SharkNinja (NYSE:SN) Shares Gap Up - Should You Buy?

Key Points

• SharkNinja's stock price opened at $92.86, up from a previous close of $89.30, indicating a significant market interest with a trading volume of 407,292 shares.
• Analysts have mixed views, with Canaccord Genuity increasing their target price to $136 while Zacks downgraded the stock from "strong buy" to "hold"; the average consensus target price across analysts is set at $130.
• In its latest quarterly report, SharkNinja reported earnings per share of $0.97, surpassing expectations, and experienced a revenue increase of 15.7% year-over-year, amounting to $1.44 billion.

SharkNinja, Inc. (NYSE:SN - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $89.30, but opened at $92.86. SharkNinja shares last traded at $92.48, with a volume of 407,292 shares changing hands.

Wall Street Analysts Forecast Growth

SN has been the subject of a number of research reports. Zacks Research downgraded SharkNinja from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Canaccord Genuity Group boosted their price target on SharkNinja from $127.00 to $136.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Guggenheim reissued a "buy" rating on shares of SharkNinja in a research report on Friday, August 8th. Jefferies Financial Group set a $175.00 target price on SharkNinja in a research report on Monday, June 30th. Finally, JPMorgan Chase & Co. decreased their target price on SharkNinja from $136.00 to $131.00 and set an "overweight" rating for the company in a research report on Friday. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $130.00.

SharkNinja Stock Performance

The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average of $112.30 and a 200 day moving average of $99.33. The firm has a market cap of $12.79 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.74 and a beta of 1.56.

SharkNinja (NYSE:SN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.97 EPS 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 analysts' expectations of $1.38 billion. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The company's revenue was up 15.7% compared to the same quarter last year. SharkNinja has set its FY 2025 guidance at 5.000-5.100 EPS. As a group, equities research analysts expect that SharkNinja, Inc. will post 4.52 EPS for the current fiscal year.

Hedge Funds Weigh In On SharkNinja

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SN. WCM Investment Management LLC boosted its stake in SharkNinja by 27.1% during the 1st quarter. WCM Investment Management LLC now owns 221,766 shares of the company's stock valued at $18,633,000 after purchasing an additional 47,339 shares in the last quarter. Encompass More Asset Management boosted its stake in SharkNinja by 39.3% during the 1st quarter. Encompass More Asset Management now owns 7,836 shares of the company's stock valued at $654,000 after purchasing an additional 2,209 shares in the last quarter. GAMMA Investing LLC boosted its stake in SharkNinja by 77.9% during the 1st quarter. GAMMA Investing LLC now owns 354 shares of the company's stock valued at $30,000 after purchasing an additional 155 shares in the last quarter. Lisanti Capital Growth LLC bought a new position in SharkNinja during the 1st quarter valued at $350,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in SharkNinja by 504.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,502 shares of the company's stock valued at $209,000 after purchasing an additional 2,088 shares in the last quarter. 34.77% of the stock is owned by 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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