SharkNinja (NYSE:SN) Stock Price Expected to Rise, Morgan Stanley Analyst Says

SharkNinja (NYSE:SN) had its target price upped by Morgan Stanley from $93.00 to $108.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential downside of 2.11% from the stock’s current price.

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

SharkNinja Price Performance

SN stock opened at $110.32 on Friday. 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. The stock has a 50-day moving average price of $104.88 and a two-hundred day moving average price of $100.85. SharkNinja has a 1 year low of $49.86 and a 1 year high of $123.00. 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 quarterly earnings results on Thursday, February 13th. The company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.06). The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. Equities analysts forecast that SharkNinja will post 3.91 EPS for the current fiscal year.

Institutional Trading of SharkNinja

Several hedge funds have recently added to or reduced their stakes in SN. FMR LLC grew its holdings in SharkNinja by 59.8% in the 4th quarter. FMR LLC now owns 16,467,858 shares of the company’s stock valued at $1,603,311,000 after buying an additional 6,160,226 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of SharkNinja by 42.9% during the fourth quarter. HighTower Advisors LLC now owns 7,179,756 shares of the company’s stock worth $699,021,000 after purchasing an additional 2,155,136 shares during the period. William Blair Investment Management LLC raised its position in shares of SharkNinja by 26.4% in the fourth quarter. William Blair Investment Management LLC now owns 2,827,340 shares of the company’s stock valued at $275,270,000 after buying an additional 590,632 shares in the last quarter. Baillie Gifford & Co. grew its position in SharkNinja by 33.1% during the fourth quarter. Baillie Gifford & Co. now owns 2,430,185 shares of the company’s stock worth $236,603,000 after buying an additional 604,559 shares in the last quarter. Finally, Palestra Capital Management LLC increased its stake in SharkNinja by 83.4% during the 4th quarter. Palestra Capital Management LLC now owns 1,780,785 shares of the company’s stock worth $173,377,000 after acquiring an additional 809,960 shares during the period. 34.77% of the stock is owned by institutional investors and hedge funds.

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.