Guggenheim Forecasts Strong Price Appreciation for SharkNinja (NYSE:SN) Stock

SharkNinja (NYSE:SN) had its price target lifted by stock analysts at Guggenheim from $120.00 to $140.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target points to a potential upside of 22.49% from the stock’s previous close.

A number of other research analysts also recently commented on SN. Cowen began coverage on shares of SharkNinja in a research note on Wednesday, December 10th. They set a “buy” rating on the stock. Zacks Research cut shares of SharkNinja from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. Oppenheimer lifted their price target on SharkNinja from $112.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday. Canaccord Genuity Group upped their price objective on SharkNinja from $136.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, JPMorgan Chase & Co. reduced their target price on SharkNinja from $131.00 to $126.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.25.

SharkNinja Stock Up 0.6%

SN stock traded up $0.68 during midday trading on Tuesday, hitting $114.30. 150,471 shares of the company’s stock were exchanged, compared to its average volume of 1,723,707. The firm has a 50 day moving average price of $95.16 and a 200-day moving average price of $103.37. SharkNinja has a 12-month low of $60.50 and a 12-month high of $128.51. The stock has a market capitalization of $16.13 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 2.04 and a beta of 1.46. The company has a current ratio of 1.96, a quick ratio of 1.26 and a debt-to-equity ratio of 0.29.

Hedge Funds Weigh In On SharkNinja

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Abrams Bison Investments LLC raised its position in shares of SharkNinja by 20.3% during the 2nd quarter. Abrams Bison Investments LLC now owns 1,775,000 shares of the company’s stock worth $175,707,000 after purchasing an additional 300,000 shares during the period. Alliancebernstein L.P. boosted its position in SharkNinja by 13.2% during the 3rd quarter. Alliancebernstein L.P. now owns 1,513,839 shares of the company’s stock valued at $156,152,000 after purchasing an additional 176,104 shares during the period. Westfield Capital Management Co. LP grew its stake in SharkNinja by 14.2% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,404,751 shares of the company’s stock worth $139,056,000 after buying an additional 174,967 shares during the last quarter. Palestra Capital Management LLC grew its stake in SharkNinja by 10.3% during the 3rd quarter. Palestra Capital Management LLC now owns 1,388,046 shares of the company’s stock worth $143,177,000 after buying an additional 130,121 shares during the last quarter. Finally, Greenvale Capital LLP increased its position in SharkNinja by 26.2% in the second quarter. Greenvale Capital LLP now owns 1,350,000 shares of the company’s stock worth $133,636,000 after buying an additional 280,000 shares during the period. 34.77% of the stock is currently owned by institutional investors and hedge funds.

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.