JPMorgan Chase & Co. Has Lowered Expectations for SharkNinja (NYSE:SN) Stock Price

SharkNinja (NYSE:SN) had its target price decreased by stock analysts at JPMorgan Chase & Co. from $128.00 to $120.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 26.65% from the stock’s previous close.

A number of other research firms have also weighed in on SN. Morgan Stanley upped their price objective on SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Friday. Jefferies Financial Group upped their price target on SharkNinja from $115.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price objective on SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Bank of America boosted their price objective on SharkNinja from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Finally, Oppenheimer began coverage on shares of SharkNinja in a report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 target price on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.85.

SharkNinja Price Performance

SN opened at $94.75 on Friday. The stock’s 50-day moving average price is $103.42 and its 200 day moving average price is $84.63. SharkNinja has a 12-month low of $41.12 and a 12-month high of $112.93. The firm has a market cap of $13.26 billion, a price-to-earnings ratio of 54.45, a PEG ratio of 1.92 and a beta of 0.77. 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 issued its quarterly earnings results 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. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.31 billion. SharkNinja had a net margin of 5.16% and a return on equity of 32.29%. The business’s quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 earnings per share. As a group, sell-side analysts expect that SharkNinja will post 3.9 earnings per share for the current year.

Institutional Trading of SharkNinja

Hedge funds and other institutional investors have recently made changes to their positions in the company. William Blair Investment Management LLC purchased a new stake in SharkNinja in the 2nd quarter valued at $190,482,000. Thrivent Financial for Lutherans grew its holdings in shares of SharkNinja by 29.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock worth $127,450,000 after buying an additional 380,926 shares during the last quarter. Wolf Hill Capital Management LP increased its position in SharkNinja by 4.1% in the 1st quarter. Wolf Hill Capital Management LP now owns 1,405,343 shares of the company’s stock valued at $87,539,000 after acquiring an additional 55,974 shares during the period. Jericho Capital Asset Management L.P. acquired a new stake in SharkNinja during the 1st quarter worth approximately $62,309,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of SharkNinja by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 750,434 shares of the company’s stock valued at $56,401,000 after purchasing an additional 14,140 shares during the last quarter. 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.