SharkNinja (NYSE:SN) Given New $135.00 Price Target at Oppenheimer

Key Points

• Oppenheimer has raised its price target for SharkNinja (NYSE:SN) from $120.00 to $135.00, indicating a potential upside of 11.86% from the stock's previous close.
• Despite various price target adjustments, SharkNinja has a consensus rating of "Moderate Buy" among analysts, with an average price target of $129.13.
• SharkNinja's recent quarterly earnings report showed an EPS of $0.87, surpassing analyst expectations and reflecting a 14.7% increase in revenue year-over-year.

SharkNinja (NYSE:SN - Get Free Report) had its price target upped by equities researchers at Oppenheimer from $120.00 to $135.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's price target indicates a potential upside of 11.86% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. Guggenheim dropped their price objective on shares of SharkNinja from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Jefferies Financial Group set a $175.00 price target on shares of SharkNinja in a research report on Monday, June 30th. JPMorgan Chase & Co. raised their price target on shares of SharkNinja from $108.00 to $144.00 and gave the company an "overweight" rating in a research report on Friday. The Goldman Sachs Group raised their price target on shares of SharkNinja from $100.00 to $112.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, Canaccord Genuity Group raised their price target on shares of SharkNinja from $127.00 to $136.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $129.13.

SharkNinja Trading Up 0.3%

NYSE:SN traded up $0.35 during trading hours on Monday, hitting $120.69. 141,586 shares of the company were exchanged, compared to its average volume of 1,664,828. The stock has a market capitalization of $17.02 billion, a price-to-earnings ratio of 38.22, a price-to-earnings-growth ratio of 2.32 and a beta of 1.66. The company has a current ratio of 1.97, a quick ratio of 1.17 and a debt-to-equity ratio of 0.36. SharkNinja has a one year low of $60.50 and a one year high of $123.00. The company has a fifty day simple moving average of $99.42 and a 200 day simple moving average of $95.84.

SharkNinja (NYSE:SN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.14. SharkNinja had a net margin of 7.86% and a return on equity of 28.89%. The business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The business's quarterly revenue was up 14.7% compared to the same quarter last year. Sell-side analysts expect that SharkNinja will post 4.52 EPS for the current fiscal year.

Institutional Trading of SharkNinja

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its position in shares of 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 acquiring an additional 6,160,226 shares during the period. Norges Bank purchased a new stake in shares of SharkNinja in the 4th quarter worth about $100,845,000. Palestra Capital Management LLC grew its position 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 worth $173,377,000 after buying an additional 809,960 shares during the period. Greenvale Capital LLP purchased a new stake in shares of SharkNinja in the 4th quarter worth about $73,020,000. Finally, Third Point LLC purchased a new stake in shares of SharkNinja in the 1st quarter worth about $45,876,000. 34.77% of the stock is currently owned by hedge funds and other institutional investors.

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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