SharkNinja (NYSE:SN) Cut to Hold at Wall Street Zen

Key Points

• SharkNinja has been downgraded from a "buy" to a "hold" rating by Wall Street Zen analysts, indicating a shift in investor sentiment.
• Despite the downgrade, some analysts like Oppenheimer and JPMorgan Chase & Co. have raised their price targets for SharkNinja's stock, suggesting continued interest in its potential.
• The company reported $1.44 billion in revenue for the last quarter, surpassing analyst expectations and showing a strong year-over-year growth of 15.7%.

SharkNinja (NYSE:SN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday.

Several other equities research analysts have also weighed in on the company. Oppenheimer raised their target price on SharkNinja from $120.00 to $135.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Guggenheim reissued a "buy" rating on shares of SharkNinja in a research report on Friday, August 8th. JPMorgan Chase & Co. lifted their price target on SharkNinja from $108.00 to $144.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Canaccord Genuity Group lifted their price target on SharkNinja from $127.00 to $136.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley lifted their price target on SharkNinja from $85.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $131.86.

SharkNinja Price Performance

Shares of NYSE SN opened at $119.12 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.20 and a current ratio of 1.94. SharkNinja has a fifty-two week low of $60.50 and a fifty-two week high of $128.51. The firm has a market capitalization of $16.80 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 2.34 and a beta of 1.69. The stock's 50-day simple moving average is $106.40 and its 200-day simple moving average is $96.71.

SharkNinja (NYSE:SN - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.19. SharkNinja had a return on equity of 28.78% and a net margin of 8.82%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the company earned $0.71 EPS. The business's quarterly revenue was up 15.7% on a year-over-year basis. As a group, equities research analysts forecast that SharkNinja will post 4.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of SharkNinja by 77.9% in the first quarter. GAMMA Investing LLC now owns 354 shares of the company's stock valued at $30,000 after purchasing an additional 155 shares during the period. Harbour Investments Inc. increased its holdings in shares of SharkNinja by 5,800.0% in the first quarter. Harbour Investments Inc. now owns 413 shares of the company's stock valued at $34,000 after purchasing an additional 406 shares during the period. New York State Teachers Retirement System acquired a new position in shares of SharkNinja in the second quarter valued at approximately $43,000. SVB Wealth LLC acquired a new position in shares of SharkNinja in the first quarter valued at approximately $36,000. Finally, Quarry LP acquired a new position in shares of SharkNinja in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds 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.

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