By otakuyassine3@gmail.com 
SharkNinja, Inc. (NYSE:SN – Get Free Report) fell 4.7% during mid-day trading on Wednesday . The company traded as low as $95.64 and last traded at $96.11. 567,998 shares traded hands during trading, a decline of 53% from the average session volume of 1,201,981 shares. The stock had previously closed at $100.89.
Wall Street Analyst Weigh In
SN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Morgan Stanley lifted their price target on SharkNinja from $80.00 to $93.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Canaccord Genuity Group boosted their price objective on SharkNinja from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Guggenheim increased their target price on SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Finally, Oppenheimer started coverage on shares of SharkNinja in a report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price target for the company. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, SharkNinja has an average rating of “Moderate Buy” and an average target price of $116.39.
Read Our Latest Analysis on SharkNinja
SharkNinja Stock Performance
The company has a market cap of $13.34 billion, a PE ratio of 37.38, a PEG ratio of 1.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.67. The firm’s 50 day moving average is $101.62 and its 200-day moving average is $91.93.
SharkNinja (NYSE:SN – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.17. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.31 billion. The business’s revenue was up 33.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 earnings per share. On average, research analysts anticipate that SharkNinja, Inc. will post 3.88 earnings per share for the current fiscal year.
Hedge Funds Weigh In On SharkNinja
A number of institutional investors have recently bought and sold shares of SN. FMR LLC increased its position in shares of SharkNinja by 47.5% during the 3rd quarter. FMR LLC now owns 10,307,632 shares of the company’s stock worth $1,120,543,000 after purchasing an additional 3,321,684 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of SharkNinja during the second quarter valued at about $190,482,000. Baillie Gifford & Co. increased its position in shares of SharkNinja by 6,408.9% during the third quarter. Baillie Gifford & Co. now owns 1,825,626 shares of the company’s stock valued at $198,464,000 after acquiring an additional 1,797,578 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of SharkNinja by 29.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock valued at $127,450,000 after acquiring an additional 380,926 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in shares of SharkNinja in the 3rd quarter worth approximately $114,878,000. 34.77% of the stock is 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.
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