SharkNinja (NYSE:SN) Sets New 52-Week Low – Time to Sell?

SharkNinja, Inc. (NYSE:SN)’s share price reached a new 52-week low on Friday . The stock traded as low as $60.50 and last traded at $71.21, with a volume of 1409739 shares traded. The stock had previously closed at $69.49.

Wall Street Analysts Forecast Growth

SN has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of SharkNinja from $93.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. raised their target price on SharkNinja from $120.00 to $127.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Jefferies Financial Group upped their price target on SharkNinja from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group raised their price objective on SharkNinja from $129.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, SharkNinja has a consensus rating of “Moderate Buy” and an average price target of $122.50.

SharkNinja Stock Performance

The firm has a 50-day simple moving average of $98.77 and a two-hundred day simple moving average of $101.54. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $9.81 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 2.35 and a beta of 1.24.

SharkNinja (NYSE:SN) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.06). The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.61 billion. SharkNinja had a return on equity of 32.51% and a net margin of 7.94%. As a group, sell-side analysts forecast that SharkNinja, Inc. will post 4.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SharkNinja

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its holdings in SharkNinja by 17.8% during the third 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 in the last quarter. Tidal Investments LLC increased its holdings in shares of SharkNinja by 38.7% during the 3rd quarter. Tidal Investments LLC now owns 19,397 shares of the company’s stock valued at $2,109,000 after acquiring an additional 5,416 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of SharkNinja in the 3rd quarter valued at approximately $5,832,000. Harbor Capital Advisors Inc. lifted its holdings in SharkNinja by 30.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 117,403 shares of the company’s stock worth $11,430,000 after purchasing an additional 27,436 shares during the last quarter. Finally, Cannell & Spears LLC bought a new stake in SharkNinja during the fourth quarter worth approximately $18,125,000. 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.