The Goldman Sachs Group Increases SharkNinja (NYSE:SN) Price Target to $123.00

by · The Markets Daily

SharkNinja (NYSE:SN – Get Free Report) had its price target upped by analysts at The Goldman Sachs Group from $102.00 to $123.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 11.88% from the stock’s current price.

SN has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price target on shares of SharkNinja from $97.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Bank of America increased their target price on SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Oppenheimer initiated coverage on SharkNinja in a report on Tuesday, October 1st. They set an “outperform” rating and a $120.00 price target on the stock. Canaccord Genuity Group increased their price objective on SharkNinja from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Guggenheim raised their price objective on SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.28.

Get Our Latest Stock Analysis on SharkNinja

SharkNinja Price Performance

Shares of SN traded up $0.99 during trading hours on Monday, hitting $109.94. 327,384 shares of the company were exchanged, compared to its average volume of 1,116,287. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.71 and a quick ratio of 1.04. The company has a market capitalization of $15.39 billion, a PE ratio of 63.18, a PEG ratio of 1.90 and a beta of 0.77. The firm has a fifty day simple moving average of $100.26 and a 200-day simple moving average of $82.10. SharkNinja has a one year low of $38.69 and a one year high of $110.96.

SharkNinja (NYSE:SN – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.14. The business 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 revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter last year, the company posted $0.46 EPS. As a group, sell-side analysts predict that SharkNinja will post 3.89 earnings per share for the current year.

Institutional Investors Weigh In On SharkNinja

A number of hedge funds and other institutional investors have recently made changes to their positions in SN. William Blair Investment Management LLC acquired a new position in SharkNinja in the second quarter worth approximately $190,482,000. Thrivent Financial for Lutherans increased its stake in shares of SharkNinja by 29.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock worth $127,450,000 after purchasing an additional 380,926 shares during the last quarter. Wolf Hill Capital Management LP increased its stake in shares of SharkNinja by 4.1% during the 1st quarter. Wolf Hill Capital Management LP now owns 1,405,343 shares of the company’s stock worth $87,539,000 after purchasing an additional 55,974 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new position in shares of SharkNinja during the 1st quarter valued at $62,309,000. Finally, Dimensional Fund Advisors LP lifted 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. 34.77% of the stock is owned by hedge funds and other institutional investors.

SharkNinja Company Profile

(Get Free Report)

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.

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