JPMorgan Chase & Co. Lowers SharkNinja (NYSE:SN) Price Target to $120.00

SharkNinja (NYSE:SN) had its price objective decreased by JPMorgan Chase & Co. from $128.00 to $120.00 in a report published on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the company. Morgan Stanley lifted their price objective on SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Friday. Oppenheimer started coverage on shares of SharkNinja in a research note on Tuesday, October 1st. They set an “outperform” rating and a $120.00 price objective on the stock. The Goldman Sachs Group lifted their target price on shares of SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Canaccord Genuity Group increased their price target on SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Guggenheim lifted their price objective on SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.85.

SharkNinja Price Performance

NYSE SN traded down $3.09 during trading hours on Friday, reaching $89.12. The company’s stock had a trading volume of 4,760,236 shares, compared to its average volume of 1,337,842. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.71. The company’s 50-day moving average is $103.41 and its two-hundred day moving average is $84.82. SharkNinja has a fifty-two week low of $41.12 and a fifty-two week high of $112.93. The stock has a market cap of $12.47 billion, a PE ratio of 34.95, a PEG ratio of 1.60 and a beta of 1.04.

SharkNinja (NYSE:SN) last released its quarterly earnings results 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 net margin of 7.02% and a return on equity of 33.74%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the business earned $0.95 earnings per share. The company’s quarterly revenue was up 33.3% on a year-over-year basis. Analysts forecast that SharkNinja will post 3.9 EPS for the current year.

Hedge Funds Weigh In On SharkNinja

Several hedge funds and other institutional investors have recently modified their holdings of SN. William Blair Investment Management LLC purchased a new position in SharkNinja in the second quarter valued at approximately $190,482,000. Thrivent Financial for Lutherans raised its stake in shares of SharkNinja by 29.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock valued at $127,450,000 after acquiring an additional 380,926 shares during the period. Wolf Hill Capital Management LP lifted its holdings in shares of SharkNinja by 4.1% during the 1st quarter. Wolf Hill Capital Management LP now owns 1,405,343 shares of the company’s stock valued at $87,539,000 after acquiring an additional 55,974 shares in the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in SharkNinja during the 1st quarter worth $62,309,000. Finally, Dimensional Fund Advisors LP increased its holdings in SharkNinja by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 750,434 shares of the company’s stock valued at $56,401,000 after purchasing an additional 14,140 shares in the last quarter. 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.