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

Shares of SharkNinja, Inc. (NYSE:SN) reached a new 52-week high during mid-day trading 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.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SN. Morgan Stanley raised their price objective on SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Canaccord Genuity Group increased their target price on SharkNinja from $128.00 to $129.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group increased their target price on SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Oppenheimer started coverage on SharkNinja in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 target price on the stock. Finally, JPMorgan Chase & Co. increased 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. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, SharkNinja currently has an average rating of “Moderate Buy” and an average price target of $117.28.

SharkNinja Stock Up 0.3 %

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

SharkNinja (NYSE:SN) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.04 by $0.17. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the company posted $0.95 earnings per share. The firm’s revenue was up 33.3% compared to the same quarter last year. On average, research analysts predict that SharkNinja, Inc. will post 3.89 EPS for the current fiscal year.

Institutional Trading of SharkNinja

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC grew its stake in SharkNinja by 104.6% in the third quarter. Signaturefd LLC now owns 356 shares of the company’s stock worth $39,000 after purchasing an additional 182 shares in the last quarter. Hollencrest Capital Management acquired a new position in SharkNinja in the third quarter worth about $54,000. Safe Harbor Fiduciary LLC acquired a new position in SharkNinja in the third quarter worth about $54,000. R Squared Ltd acquired a new position in SharkNinja in the fourth quarter worth about $55,000. Finally, Waldron Private Wealth LLC acquired a new position in SharkNinja in the third quarter worth about $65,000. 34.77% of the stock is owned by hedge funds and other institutional investors.

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.