SharkNinja (NYSE:SN) Trading Down 4.7% - Should You Sell?

Shares of SharkNinja, Inc. (NYSE:SN - Get Free Report) traded down 4.7% during trading on Wednesday . The company traded as low as $95.64 and last traded at $96.11. 567,998 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 1,201,981 shares. The stock had previously closed at $100.89.

Analyst Upgrades and Downgrades

SN has been the topic of several recent research reports. Oppenheimer assumed coverage on SharkNinja in a report on Tuesday, October 1st. They set an "outperform" rating and a $120.00 price objective on the stock. Morgan Stanley lifted their price target on shares of SharkNinja from $80.00 to $93.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. Jefferies Financial Group increased their price objective on shares of SharkNinja from $115.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group lifted their target price on shares of SharkNinja from $102.00 to $123.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Finally, Canaccord Genuity Group raised their price target on shares of SharkNinja from $126.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $116.39.

SharkNinja Stock Performance

The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 37.22, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. The stock's 50-day simple moving average is $101.88 and its 200 day simple moving average is $91.91.

SharkNinja (NYSE:SN - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.04 by $0.17. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the business earned $0.95 EPS. SharkNinja's revenue was up 33.3% compared to the same quarter last year. Analysts expect that SharkNinja, Inc. will post 3.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in SharkNinja by 47.5% in the 3rd quarter. FMR LLC now owns 10,307,632 shares of the company's stock valued at $1,120,543,000 after buying an additional 3,321,684 shares during the last quarter. William Blair Investment Management LLC bought a new position in SharkNinja in the second quarter valued at about $190,482,000. Baillie Gifford & Co. boosted its holdings in SharkNinja by 6,408.9% in the third quarter. Baillie Gifford & Co. now owns 1,825,626 shares of the company's stock valued at $198,464,000 after acquiring an additional 1,797,578 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in SharkNinja in the third quarter worth about $114,878,000. Finally, Thrivent Financial for Lutherans raised its holdings in SharkNinja by 29.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company's stock worth $127,450,000 after purchasing an additional 380,926 shares during the last quarter. Institutional investors and hedge funds 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.