SharkNinja (NYSE:SN) Sets New 52-Week High Following Analyst Upgrade

SharkNinja, Inc. (NYSE:SN - Get Free Report)'s share price reached a new 52-week high on Thursday after Morgan Stanley raised their price target on the stock from $93.00 to $108.00. Morgan Stanley currently has an equal weight rating on the stock. SharkNinja traded as high as $116.00 and last traded at $117.33, with a volume of 107567 shares changing hands. The stock had previously closed at $110.65.

Several other research firms have also commented on SN. Canaccord Genuity Group raised their target price on shares of SharkNinja from $129.00 to $136.00 and gave the company a "buy" rating in a report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of SharkNinja from $120.00 to $127.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Jefferies Financial Group upped their target price on SharkNinja from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, The Goldman Sachs Group raised their price objective on SharkNinja from $102.00 to $123.00 and gave the company a "buy" rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, SharkNinja has an average rating of "Moderate Buy" and an average price target of $122.50.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SN. FMR LLC grew its position in SharkNinja by 59.8% during the fourth quarter. FMR LLC now owns 16,467,858 shares of the company's stock valued at $1,603,311,000 after acquiring an additional 6,160,226 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of SharkNinja by 42.9% in the 4th quarter. HighTower Advisors LLC now owns 7,179,756 shares of the company's stock worth $699,021,000 after acquiring an additional 2,155,136 shares during the last quarter. William Blair Investment Management LLC boosted its stake in shares of SharkNinja by 26.4% in the 4th quarter. William Blair Investment Management LLC now owns 2,827,340 shares of the company's stock valued at $275,270,000 after purchasing an additional 590,632 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of SharkNinja by 33.1% during the 4th quarter. Baillie Gifford & Co. now owns 2,430,185 shares of the company's stock valued at $236,603,000 after purchasing an additional 604,559 shares during the last quarter. Finally, Palestra Capital Management LLC raised its position in SharkNinja by 83.4% in the 4th quarter. Palestra Capital Management LLC now owns 1,780,785 shares of the company's stock worth $173,377,000 after purchasing an additional 809,960 shares during the period. Hedge funds and other institutional investors own 34.77% of the company's stock.

SharkNinja Price Performance

The firm's 50 day simple moving average is $104.88 and its two-hundred day simple moving average is $101.02. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.67 and a quick ratio of 0.95. The firm has a market capitalization of $15.44 billion, a P/E ratio of 43.26, a P/E/G ratio of 1.74 and a beta of 1.13.

SharkNinja (NYSE:SN - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.06). The firm had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.61 billion. SharkNinja had a net margin of 7.02% and a return on equity of 32.55%. As a group, analysts predict that SharkNinja, Inc. will post 3.91 earnings per share for the current year.

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.