SharkNinja (NYSE:SN) Given New $129.00 Price Target at Canaccord Genuity Group

SharkNinja (NYSE:SN) had its target price boosted by Canaccord Genuity Group from $128.00 to $129.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on the company. JPMorgan Chase & Co. dropped their target price on SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Morgan Stanley lifted their price objective on shares of SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Guggenheim increased their target price on shares of SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 7th. 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 target for the company. Finally, Jefferies Financial Group increased their price objective on shares of SharkNinja from $115.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, SharkNinja has a consensus rating of “Moderate Buy” and an average target price of $116.50.

SharkNinja Price Performance

SharkNinja stock opened at $102.00 on Wednesday. SharkNinja has a 52-week low of $45.85 and a 52-week high of $112.93. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 0.42. The firm’s fifty day moving average is $98.72 and its 200 day moving average is $94.05. The company has a market cap of $14.27 billion, a price-to-earnings ratio of 40.00, a PEG ratio of 1.65 and a beta of 1.10.

SharkNinja (NYSE:SN) last announced its earnings results on Thursday, October 31st. The company reported $1.21 earnings per share (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 32.55%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the company earned $0.95 EPS. The business’s revenue was up 33.3% compared to the same quarter last year. Sell-side analysts forecast that SharkNinja will post 3.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SN. State Street Corp increased its position in SharkNinja by 17.8% during the 3rd quarter. State Street Corp now owns 667,003 shares of the company’s stock valued at $72,510,000 after purchasing an additional 101,020 shares during the period. Tidal Investments LLC increased its holdings in SharkNinja by 38.7% during the third quarter. Tidal Investments LLC now owns 19,397 shares of the company’s stock valued at $2,109,000 after buying an additional 5,416 shares during the period. Lord Abbett & CO. LLC bought a new position in SharkNinja in the third quarter worth approximately $5,832,000. abrdn plc raised its stake in SharkNinja by 17.8% in the third quarter. abrdn plc now owns 419,660 shares of the company’s stock worth $45,621,000 after buying an additional 63,299 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in SharkNinja during the third quarter worth $11,942,000. Institutional investors own 34.77% of the company’s stock.

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.