SharkNinja (NYSE:SN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

SharkNinja (NYSE:SN) had its price target hoisted by equities research analysts at JPMorgan Chase & Co. from $223.00 to $243.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 8.71% from the stock’s previous close.

Several other research firms have also recently weighed in on SN. Canaccord Genuity Group increased their price objective on SharkNinja from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. UBS Group reaffirmed a “buy” rating and set a $219.10 price target on shares of SharkNinja in a research report on Wednesday, August 12th. William Blair restated an “outperform” rating on shares of SharkNinja in a research report on Wednesday. BTIG Research raised their target price on shares of SharkNinja from $245.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday. Finally, TD Cowen increased their price objective on shares of SharkNinja from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, October 27th. Fourteen research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $208.32.

SharkNinja Stock Performance

SN stock traded up $6.40 during midday trading on Thursday, reaching $223.53. 1,548,290 shares of the company were exchanged, compared to its average volume of 1,235,663. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.08 and a quick ratio of 1.45. The business has a 50-day moving average price of $186.03 and a two-hundred day moving average price of $145.02. SharkNinja has a one year low of $83.21 and a one year high of $225.68. The firm has a market capitalization of $31.49 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21.

SharkNinja (NYSE:SN) last announced its earnings results on Wednesday, November 4th. The company reported $2.34 EPS for the quarter, topping the consensus estimate of $1.90 by $0.44. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.87 billion. SharkNinja had a net margin of 10.06% and a return on equity of 27.79%. SharkNinja’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.50 EPS. Equities research analysts forecast that SharkNinja will post 5.89 EPS for the current year.

Insider Buying and Selling at SharkNinja

In related news, insider Neil Shah sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $186.36, for a total transaction of $9,318,000.00. Following the transaction, the insider directly owned 497,220 shares of the company’s stock, valued at approximately $92,661,919.20. This represents a 9.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 40.80% of the company’s stock.

Hedge Funds Weigh In On SharkNinja

A number of large investors have recently modified their holdings of SN. Richardson Financial Services Inc. raised its holdings in SharkNinja by 36.3% during the third quarter. Richardson Financial Services Inc. now owns 199 shares of the company’s stock worth $36,000 after buying an additional 53 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in shares of SharkNinja by 4.9% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,576 shares of the company’s stock worth $284,000 after acquiring an additional 74 shares in the last quarter. North Dakota State Investment Board raised its holdings in shares of SharkNinja by 3.5% in the 3rd quarter. North Dakota State Investment Board now owns 2,563 shares of the company’s stock worth $462,000 after acquiring an additional 87 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of SharkNinja by 108.2% in the 3rd quarter. IFP Advisors Inc now owns 177 shares of the company’s stock worth $32,000 after acquiring an additional 92 shares during the last quarter. Finally, World Investment Advisors lifted its position in SharkNinja by 4.6% in the 1st quarter. World Investment Advisors now owns 2,343 shares of the company’s stock valued at $248,000 after acquiring an additional 103 shares in the last quarter. 34.77% of the stock is currently owned by institutional investors.

SharkNinja Company Profile

SharkNinja is a global product design and technology company that develops and markets household appliances under its Shark and Ninja brands. Its products are designed for everyday home use and are sold through retail and online channels.

The Shark brand is known for floor-care and cleaning products, including vacuums and floor cleaners, as well as home-environment and beauty products. Ninja focuses on kitchen appliances and food-preparation products, such as air fryers, blenders, multicookers, and coffee makers.