Wall Street Zen Upgrades SharkNinja (NYSE:SN) to "Buy"

Key Points

• SharkNinja was upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating increased analyst confidence in the company's stock.
• Several analysts increased their target prices for SharkNinja, with estimates ranging from $112.00 to $175.00, reflecting a generally positive outlook on the firm.
• SharkNinja reported earnings of $0.97 per share for the last quarter, surpassing expectations and demonstrating a year-over-year revenue increase of 15.7%.

Wall Street Zen upgraded shares of SharkNinja (NYSE:SN - Free Report) from a hold rating to a buy rating in a research report report published on Saturday morning.

A number of other equities research analysts also recently commented on 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 research report on Friday, May 9th. Oppenheimer increased their price objective on shares of SharkNinja from $120.00 to $135.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Jefferies Financial Group set a $175.00 target price on shares of SharkNinja in a report on Monday, June 30th. The Goldman Sachs Group upped their target price on shares of SharkNinja from $100.00 to $112.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of SharkNinja from $108.00 to $144.00 and gave the company an "overweight" rating in a report on Friday, July 25th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, SharkNinja currently has a consensus rating of "Moderate Buy" and an average target price of $129.13.

SharkNinja Price Performance

SN traded up $0.95 on Friday, reaching $116.15. 1,888,208 shares of the company's stock were exchanged, compared to its average volume of 1,414,956. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.20. The stock has a market cap of $16.38 billion, a PE ratio of 31.73, a P/E/G ratio of 2.24 and a beta of 1.69. The stock's fifty day moving average price is $103.51 and its 200-day moving average price is $96.36. SharkNinja has a twelve month low of $60.50 and a twelve month high of $128.51.

SharkNinja (NYSE:SN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.38 billion. During the same period in the previous year, the firm earned $0.71 EPS. The business's revenue was up 15.7% on a year-over-year basis. Sell-side analysts expect that SharkNinja will post 4.52 EPS for the current year.

Institutional Trading of SharkNinja

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake 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. raised its position 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 acquired a new position in SharkNinja during the first quarter worth about $36,000. New York State Teachers Retirement System acquired a new position in SharkNinja during the second quarter worth about $43,000. Finally, Quarry LP acquired a new position in SharkNinja during the fourth quarter worth about $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.