SharkNinja (NYSE:SN) Reaches New 1-Year High After Analyst Upgrade

SharkNinja, Inc. (NYSE:SN) shares reached a new 52-week high during mid-day trading on Thursday after Morgan Stanley raised their price target on the stock from $93.00 to $108.00. Morgan Stanley currently has an equal weight rating on the stock. SharkNinja traded as high as $116.00 and last traded at $117.33, with a volume of 107567 shares changing hands. The stock had previously closed at $110.65.

A number of other brokerages have also issued reports on SN. The Goldman Sachs Group boosted their target price on shares of SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. boosted their price objective on shares of SharkNinja from $120.00 to $127.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Canaccord Genuity Group raised their target price on shares of SharkNinja from $129.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Jefferies Financial Group boosted their price target on SharkNinja from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $122.50.

Hedge Funds Weigh In On SharkNinja

Several institutional investors have recently bought and sold shares of SN. Signaturefd LLC lifted its position in shares of SharkNinja by 104.6% during the third quarter. Signaturefd LLC now owns 356 shares of the company’s stock valued at $39,000 after buying an additional 182 shares during the last quarter. Quarry LP purchased a new stake in SharkNinja during the fourth quarter valued at approximately $47,000. Hollencrest Capital Management purchased a new position in SharkNinja in the third quarter worth $54,000. Safe Harbor Fiduciary LLC purchased a new position in SharkNinja in the third quarter worth $54,000. Finally, R Squared Ltd purchased a new stake in shares of SharkNinja during the 4th quarter valued at $55,000. 34.77% of the stock is owned by hedge funds and other institutional investors.

SharkNinja Stock Performance

The firm has a fifty day moving average price of $104.88 and a 200 day moving average price of $100.68. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.67. The stock has a market cap of $15.44 billion, a PE ratio of 43.26, a price-to-earnings-growth ratio of 1.74 and a beta of 1.13.

SharkNinja (NYSE:SN) last announced its earnings results on Thursday, February 13th. The company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.06). SharkNinja had a net margin of 7.02% and a return on equity of 32.55%. Research analysts forecast that SharkNinja, Inc. will post 3.91 earnings per share for the current fiscal 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.