SharkNinja (NYSE:SN) Hits New 52-Week High – Here’s What Happened

SharkNinja, Inc. (NYSE:SN)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $164.70 and last traded at $161.6940, with a volume of 164073 shares. The stock had previously closed at $161.77.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SN shares. Piper Sandler increased their price objective on shares of SharkNinja from $150.00 to $181.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Weiss Ratings raised SharkNinja from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Bank of America raised their price target on SharkNinja from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their price objective on SharkNinja from $146.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Finally, TD Cowen upped their price objective on SharkNinja from $145.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, SharkNinja currently has an average rating of “Moderate Buy” and a consensus price target of $167.90.

SharkNinja Trading Up 4.9%

The company has a market capitalization of $23.85 billion, a P/E ratio of 33.97, a PEG ratio of 2.10 and a beta of 1.21. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.38 and a quick ratio of 1.62. The business’s 50-day moving average price is $142.61 and its two-hundred day moving average price is $124.69.

SharkNinja (NYSE:SN) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.38 billion. SharkNinja had a net margin of 10.70% and a return on equity of 29.07%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. As a group, analysts forecast that SharkNinja, Inc. will post 5.77 EPS for the current fiscal year.

Insider Transactions at SharkNinja

In other SharkNinja news, CFO Adam Quigley sold 6,923 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $112.97, for a total value of $782,091.31. Following the completion of the sale, the chief financial officer directly owned 1,750 shares in the company, valued at $197,697.50. This represents a 79.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 40.80% of the company’s stock.

Hedge Funds Weigh In On SharkNinja

Several institutional investors and hedge funds have recently modified their holdings of SN. Royal Bank of Canada raised its holdings in SharkNinja by 21.8% during the 1st quarter. Royal Bank of Canada now owns 71,872 shares of the company’s stock worth $5,995,000 after buying an additional 12,851 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of SharkNinja during the first quarter worth $369,000. Goldman Sachs Group Inc. increased its position in shares of SharkNinja by 169.4% during the first quarter. Goldman Sachs Group Inc. now owns 505,301 shares of the company’s stock worth $42,147,000 after acquiring an additional 317,730 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of SharkNinja by 7.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 50,813 shares of the company’s stock worth $4,238,000 after acquiring an additional 3,632 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of SharkNinja during the first quarter worth $656,000. 34.77% of the stock is currently owned by institutional investors and hedge funds.

About SharkNinja

SharkNinja (NYSE: SN) is a leading designer, marketer and distributor of innovative small home appliances under the Shark® and Ninja® brands. The company’s product portfolio spans floorcare, cleaning and home environment products, including upright, cordless and robotic vacuum cleaners, steam mops and air purifiers. In the kitchen category, SharkNinja offers a broad range of cooking and food preparation solutions, such as countertop ovens, air fryers, multicookers, blenders and coffee makers. Its products are positioned to deliver user-friendly performance, innovative features and durable design for everyday household tasks.

Founded in 1998 as Euro-Pro Operating LLC, the company initially focused on the European market before expanding its presence in North America.