SharkNinja (NYSE:SN) Hits New 1-Year High – Still a Buy?

SharkNinja, Inc. (NYSE:SN)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $128.94 and last traded at $128.5550, with a volume of 796460 shares trading hands. The stock had previously closed at $123.68.

Analyst Ratings Changes

Several brokerages recently issued reports on SN. Oppenheimer raised their price objective on SharkNinja from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Tuesday. Guggenheim increased their target price on shares of SharkNinja from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Cantor Fitzgerald reaffirmed an “outperform” rating on shares of SharkNinja in a report on Wednesday, December 17th. Zacks Research downgraded shares of SharkNinja from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. Finally, Wall Street Zen cut shares of SharkNinja from a “buy” rating to a “hold” rating in a report on Sunday, December 21st. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, SharkNinja has a consensus rating of “Moderate Buy” and a consensus price target of $134.75.

SharkNinja Price Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.26 and a current ratio of 1.96. The firm has a market capitalization of $17.77 billion, a P/E ratio of 31.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.41. The business has a fifty day moving average of $104.38 and a 200-day moving average of $106.98.

Institutional Investors Weigh In On SharkNinja

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in SharkNinja by 21.8% in the first quarter. Royal Bank of Canada now owns 71,872 shares of the company’s stock worth $5,995,000 after purchasing an additional 12,851 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of SharkNinja during the 1st quarter worth about $369,000. Goldman Sachs Group Inc. lifted its stake in shares of SharkNinja by 169.4% in the 1st 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of SharkNinja by 7.7% in 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 valued at $4,238,000 after acquiring an additional 3,632 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of SharkNinja in the first quarter valued at approximately $656,000. 34.77% of the stock is currently owned by institutional investors.

SharkNinja Company Profile

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.