Canaccord Genuity Group Forecasts Strong Price Appreciation for SharkNinja (NYSE:SN) Stock

SharkNinja (NYSE:SN) had its target price upped by research analysts at Canaccord Genuity Group from $136.00 to $138.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 49.39% from the stock’s previous close.

A number of other research firms also recently issued reports on SN. Wall Street Zen upgraded SharkNinja from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Zacks Research lowered shares of SharkNinja from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. Guggenheim reiterated a “buy” rating on shares of SharkNinja in a research report on Friday, August 8th. JPMorgan Chase & Co. dropped their price target on shares of SharkNinja from $131.00 to $126.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Morgan Stanley set a $110.00 price objective on shares of SharkNinja in a research report on Monday, October 27th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $127.57.

SharkNinja Stock Up 0.5%

Shares of SharkNinja stock opened at $92.37 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. SharkNinja has a twelve month low of $60.50 and a twelve month high of $128.51. The company has a market cap of $13.04 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 1.76 and a beta of 1.51. The company’s 50 day moving average is $101.62 and its 200 day moving average is $101.81.

SharkNinja (NYSE:SN) last announced its earnings results on Thursday, November 6th. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.18. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. SharkNinja had a net margin of 9.45% and a return on equity of 30.15%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.21 EPS. SharkNinja has set its FY 2025 guidance at 5.050-5.150 EPS. Research analysts anticipate that SharkNinja will post 4.52 EPS for the current year.

Hedge Funds Weigh In On SharkNinja

A number of large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of SharkNinja during the second quarter valued at approximately $81,983,000. Third Point LLC grew its holdings in shares of SharkNinja by 118.2% in the second quarter. Third Point LLC now owns 1,200,000 shares of the company’s stock worth $118,788,000 after purchasing an additional 650,000 shares during the last quarter. Disciplined Growth Investors Inc. MN bought a new stake in SharkNinja during the 2nd quarter valued at about $46,048,000. Voss Capital LP boosted its position in SharkNinja by 238.6% in the 2nd quarter. Voss Capital LP now owns 575,626 shares of the company’s stock valued at $56,981,000 after buying an additional 405,626 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC grew its stake in SharkNinja by 79.6% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 900,661 shares of the company’s stock worth $89,156,000 after acquiring an additional 399,043 shares in the last quarter. 34.77% of the stock is owned by hedge funds and other institutional investors.

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.