JPMorgan Chase & Co. Has Lowered Expectations for SharkNinja (NYSE:SN) Stock Price

SharkNinja (NYSE:SN) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $139.00 to $98.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 33.25% from the stock’s previous close.

A number of other brokerages have also issued reports on SN. Jefferies Financial Group boosted their price target on shares of SharkNinja from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Canaccord Genuity Group lifted their price objective on SharkNinja from $129.00 to $136.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Morgan Stanley increased their target price on SharkNinja from $93.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SharkNinja has a consensus rating of “Moderate Buy” and a consensus price target of $119.28.

SharkNinja Stock Up 1.0 %

SharkNinja stock opened at $73.55 on Friday. The stock has a 50 day moving average of $93.27 and a two-hundred day moving average of $99.94. SharkNinja has a twelve month low of $60.50 and a twelve month high of $123.00. The stock has a market capitalization of $10.32 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 2.35 and a beta of 1.65. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.38.

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). SharkNinja had a return on equity of 32.51% and a net margin of 7.94%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.61 billion. As a group, research analysts expect that SharkNinja will post 4.52 earnings per share for the current year.

Institutional Investors Weigh In On SharkNinja

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new position in SharkNinja in the 4th quarter valued at approximately $47,000. Continuum Advisory LLC grew its holdings in SharkNinja by 6,875.0% in the fourth quarter. Continuum Advisory LLC now owns 558 shares of the company’s stock valued at $54,000 after purchasing an additional 550 shares during the last quarter. R Squared Ltd purchased a new position in shares of SharkNinja in the fourth quarter valued at $55,000. Covestor Ltd raised its stake in shares of SharkNinja by 284.4% during the 4th quarter. Covestor Ltd now owns 642 shares of the company’s stock worth $63,000 after buying an additional 475 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC boosted its position in shares of SharkNinja by 200.0% in the 4th quarter. Safe Harbor Fiduciary LLC now owns 1,500 shares of the company’s stock worth $146,000 after buying an additional 1,000 shares in the last quarter. 34.77% of the stock is currently owned by institutional investors and hedge funds.

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.