SharkNinja (NYSE:SN) Stock Gets Price Target Bump from Guggenheim

Key Points

• Guggenheim raised its SharkNinja price target from $210 to $250 and maintained a Buy rating, implying about 10.1% upside from the prior close.
• Analyst sentiment is broadly positive: MarketBeat reports an average Buy rating and an average price target of $211.39, though Wall Street Zen downgraded the stock to Hold.
• SharkNinja reported quarterly EPS of $2.34, beating the $1.90 consensus, while revenue rose 21.2% year over year to $1.98 billion; shares gained 1.9% to $227.12 on Monday.

SharkNinja (NYSE:SN - Get Free Report) had its target price boosted by Guggenheim from $210.00 to $250.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Guggenheim's price target suggests a potential upside of 10.07% from the stock's previous close.

A number of other analysts have also issued reports on SN. Wall Street Zen lowered SharkNinja from a "buy" rating to a "hold" rating in a research note on Saturday. Jefferies Financial Group reaffirmed a "buy" rating and set a $300.00 price objective on shares of SharkNinja in a report on Wednesday. William Blair reaffirmed an "outperform" rating on shares of SharkNinja in a research note on Wednesday. UBS Group reaffirmed a "buy" rating and set a $219.10 price objective on shares of SharkNinja in a research note on Wednesday, August 12th. Finally, Oppenheimer raised their price target on shares of SharkNinja from $145.00 to $170.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. Fourteen analysts have rated the stock with a Buy rating. According to data from MarketBeat, SharkNinja has an average rating of "Buy" and an average price target of $211.39.

SharkNinja Stock Up 1.9%

Shares of SharkNinja stock traded up $4.17 on Monday, hitting $227.12. The company had a trading volume of 386,848 shares, compared to its average volume of 1,811,871. The stock has a market capitalization of $32.00 billion, a price-to-earnings ratio of 38.17, a P/E/G ratio of 2.44 and a beta of 1.20. The stock has a 50 day moving average of $186.03 and a 200-day moving average of $145.02. SharkNinja has a 1 year low of $83.21 and a 1 year high of $230.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.39 and a current ratio of 2.04.

SharkNinja (NYSE:SN - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.44. SharkNinja had a return on equity of 28.84% and a net margin of 11.64%. The business had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same period last year, the business earned $1.50 EPS. The business's revenue was up 21.2% on a year-over-year basis. As a group, sell-side analysts forecast that SharkNinja will post 5.93 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clearstead Trust LLC bought a new stake in shares of SharkNinja in the 2nd quarter worth about $30,000. IFP Advisors Inc boosted its position in SharkNinja by 108.2% during the 3rd quarter. IFP Advisors Inc now owns 177 shares of the company's stock valued at $32,000 after purchasing an additional 92 shares during the period. Richardson Financial Services Inc. grew its position in shares of SharkNinja by 36.3% during the third quarter. Richardson Financial Services Inc. now owns 199 shares of the company's stock worth $36,000 after acquiring an additional 53 shares during the last quarter. Latitude Advisors LLC bought a new position in SharkNinja in the 3rd quarter worth approximately $37,000. Finally, Timbuktu Capital Management LLC bought a new position 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 is a global product design and technology company that develops and markets household appliances under its Shark and Ninja brands. Its products are designed for everyday home use and are sold through retail and online channels.

The Shark brand is known for floor-care and cleaning products, including vacuums and floor cleaners, as well as home-environment and beauty products. Ninja focuses on kitchen appliances and food-preparation products, such as air fryers, blenders, multicookers, and coffee makers.

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