SharkNinja (NYSE:SN) Trading Down 5.1% After Analyst Downgrade

Key Points

• SharkNinja's stock price fell by 5.1% after JPMorgan Chase & Co. downgraded its price target from $142.00 to $136.00, though they maintain an overweight rating.
• Despite recent downgrades, SharkNinja has received multiple ratings upgrades, including a new "buy" rating from Wall Street Zen, with a consensus rating of "Buy" and an average target price of $130.71.
• In its latest earnings report, SharkNinja exceeded analysts' expectations with a net revenue of $1.44 billion and earnings per share of $0.97, marking a 15.7% increase from the previous year.

SharkNinja, Inc. (NYSE:SN - Get Free Report) traded down 5.1% on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $142.00 to $136.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. SharkNinja traded as low as $100.00 and last traded at $100.77. 205,547 shares changed hands during trading, a decline of 87% from the average session volume of 1,598,124 shares. The stock had previously closed at $106.22.

Several other equities research analysts have also recently weighed in on the stock. Canaccord Genuity Group increased their target price on shares of SharkNinja from $127.00 to $136.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Guggenheim reaffirmed a "buy" rating on shares of SharkNinja in a report on Friday, August 8th. Jefferies Financial Group set a $175.00 price objective on SharkNinja in a research report on Monday, June 30th. Oppenheimer lifted their price target on SharkNinja from $120.00 to $135.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Finally, Wall Street Zen raised shares of SharkNinja from a "hold" rating to a "buy" rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, SharkNinja currently has a consensus rating of "Buy" and an average target price of $130.71.

Hedge Funds Weigh In On SharkNinja

Several hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of SharkNinja by 77.9% during the 1st quarter. GAMMA Investing LLC now owns 354 shares of the company's stock worth $30,000 after buying an additional 155 shares during the period. Harbour Investments Inc. increased its stake in 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 in the last quarter. New York State Teachers Retirement System acquired a new stake in SharkNinja in the second quarter worth $43,000. SVB Wealth LLC bought a new position in shares of SharkNinja during the first quarter worth $36,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of SharkNinja by 2,071.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 695 shares of the company's stock valued at $69,000 after buying an additional 663 shares during the period. Institutional investors and hedge funds own 34.77% of the company's stock.

SharkNinja Stock Performance

The firm has a market cap of $14.13 billion, a P/E ratio of 27.39, a PEG ratio of 2.01 and a beta of 1.68. 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 stock's 50-day moving average is $115.86 and its 200 day moving average is $99.09.

SharkNinja (NYSE:SN - Get Free Report) last posted 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 firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the company posted $0.71 earnings per share. 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, Inc. will post 4.52 earnings per share for the current year.

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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