SharkNinja (NYSE:SN) Lowered to "Hold" Rating by Zacks Research

Key Points

• SharkNinja was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating, reflecting a changing outlook from analysts.
• Despite the downgrade, some analysts such as Canaccord Genuity and Oppenheimer have set target prices above the current stock price, with Oppenheimer raising its target from $120 to $135.
• The company reported strong earnings recently, with $0.97 EPS for the quarter, exceeding analyst estimates and reflecting a year-over-year revenue increase of 15.7%.

SharkNinja (NYSE:SN - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts also recently weighed in on SN. Canaccord Genuity Group upped their target price on SharkNinja from $127.00 to $136.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Jefferies Financial Group set a $175.00 price objective on shares of SharkNinja in a report on Monday, June 30th. Weiss Ratings cut shares of SharkNinja from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday. Wall Street Zen raised shares of SharkNinja from a "hold" rating to a "buy" rating in a research note on Friday, September 26th. Finally, Oppenheimer raised their price objective on SharkNinja from $120.00 to $135.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $130.71.

SharkNinja Stock Performance

Shares of NYSE SN opened at $91.63 on Tuesday. The company has a market capitalization of $12.93 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 1.74 and a beta of 1.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.20 and a current ratio of 1.94. The company's fifty day moving average price is $112.83 and its 200 day moving average price is $99.35. SharkNinja has a 1 year low of $60.50 and a 1 year high of $128.51.

SharkNinja (NYSE:SN - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.38 billion. During the same period in the prior year, the company posted $0.71 EPS. The company'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. On average, research analysts predict that SharkNinja will post 4.52 earnings per share for the current year.

Hedge Funds Weigh In On SharkNinja

A number of institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of SharkNinja by 77.9% in the 1st quarter. GAMMA Investing LLC now owns 354 shares of the company's stock valued at $30,000 after buying an additional 155 shares during the period. Harbour Investments Inc. increased its stake in SharkNinja by 5,800.0% during the first quarter. Harbour Investments Inc. now owns 413 shares of the company's stock worth $34,000 after acquiring an additional 406 shares during the last quarter. SVB Wealth LLC purchased a new stake in SharkNinja in the first quarter valued at $36,000. New York State Teachers Retirement System purchased a new position in shares of SharkNinja during the 2nd quarter worth $43,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of SharkNinja by 2,071.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 695 shares of the company's stock worth $69,000 after purchasing an additional 663 shares during 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.