SharkNinja (NYSE:SN) Shares Down 4.7% – Should You Sell?

SharkNinja, Inc. (NYSE:SN) fell 4.7% on Wednesday . The company traded as low as $95.64 and last traded at $96.11. 567,998 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 1,201,981 shares. The stock had previously closed at $100.89.

Analyst Ratings Changes

SN has been the topic of several research reports. Guggenheim increased their target price on SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Canaccord Genuity Group upped their price objective on SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their price objective on SharkNinja from $128.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Jefferies Financial Group boosted their target price on SharkNinja from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley increased their price target on SharkNinja from $80.00 to $93.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.39.

SharkNinja Price Performance

The stock has a fifty day simple moving average of $101.62 and a 200-day simple moving average of $91.93. The company has a market capitalization of $13.34 billion, a PE ratio of 37.38, a P/E/G ratio of 1.65 and a beta of 1.00. 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 posted its earnings results on Thursday, October 31st. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.17. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.31 billion. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. The firm’s revenue was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 earnings per share. Equities analysts anticipate that SharkNinja, Inc. will post 3.88 earnings per share for the current year.

Institutional Investors Weigh In On SharkNinja

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of SharkNinja by 47.5% in the third quarter. FMR LLC now owns 10,307,632 shares of the company’s stock valued at $1,120,543,000 after acquiring an additional 3,321,684 shares during the period. William Blair Investment Management LLC purchased a new stake in SharkNinja in the 2nd quarter valued at $190,482,000. Baillie Gifford & Co. boosted its stake in SharkNinja by 6,408.9% during the 3rd quarter. Baillie Gifford & Co. now owns 1,825,626 shares of the company’s stock worth $198,464,000 after purchasing an additional 1,797,578 shares during the period. Westfield Capital Management Co. LP purchased a new position in SharkNinja during the 3rd quarter worth $114,878,000. Finally, Thrivent Financial for Lutherans increased 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 purchasing an additional 380,926 shares during the period. 34.77% of the stock is owned by hedge funds and other institutional investors.

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.