SharkNinja (NYSE:SN) Reaches New 1-Year High Following Analyst Upgrade

Shares of SharkNinja, Inc. (NYSE:SN) reached a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $97.00 to $128.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. SharkNinja traded as high as $108.99 and last traded at $108.76, with a volume of 165637 shares. The stock had previously closed at $106.00.

Several other research firms have also recently issued reports on SN. Bank of America boosted their price objective on shares of SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Canaccord Genuity Group boosted their price objective on shares of SharkNinja from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group boosted their price objective on shares of SharkNinja from $83.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, SharkNinja has an average rating of “Moderate Buy” and a consensus target price of $91.28.

Institutional Investors Weigh In On SharkNinja

Several large investors have recently modified their holdings of the business. Parallel Advisors LLC bought a new position in shares of SharkNinja during the 4th quarter worth approximately $37,000. Picton Mahoney Asset Management bought a new position in shares of SharkNinja during the 2nd quarter worth approximately $70,000. Headlands Technologies LLC bought a new position in shares of SharkNinja during the 1st quarter worth approximately $66,000. Kessler Investment Group LLC bought a new position in shares of SharkNinja during the 2nd quarter worth approximately $125,000. Finally, Magnetar Financial LLC bought a new position in shares of SharkNinja during the 2nd quarter worth approximately $233,000. Institutional investors own 34.77% of the company’s stock.

SharkNinja Stock Performance

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 stock has a market cap of $15.11 billion, a P/E ratio of 79.96, a price-to-earnings-growth ratio of 1.55 and a beta of 0.76. The firm’s 50 day moving average is $91.97 and its 200 day moving average is $77.78.

SharkNinja (NYSE:SN) last released its earnings results on Thursday, August 8th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.14. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.08 billion. SharkNinja had a net margin of 5.16% and a return on equity of 32.29%. SharkNinja’s revenue was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 EPS. Analysts anticipate that SharkNinja, Inc. will post 3.89 EPS for the current year.

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.