SharkNinja (NYSE:SN) Reaches New 52-Week High – Here’s Why

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

Wall Street Analyst Weigh In

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

SharkNinja Stock Up 0.5 %

The stock has a market cap of $15.54 billion, a price-to-earnings ratio of 63.48, a PEG ratio of 1.90 and a beta of 0.77. The business’s 50 day moving average is $102.99 and its 200-day moving average is $84.39. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.71.

SharkNinja (NYSE:SN) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.57 by $0.14. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates 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 period in the previous year, the business earned $0.46 EPS. On average, sell-side analysts predict that SharkNinja, Inc. will post 3.9 EPS for the current fiscal year.

Institutional Trading of SharkNinja

A number of hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC purchased a new position in shares of SharkNinja during the 1st quarter worth $981,000. GSA Capital Partners LLP acquired a new position in SharkNinja in the 1st quarter valued at about $1,076,000. Capstone Investment Advisors LLC increased its holdings in shares of SharkNinja by 275.5% during the 1st quarter. Capstone Investment Advisors LLC now owns 92,772 shares of the company’s stock worth $5,779,000 after buying an additional 68,069 shares during the last quarter. NBC Securities Inc. raised its holdings in SharkNinja by 4,000.0% in the 3rd quarter. NBC Securities Inc. now owns 6,150 shares of the company’s stock valued at $668,000 after buying an additional 6,000 shares during the period. Finally, Concorde Asset Management LLC acquired a new stake in shares of SharkNinja during the second quarter valued at about $661,000. 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.