Canaccord Genuity Group Raises SharkNinja (NYSE:SN) Price Target to $90.00

SharkNinja (NYSE:SN) had its price objective increased by Canaccord Genuity Group from $82.00 to $90.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. started coverage on SharkNinja in a research note on Thursday, April 4th. They issued an overweight rating and a $70.00 price objective for the company. UBS Group raised their price objective on SharkNinja from $76.00 to $83.50 and gave the company a buy rating in a research note on Friday, May 10th. The Goldman Sachs Group raised their price objective on SharkNinja from $74.00 to $83.00 and gave the company a buy rating in a research note on Monday, May 13th. Bank of America started coverage on SharkNinja in a research note on Thursday, May 16th. They issued a buy rating and a $90.00 price objective for the company. Finally, Morgan Stanley raised their price objective on SharkNinja from $65.00 to $67.00 and gave the company an equal weight rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of 75.56.

SharkNinja Stock Performance

Shares of SN stock opened at 73.74 on Tuesday. The company has a market cap of $10.32 billion and a price-to-earnings ratio of 54.62. The stock has a 50 day simple moving average of 75.47 and a 200-day simple moving average of 63.90. SharkNinja has a 12-month low of 25.84 and a 12-month high of 80.81. The company has a current ratio of 1.92, a quick ratio of 1.09 and a debt-to-equity ratio of 0.49.

SharkNinja (NYSE:SN) last issued its earnings results on Thursday, May 9th. The company reported 1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of 0.95 by 0.11. The business had revenue of 1.07 billion during the quarter, compared to the consensus estimate of 949.88 million. SharkNinja had a return on equity of 29.62% and a net margin of 4.25%. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 EPS. On average, equities analysts forecast that SharkNinja will post 3.82 EPS for the current year.

Institutional Trading of SharkNinja

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GAM Holding AG acquired a new stake in SharkNinja in the second quarter valued at approximately $8,179,000. Bank of New York Mellon Corp grew its position in SharkNinja by 1,394.6% in the second quarter. Bank of New York Mellon Corp now owns 254,764 shares of the company’s stock valued at $19,146,000 after acquiring an additional 237,718 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in SharkNinja in the second quarter valued at approximately $2,108,000. Schwartz Investment Counsel Inc. grew its position in SharkNinja by 78.9% in the second quarter. Schwartz Investment Counsel Inc. now owns 90,700 shares of the company’s stock valued at $6,816,000 after acquiring an additional 40,000 shares in the last quarter. Finally, HMS Capital Management LLC acquired a new stake in SharkNinja in the second quarter valued at approximately $463,000. Institutional investors and hedge funds 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.