SharkNinja (NYSE:SN) Hits New 52-Week High – What’s Next?

SharkNinja, Inc. (NYSE:SN)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $113.25 and last traded at $111.96, with a volume of 149199 shares. The stock had previously closed at $111.54.

Wall Street Analyst Weigh In

A number of brokerages have commented on SN. 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 report on Wednesday, October 23rd. Guggenheim increased their target price on shares of SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Morgan Stanley boosted their price target on shares of SharkNinja from $80.00 to $93.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on SharkNinja from $120.00 to $127.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Canaccord Genuity Group lifted their price objective on shares of SharkNinja from $128.00 to $129.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.28.

SharkNinja Price Performance

The stock has a market capitalization of $15.64 billion, a price-to-earnings ratio of 43.82, a P/E/G ratio of 1.59 and a beta of 1.10. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.67. The company has a 50-day moving average of $102.14 and a 200-day moving average of $97.61.

SharkNinja (NYSE:SN) last released 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 net margin of 7.02% and a return on equity of 32.55%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company earned $0.95 EPS. SharkNinja’s revenue for the quarter was up 33.3% on a year-over-year basis. As a group, equities research analysts expect that SharkNinja, Inc. will post 3.89 earnings per share for the current fiscal year.

Institutional Trading of SharkNinja

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in SharkNinja by 47.5% in the third quarter. FMR LLC now owns 10,307,632 shares of the company’s stock valued at $1,120,543,000 after acquiring an additional 3,321,684 shares during the last quarter. Baillie Gifford & Co. lifted its position in SharkNinja by 6,408.9% during the third quarter. Baillie Gifford & Co. now owns 1,825,626 shares of the company’s stock valued at $198,464,000 after buying an additional 1,797,578 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of SharkNinja during the 3rd quarter valued at about $114,878,000. State Street Corp lifted its position in SharkNinja by 17.8% during the 3rd quarter. State Street Corp now owns 667,003 shares of the company’s stock worth $72,510,000 after acquiring an additional 101,020 shares in the last quarter. Finally, abrdn plc lifted its position in shares of SharkNinja by 17.8% during the third quarter. abrdn plc now owns 419,660 shares of the company’s stock worth $45,621,000 after purchasing an additional 63,299 shares in the last quarter. 34.77% of the stock is owned by institutional investors and hedge funds.

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.