from $175.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. UBS Group reissued a "buy" rating and issued a $219.10 price target on shares of SharkNinja in a report on Wednesday, August 12th. William Blair reissued an "outperform" rating on shares of SharkNinja in a research report on Wednesday. The Goldman Sachs Group reissued a "buy" rating and issued a $204.00 price objective on shares of SharkNinja in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group raised their target price on shares of SharkNinja from $185.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $208.32.

SharkNinja Stock Performance

NYSE SN opened at $223.53 on Friday. SharkNinja has a twelve month low of $83.21 and a twelve month high of $225.68. The company has a quick ratio of 1.45, a current ratio of 2.08 and a debt-to-equity ratio of 0.24. The stock has a market cap of $31.49 billion, a P/E ratio of 40.85, a PEG ratio of 2.52 and a beta of 1.21. The company's 50-day simple moving average is $186.03 and its 200 day simple moving average is $145.02.

SharkNinja (NYSE:SN - Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.44. SharkNinja had a net margin of 10.06% and a return on equity of 27.79%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the company earned $1.50 earnings per share. The company's revenue was up 21.2% on a year-over-year basis. As a group, research analysts forecast that SharkNinja will post 5.89 earnings per share for the current fiscal year.

Insider Transactions at SharkNinja

In related news, insider Neil Shah sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $186.36, for a total value of $9,318,000.00. Following the sale, the insider owned 497,220 shares in the company, valued at approximately $92,661,919.20. This trade represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 40.80% of the company's stock.

Institutional Investors Weigh In On SharkNinja

Hedge funds and other institutional investors have recently modified their holdings of the stock. Clearstead Trust LLC bought a new position in shares of SharkNinja during the 2nd quarter valued at about $30,000. IFP Advisors Inc boosted its position in shares of SharkNinja by 108.2% during the third quarter. IFP Advisors Inc now owns 177 shares of the company's stock worth $32,000 after buying an additional 92 shares during the period. Richardson Financial Services Inc. grew its stake in SharkNinja by 36.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 199 shares of the company's stock valued at $36,000 after acquiring an additional 53 shares during the last quarter. Latitude Advisors LLC bought a new stake in SharkNinja during the 3rd quarter valued at $37,000. Finally, Timbuktu Capital Management LLC acquired a new stake in shares of SharkNinja in the second quarter worth $40,000. 34.77% of the stock is currently owned by institutional investors.

SharkNinja Company Profile

SharkNinja, Inc is a global product design and technology company that develops and markets consumer appliances under the Shark and Ninja brands. Its products are designed for everyday household tasks, with an emphasis on convenience, performance and accessible innovation.

The company's portfolio includes vacuum cleaners and floor-care products, air purifiers, cooking appliances, blenders and food-preparation systems, coffee and beverage products, hair-care devices, and other home appliances.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.