JPMorgan Chase & Co. Cuts SharkNinja (NYSE:SN) Price Target to $131.00

Key Points

• JPMorgan Chase & Co. has reduced its price target for SharkNinja from $136.00 to $131.00, while maintaining an "overweight" rating, indicating a potential upside of 43.25% from the stock's current price.
• Despite the price cut from JPMorgan, other firms like Oppenheimer and Canaccord Genuity have recently issued positive ratings, with target prices ranging from $135.00 to $136.00.
• SharkNinja reported a 15.7% year-over-year increase in revenue to $1.44 billion for the quarter, with an EPS of $0.97, surpassing analyst expectations.

SharkNinja (NYSE:SN - Get Free Report) had its price objective cut by research analysts at JPMorgan Chase & Co. from $136.00 to $131.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 43.25% from the stock's current price.

Other analysts also recently issued reports about the stock. Oppenheimer boosted their target price on shares of SharkNinja from $120.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Guggenheim restated a "buy" rating on shares of SharkNinja in a report on Friday, August 8th. Zacks Research lowered shares of SharkNinja from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Canaccord Genuity Group boosted their price target on shares of SharkNinja from $127.00 to $136.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Weiss Ratings lowered shares of SharkNinja from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, SharkNinja presently has an average rating of "Moderate Buy" and an average target price of $130.00.

SharkNinja Stock Up 2.4%

NYSE SN opened at $91.45 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.20. The company's 50 day simple moving average is $112.30 and its 200 day simple moving average is $99.33. SharkNinja has a 12 month low of $60.50 and a 12 month high of $128.51. The company has a market capitalization of $12.91 billion, a P/E ratio of 24.80, a PEG ratio of 1.74 and a beta of 1.56.

SharkNinja (NYSE:SN - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.19. SharkNinja had a net margin of 8.82% and a return on equity of 28.78%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the firm earned $0.71 EPS. The business's revenue for the quarter was up 15.7% on a year-over-year basis. SharkNinja has set its FY 2025 guidance at 5.000-5.100 EPS. Equities research analysts expect that SharkNinja will post 4.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. World Investment Advisors grew its position in SharkNinja by 3.0% during the second quarter. World Investment Advisors now owns 3,312 shares of the company's stock valued at $328,000 after purchasing an additional 98 shares in the last quarter. Forum Financial Management LP grew its position in SharkNinja by 5.3% during the first quarter. Forum Financial Management LP now owns 2,872 shares of the company's stock valued at $240,000 after purchasing an additional 144 shares in the last quarter. GAMMA Investing LLC grew its position in SharkNinja by 77.9% in the first quarter. GAMMA Investing LLC now owns 354 shares of the company's stock worth $30,000 after acquiring an additional 155 shares in the last quarter. Xponance Inc. grew its position in SharkNinja by 5.4% in the first quarter. Xponance Inc. now owns 4,273 shares of the company's stock worth $356,000 after acquiring an additional 220 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in SharkNinja by 6.1% in the second quarter. California State Teachers Retirement System now owns 4,438 shares of the company's stock worth $439,000 after acquiring an additional 257 shares in the last quarter. 34.77% of the stock is 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.

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