Morgan Stanley Issues Positive Forecast for SharkNinja (NYSE:SN) Stock Price

SharkNinja (NYSE:SN) had its price objective hoisted by Morgan Stanley from $80.00 to $93.00 in a research note published on Friday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts have also issued reports on SN. Jefferies Financial Group boosted their price objective on SharkNinja from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Oppenheimer started coverage on shares of SharkNinja in a report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price target for the company. Guggenheim raised their price objective on shares of SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Canaccord Genuity Group upped their target price 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. Finally, The Goldman Sachs Group lifted their price target on SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, SharkNinja has a consensus rating of “Moderate Buy” and an average price target of $110.85.

SharkNinja Trading Down 3.4 %

Shares of SN stock traded down $3.09 on Friday, reaching $89.12. The company had a trading volume of 4,760,236 shares, compared to its average volume of 1,337,842. The company has a 50-day moving average of $103.41 and a 200-day moving average of $84.82. SharkNinja has a 12 month low of $41.12 and a 12 month high of $112.93. The stock has a market cap of $12.47 billion, a PE ratio of 34.95, a PEG ratio of 1.60 and a beta of 1.04. The company has a current ratio of 1.71, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46.

SharkNinja (NYSE:SN) last posted its earnings results on Thursday, October 31st. The company reported $1.21 earnings per share 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 for the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. On average, equities analysts forecast that SharkNinja will post 3.9 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC grew its stake in shares of SharkNinja by 104.6% in the third quarter. Signaturefd LLC now owns 356 shares of the company’s stock valued at $39,000 after buying an additional 182 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of SharkNinja in the 3rd quarter valued at about $54,000. Waldron Private Wealth LLC acquired a new position in shares of SharkNinja during the 3rd quarter worth about $65,000. Picton Mahoney Asset Management bought a new stake in shares of SharkNinja in the 2nd quarter valued at about $70,000. Finally, Headlands Technologies LLC acquired a new stake in SharkNinja in the 1st quarter valued at about $66,000. 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.