SharkNinja (NYSE:SN) Hits New 12-Month High – Here’s Why

Shares of SharkNinja, Inc. (NYSE:SN) hit a new 52-week high during trading on Tuesday . The stock traded as high as $128.94 and last traded at $128.5550, with a volume of 796460 shares traded. The stock had previously closed at $123.68.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SN shares. Morgan Stanley set a $110.00 price objective on shares of SharkNinja in a research note on Monday, October 27th. Oppenheimer lifted their target price on SharkNinja from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday. Cowen initiated coverage on SharkNinja in a report on Wednesday, December 10th. They issued a “buy” rating on the stock. Cantor Fitzgerald reiterated an “outperform” rating on shares of SharkNinja in a report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. dropped their target price on shares of SharkNinja from $131.00 to $126.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.75.

SharkNinja Trading Up 1.8%

The company has a market capitalization of $17.77 billion, a PE ratio of 31.10, a PEG ratio of 1.88 and a beta of 1.41. The company has a current ratio of 1.96, a quick ratio of 1.26 and a debt-to-equity ratio of 0.29. The business’s 50-day simple moving average is $104.38 and its two-hundred day simple moving average is $106.98.

Hedge Funds Weigh In On SharkNinja

Institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. acquired a new stake in SharkNinja in the third quarter valued at $29,000. Larson Financial Group LLC increased its position in shares of SharkNinja by 64.3% in the 3rd quarter. Larson Financial Group LLC now owns 322 shares of the company’s stock worth $33,000 after purchasing an additional 126 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of SharkNinja in the 2nd quarter worth about $43,000. Sunbelt Securities Inc. acquired a new stake in shares of SharkNinja in the 3rd quarter valued at about $46,000. Finally, TFC Financial Management Inc. bought a new position in shares of SharkNinja during the third quarter worth about $55,000. 34.77% of the stock is owned by institutional investors and hedge funds.

SharkNinja Company Profile

SharkNinja (NYSE: SN) is a leading designer, marketer and distributor of innovative small home appliances under the Shark® and Ninja® brands. The company’s product portfolio spans floorcare, cleaning and home environment products, including upright, cordless and robotic vacuum cleaners, steam mops and air purifiers. In the kitchen category, SharkNinja offers a broad range of cooking and food preparation solutions, such as countertop ovens, air fryers, multicookers, blenders and coffee makers. Its products are positioned to deliver user-friendly performance, innovative features and durable design for everyday household tasks.

Founded in 1998 as Euro-Pro Operating LLC, the company initially focused on the European market before expanding its presence in North America.