SharkNinja (NYSE:SN) Shares Gap Down - Here's What Happened

SharkNinja, Inc. (NYSE:SN - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $110.92, but opened at $100.62. SharkNinja shares last traded at $98.22, with a volume of 865,132 shares changing hands.

Analyst Ratings Changes

Several brokerages recently weighed in on SN. Guggenheim raised their price target on shares of SharkNinja from $100.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, October 7th. Jefferies Financial Group lifted their price target on shares of SharkNinja from $115.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their target price on shares of SharkNinja from $97.00 to $128.00 and gave the company an "overweight" rating in a research note on Monday, September 30th. The Goldman Sachs Group lifted their price target on shares of SharkNinja from $102.00 to $123.00 and gave the company a "buy" rating in a report on Monday, October 21st. Finally, Bank of America lifted their price target on shares of SharkNinja from $100.00 to $110.00 and gave the company a "buy" rating in a report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $109.05.

SharkNinja Price Performance

The company has a 50-day moving average of $103.42 and a two-hundred day moving average of $84.63. The stock has a market capitalization of $12.91 billion, a PE ratio of 53.00, a P/E/G ratio of 1.90 and a beta of 0.77. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.71 and a quick ratio of 1.04.

SharkNinja (NYSE:SN - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.17. SharkNinja had a return on equity of 32.29% and a net margin of 5.16%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm earned $0.95 EPS. SharkNinja's quarterly revenue was up 33.3% on a year-over-year basis. Sell-side analysts predict that SharkNinja, Inc. will post 3.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Donaldson Capital Management LLC acquired a new stake in shares of SharkNinja in the third quarter worth about $3,158,000. KG&L Capital Management LLC acquired a new position in SharkNinja during the 3rd quarter worth $404,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of SharkNinja in the 3rd quarter valued at $11,942,000. Harbor Capital Advisors Inc. lifted its stake in shares of SharkNinja by 1,218.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 89,967 shares of the company's stock valued at $9,780,000 after purchasing an additional 83,141 shares during the period. Finally, Silvant Capital Management LLC bought a new stake in shares of SharkNinja in the 3rd quarter valued at $1,484,000. Hedge funds and other institutional investors own 34.77% of the company's stock.

About SharkNinja

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.