SharkNinja (NYSE:SN) Reaches New 52-Week High – Time to Buy?

SharkNinja, Inc. (NYSE:SN)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $113.25 and last traded at $111.96, with a volume of 149199 shares. The stock had previously closed at $111.54.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SN. Jefferies Financial Group upped their target price on shares of SharkNinja from $115.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on SharkNinja from $120.00 to $127.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Guggenheim boosted their target price on SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 7th. Morgan Stanley raised their price target on SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group boosted their price objective on SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $117.28.

SharkNinja Trading Up 0.3 %

The firm has a market capitalization of $15.66 billion, a PE ratio of 43.79, a P/E/G ratio of 1.59 and a beta of 1.10. The business has a 50 day moving average price of $101.55 and a 200-day moving average price of $97.24. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42.

SharkNinja (NYSE:SN) last issued its earnings results on Thursday, October 31st. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.17. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.31 billion. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 EPS. Analysts expect that SharkNinja, Inc. will post 3.89 earnings per share for the current year.

Hedge Funds Weigh In On SharkNinja

Several hedge funds have recently bought and sold shares of SN. FMR LLC grew its holdings in SharkNinja by 47.5% during the 3rd quarter. FMR LLC now owns 10,307,632 shares of the company’s stock valued at $1,120,543,000 after buying an additional 3,321,684 shares during the last quarter. Baillie Gifford & Co. grew its holdings in SharkNinja by 6,408.9% during the 3rd quarter. Baillie Gifford & Co. now owns 1,825,626 shares of the company’s stock valued at $198,464,000 after buying an additional 1,797,578 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in SharkNinja during the 3rd quarter valued at $114,878,000. State Street Corp grew its holdings in SharkNinja by 17.8% during the 3rd quarter. State Street Corp now owns 667,003 shares of the company’s stock valued at $72,510,000 after buying an additional 101,020 shares during the last quarter. Finally, abrdn plc grew its holdings in SharkNinja by 17.8% during the 3rd quarter. abrdn plc now owns 419,660 shares of the company’s stock valued at $45,621,000 after buying an additional 63,299 shares during the last quarter. 34.77% of the stock is owned by hedge funds and other 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.