Canaccord Genuity Group Forecasts Strong Price Appreciation for SharkNinja (NYSE:SN) Stock

SharkNinja (NYSE:SN) had its price objective boosted by stock analysts at Canaccord Genuity Group from $129.00 to $136.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 23.27% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group lifted their price target on shares of SharkNinja from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on SharkNinja from $120.00 to $127.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley increased their price target on SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group boosted 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. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.50.

SharkNinja Stock Performance

Shares of SN opened at $110.32 on Friday. The stock has a 50 day moving average of $104.88 and a 200 day moving average of $100.85. The company has a market capitalization of $15.44 billion, a price-to-earnings ratio of 43.26, a PEG ratio of 1.74 and a beta of 1.13. SharkNinja has a 12 month low of $49.86 and a 12 month high of $123.00. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42.

SharkNinja (NYSE:SN) last released its earnings results on Thursday, February 13th. The company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.06). The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. As a group, sell-side analysts forecast that SharkNinja will post 3.91 earnings per share for the current year.

Institutional Trading of SharkNinja

Several institutional investors and hedge funds have recently bought and sold shares of SN. Signaturefd LLC raised its position in shares of SharkNinja by 104.6% in the third quarter. Signaturefd LLC now owns 356 shares of the company’s stock worth $39,000 after buying an additional 182 shares in the last quarter. Quarry LP bought a new stake in shares of SharkNinja during the 4th quarter valued at about $47,000. Hollencrest Capital Management purchased a new position in shares of SharkNinja during the third quarter worth about $54,000. Safe Harbor Fiduciary LLC bought a new position in shares of SharkNinja in the third quarter worth approximately $54,000. Finally, R Squared Ltd purchased a new stake in SharkNinja in the fourth quarter valued at approximately $55,000. 34.77% of the stock is currently 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.