SharkNinja (NYSE:SN) Reaches New 1-Year High – Here’s What Happened

SharkNinja, Inc. (NYSE:SN)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $112.93 and last traded at $112.03, with a volume of 557193 shares. The stock had previously closed at $110.49.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Jefferies Financial Group boosted their price target on SharkNinja from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Guggenheim upped their target price on shares of SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. lifted their price target on shares of SharkNinja from $97.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Bank of America increased their price objective on shares of SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Oppenheimer initiated coverage on shares of SharkNinja in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 target price for the company. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.05.

SharkNinja Price Performance

The stock’s 50-day simple moving average is $102.99 and its two-hundred day simple moving average is $84.39. The firm has a market cap of $15.54 billion, a P/E ratio of 63.48, a PEG ratio of 1.90 and a beta of 0.77. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.71 and a quick ratio of 1.04.

SharkNinja (NYSE:SN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.57 by $0.14. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.08 billion. SharkNinja had a return on equity of 32.29% and a net margin of 5.16%. SharkNinja’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 EPS. Equities research analysts forecast that SharkNinja, Inc. will post 3.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SharkNinja

Institutional investors have recently bought and sold shares of the business. Signaturefd LLC lifted its position in shares of SharkNinja by 104.6% during the third quarter. Signaturefd LLC now owns 356 shares of the company’s stock valued at $39,000 after buying an additional 182 shares during the last quarter. Waldron Private Wealth LLC acquired a new stake in SharkNinja in the third quarter valued at approximately $65,000. Headlands Technologies LLC acquired a new position in shares of SharkNinja during the first quarter worth $66,000. Picton Mahoney Asset Management acquired a new position in shares of SharkNinja during the second quarter worth $70,000. Finally, Kessler Investment Group LLC acquired a new stake in shares of SharkNinja in the 2nd quarter worth $125,000. 34.77% of the stock is owned by hedge funds and other institutional investors.

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.