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

Shares of 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. The stock had previously closed at $110.49.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SN. Canaccord Genuity Group lifted their price objective on SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Morgan Stanley raised their price objective on shares of SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a report on Friday. Bank of America increased their price target on shares of SharkNinja from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. The Goldman Sachs Group boosted their price target on SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Oppenheimer began coverage on shares of SharkNinja in a report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price objective for the company. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.85.

SharkNinja Stock Performance

The company’s 50 day simple moving average is $103.42 and its 200 day simple moving average is $84.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.71. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 54.45, a PEG ratio of 1.92 and a beta of 0.77.

SharkNinja (NYSE:SN) last posted its quarterly earnings data 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. SharkNinja had a return on equity of 32.29% and a net margin of 5.16%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company earned $0.95 EPS. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. On average, equities research analysts anticipate that SharkNinja, Inc. will post 3.9 earnings per share for the current year.

Hedge Funds Weigh In On SharkNinja

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. William Blair Investment Management LLC bought a new stake in SharkNinja in the second quarter worth approximately $190,482,000. Jericho Capital Asset Management L.P. acquired a new stake in SharkNinja in the 1st quarter worth approximately $62,309,000. Hood River Capital Management LLC bought a new stake in SharkNinja during the first quarter worth approximately $38,290,000. Thrivent Financial for Lutherans grew its holdings in SharkNinja by 29.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock valued at $127,450,000 after purchasing an additional 380,926 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in SharkNinja by 1,394.6% during the second quarter. Bank of New York Mellon Corp now owns 254,764 shares of the company’s stock valued at $19,146,000 after purchasing an additional 237,718 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.