Canaccord Genuity Group Issues Positive Forecast for SharkNinja (NYSE:SN) Stock Price

SharkNinja (NYSE:SN - Get Free Report) had its price target hoisted by Canaccord Genuity Group from $127.00 to $136.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective would suggest a potential upside of 17.99% from the company's previous close.

Several other brokerages have also commented on SN. Oppenheimer raised their price objective on SharkNinja from $105.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, May 9th. JPMorgan Chase & Co. dropped their price objective on SharkNinja from $139.00 to $98.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Jefferies Financial Group set a $175.00 price objective on SharkNinja in a report on Monday, June 30th. Morgan Stanley raised their price objective on SharkNinja from $85.00 to $101.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Finally, The Goldman Sachs Group raised their price objective on SharkNinja from $100.00 to $112.00 and gave the company a "buy" rating in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $121.50.

SharkNinja Stock Performance

Shares of SN stock traded up $0.30 during mid-day trading on Thursday, reaching $115.26. The stock had a trading volume of 972,923 shares, compared to its average volume of 1,547,559. The business's fifty day moving average is $97.70 and its 200-day moving average is $95.29. The company has a current ratio of 1.97, a quick ratio of 1.17 and a debt-to-equity ratio of 0.36. The firm has a market cap of $16.26 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 2.22 and a beta of 1.66. SharkNinja has a 1-year low of $60.50 and a 1-year high of $123.00.

SharkNinja (NYSE:SN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.14. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. SharkNinja had a return on equity of 28.89% and a net margin of 7.86%. The company's revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.06 earnings per share. On average, research analysts forecast that SharkNinja will post 4.52 earnings per share for the current year.

Institutional Investors Weigh In On SharkNinja

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its position in SharkNinja by 59.8% in the fourth quarter. FMR LLC now owns 16,467,858 shares of the company's stock valued at $1,603,311,000 after purchasing an additional 6,160,226 shares during the period. Palestra Capital Management LLC raised its holdings in shares of SharkNinja by 83.4% in the 4th quarter. Palestra Capital Management LLC now owns 1,780,785 shares of the company's stock valued at $173,377,000 after buying an additional 809,960 shares during the period. Federated Hermes Inc. raised its holdings in shares of SharkNinja by 14.7% in the 1st quarter. Federated Hermes Inc. now owns 1,305,771 shares of the company's stock valued at $108,914,000 after buying an additional 167,757 shares during the period. Alua Capital Management LP raised its holdings in shares of SharkNinja by 21.8% in the 1st quarter. Alua Capital Management LP now owns 1,269,433 shares of the company's stock valued at $105,883,000 after buying an additional 226,944 shares during the period. Finally, Hood River Capital Management LLC raised its holdings in shares of SharkNinja by 30.1% in the 4th quarter. Hood River Capital Management LLC now owns 1,048,390 shares of the company's stock valued at $102,071,000 after buying an additional 242,723 shares during the period. Hedge funds and other institutional investors own 34.77% of the company's stock.

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.