SharkNinja (NYSE:SN) Stock Price Expected to Rise, Morgan Stanley Analyst Says

SharkNinja (NYSE:SN) had its price target raised by stock analysts at Morgan Stanley from $85.00 to $101.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 9.49% from the company’s current price.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group boosted their target price on SharkNinja from $129.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Jefferies Financial Group boosted their price objective on SharkNinja from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price on SharkNinja from $139.00 to $98.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Guggenheim decreased their price objective on shares of SharkNinja from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday. Finally, The Goldman Sachs Group lowered their price objective on shares of SharkNinja from $133.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, SharkNinja has an average rating of “Moderate Buy” and an average price target of $121.50.

SharkNinja Price Performance

Shares of SN stock opened at $92.25 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.73 and a quick ratio of 1.14. The stock’s fifty day simple moving average is $81.92 and its 200 day simple moving average is $95.95. SharkNinja has a one year low of $60.50 and a one year high of $123.00. The firm has a market cap of $12.95 billion, a price-to-earnings ratio of 29.66, a P/E/G ratio of 2.35 and a beta of 1.68.

SharkNinja (NYSE:SN) last announced its earnings results on Thursday, May 8th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.14. SharkNinja had a net margin of 7.94% and a return on equity of 32.51%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the company posted $1.06 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts expect that SharkNinja will post 4.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. lifted its holdings in SharkNinja by 30.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 117,403 shares of the company’s stock valued at $11,430,000 after buying an additional 27,436 shares during the period. Cannell & Spears LLC acquired a new position in shares of SharkNinja in the 4th quarter valued at $18,125,000. Janney Montgomery Scott LLC boosted its position in shares of SharkNinja by 112.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 10,953 shares of the company’s stock worth $1,066,000 after purchasing an additional 5,790 shares during the last quarter. FMR LLC grew its stake in shares of SharkNinja by 59.8% during the fourth quarter. FMR LLC now owns 16,467,858 shares of the company’s stock worth $1,603,311,000 after purchasing an additional 6,160,226 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in SharkNinja in the fourth quarter valued at about $37,187,000. 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.