SharkNinja (NYSE:SN) Upgraded at Zacks Research

Key Points

• Zacks Research has upgraded SharkNinja's stock rating from "hold" to "strong-buy," indicating increased confidence in the company's future performance.
• Several analysts, including Goldman Sachs and JPMorgan Chase, have raised their target prices for SharkNinja, suggesting a positive outlook for the company with varying price targets between $112.00 and $144.00.
• SharkNinja reported earnings of $0.97 per share in its latest quarterly results, surpassing expectations and demonstrating a 15.7% year-over-year revenue growth to $1.44 billion.

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

SN has been the subject of several other reports. The Goldman Sachs Group boosted their target price on shares of SharkNinja from $100.00 to $112.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Oppenheimer upped their price objective on shares of SharkNinja from $120.00 to $135.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Wall Street Zen lowered shares of SharkNinja from a "buy" rating to a "hold" rating in a research note on Sunday, August 17th. JPMorgan Chase & Co. raised their target price on SharkNinja from $108.00 to $144.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, Canaccord Genuity Group increased their target price on SharkNinja from $127.00 to $136.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $131.86.

SharkNinja Stock Performance

Shares of SN stock opened at $115.7260 on Wednesday. SharkNinja has a 52-week low of $60.50 and a 52-week high of $128.51. 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 stock has a market cap of $16.32 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 2.27 and a beta of 1.69. The business has a 50-day simple moving average of $108.78 and a 200-day simple moving average of $97.01.

SharkNinja (NYSE:SN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.97 earnings per share for the quarter, beating 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 company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period last year, the business earned $0.71 earnings per share. SharkNinja's quarterly revenue 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, equities analysts expect that SharkNinja will post 4.52 EPS for the current year.

Institutional Investors Weigh In On SharkNinja

Several hedge funds and other institutional investors have recently made changes to their positions in SN. GAMMA Investing LLC boosted its stake in SharkNinja by 77.9% during the first quarter. GAMMA Investing LLC now owns 354 shares of the company's stock worth $30,000 after buying an additional 155 shares during the last quarter. Harbour Investments Inc. increased its stake in shares of SharkNinja by 5,800.0% in the 1st 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. New York State Teachers Retirement System purchased a new position in shares of SharkNinja during the 2nd quarter worth $43,000. SVB Wealth LLC acquired a new position in shares of SharkNinja during the 1st quarter valued at about $36,000. Finally, Quarry LP acquired a new position in shares of SharkNinja during the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 34.77% of the company's stock.

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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