SharkNinja (NYSE:SN) Shares Gap Down – Here’s Why

SharkNinja, Inc. (NYSE:SN) gapped down prior to trading 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.

Analysts Set New Price Targets

A number of analysts have commented on the stock. The Goldman Sachs Group lifted their target price on shares of SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Jefferies Financial Group lifted their price objective on SharkNinja from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Morgan Stanley increased their target price on SharkNinja from $80.00 to $93.00 and gave the company an “equal weight” rating in a research note on Friday. Canaccord Genuity Group boosted their target price on SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Oppenheimer began coverage on shares of SharkNinja in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.85.

SharkNinja Price Performance

The company has a fifty day moving average price of $103.41 and a two-hundred day moving average price of $84.82. The company has a current ratio of 1.71, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. The firm has a market cap of $12.47 billion, a P/E ratio of 34.95, a PEG ratio of 1.60 and a beta of 1.04.

SharkNinja (NYSE:SN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.17. SharkNinja had a net margin of 7.02% and a return on equity of 33.74%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The firm’s revenue was up 33.3% compared to the same quarter last year. Equities analysts anticipate that SharkNinja, Inc. will post 3.9 earnings per share for the current year.

Institutional Investors Weigh In On SharkNinja

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assetmark Inc. acquired a new stake in SharkNinja in the 3rd quarter valued at $527,000. Hollencrest Capital Management acquired a new stake in shares of SharkNinja in the third quarter valued at about $54,000. Donaldson Capital Management LLC acquired a new stake in shares of SharkNinja in the third quarter valued at about $3,158,000. KG&L Capital Management LLC bought a new stake in SharkNinja during the third quarter worth about $404,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in SharkNinja during the third quarter valued at approximately $11,942,000. 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.