SharkNinja (NYSE:SN) Price Target Increased to $110.00 by Analysts at Bank of America

SharkNinja (NYSE:SN) had its price objective raised by Bank of America from $100.00 to $110.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group increased their price target on SharkNinja from $83.00 to $102.00 and gave the company a buy rating in a report on Monday. China Renaissance initiated coverage on SharkNinja in a research report on Wednesday, May 29th. They issued a buy rating for the company. UBS Group increased their price objective on SharkNinja from $76.00 to $83.50 and gave the stock a buy rating in a research report on Friday, May 10th. JPMorgan Chase & Co. increased their price objective on SharkNinja from $80.00 to $97.00 and gave the stock an overweight rating in a research report on Friday, August 9th. Finally, Canaccord Genuity Group increased their price objective on SharkNinja from $82.00 to $90.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, SharkNinja presently has a consensus rating of Moderate Buy and an average price target of $83.81.

SharkNinja Price Performance

Shares of SharkNinja stock opened at $89.94 on Tuesday. The business has a 50 day simple moving average of $76.26 and a two-hundred day simple moving average of $66.66. SharkNinja has a 12 month low of $29.42 and a 12 month high of $91.76. The stock has a market capitalization of $12.59 billion and a P/E ratio of 66.62. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.92 and a quick ratio of 1.09.

SharkNinja (NYSE:SN) last announced its earnings results on Thursday, August 8th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.14. SharkNinja had a return on equity of 32.94% and a net margin of 5.16%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The business’s revenue was up 31.4% compared to the same quarter last year. As a group, analysts predict that SharkNinja will post 4.08 EPS for the current fiscal year.

Institutional Trading of SharkNinja

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans raised its stake in SharkNinja by 29.0% in the second quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock valued at $127,450,000 after buying an additional 380,926 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of SharkNinja during the second quarter worth about $1,484,000. Concorde Asset Management LLC acquired a new stake in shares of SharkNinja during the second quarter worth about $661,000. Seven Eight Capital LP increased its position in shares of SharkNinja by 27.1% during the second quarter. Seven Eight Capital LP now owns 28,847 shares of the company’s stock worth $2,168,000 after purchasing an additional 6,156 shares in the last quarter. Finally, Blair William & Co. IL acquired a new stake in shares of SharkNinja during the second quarter worth about $5,118,000. 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.