SharkNinja (NYSE:SN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

SharkNinja (NYSE:SN - Free Report) had its price objective raised by JPMorgan Chase & Co. from $120.00 to $127.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on SN. Jefferies Financial Group upped their price objective on shares of SharkNinja from $115.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Morgan Stanley increased their price target on shares of SharkNinja from $80.00 to $93.00 and gave the company an "equal weight" rating in a report on Friday, November 1st. Canaccord Genuity Group increased their price target on shares of SharkNinja from $128.00 to $129.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. The Goldman Sachs Group increased 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, Oppenheimer started coverage on shares of SharkNinja in a report on Tuesday, October 1st. They set an "outperform" rating and a $120.00 price target on the stock. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $117.28.

SharkNinja Stock Up 1.5 %

SN traded up $1.65 during midday trading on Thursday, reaching $108.87. The company's stock had a trading volume of 977,178 shares, compared to its average volume of 1,003,416. The firm has a market capitalization of $15.24 billion, a price-to-earnings ratio of 42.70, a PEG ratio of 1.54 and a beta of 1.10. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. SharkNinja has a 1 year low of $45.85 and a 1 year high of $112.93. The stock's 50-day moving average is $100.09 and its 200-day moving average is $95.05.

SharkNinja (NYSE:SN - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.17. The business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.31 billion. SharkNinja had a net margin of 7.02% and a return on equity of 32.55%. The business's revenue was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. As a group, research analysts expect that SharkNinja will post 3.89 EPS for the current year.

Institutional Investors Weigh In On SharkNinja

Several institutional investors and hedge funds have recently added to or reduced their stakes in SN. Dimensional Fund Advisors LP raised its position in SharkNinja by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 750,434 shares of the company's stock worth $56,401,000 after acquiring an additional 14,140 shares during the period. Renaissance Technologies LLC raised its position in SharkNinja by 16.3% in the second quarter. Renaissance Technologies LLC now owns 368,800 shares of the company's stock worth $27,715,000 after acquiring an additional 51,800 shares during the period. Amalgamated Bank bought a new position in SharkNinja in the second quarter worth approximately $285,000. Blair William & Co. IL bought a new position in SharkNinja in the second quarter worth approximately $5,118,000. Finally, Seven Eight Capital LP raised its position in SharkNinja by 27.1% in the second quarter. Seven Eight Capital LP now owns 28,847 shares of the company's stock worth $2,168,000 after acquiring an additional 6,156 shares during the period. Hedge funds and other institutional investors own 34.77% of the company's stock.

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.