SharkNinja (NYSE:SN) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of SharkNinja (NYSE:SN) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

SN has been the topic of several other research reports. The Goldman Sachs Group restated a “buy” rating and set a $204.00 target price on shares of SharkNinja in a report on Thursday, August 6th. Piper Sandler lifted their price target on SharkNinja from $200.00 to $234.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. Jefferies Financial Group reiterated a “buy” rating and set a $300.00 price target on shares of SharkNinja in a research report on Wednesday. William Blair reissued an “outperform” rating on shares of SharkNinja in a report on Wednesday. Finally, Oppenheimer increased their price objective on shares of SharkNinja from $145.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Fourteen investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, SharkNinja has an average rating of “Buy” and an average price target of $208.32.

SharkNinja Stock Up 2.9%

NYSE SN opened at $223.53 on Friday. The firm has a market cap of $31.50 billion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 2.63 and a beta of 1.21. SharkNinja has a one year low of $83.21 and a one year high of $225.68. The stock’s 50 day simple moving average is $186.03 and its 200 day simple moving average is $145.02. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.04 and a quick ratio of 1.45.

SharkNinja (NYSE:SN) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.44. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.87 billion. SharkNinja had a return on equity of 28.84% and a net margin of 11.64%. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS. As a group, sell-side analysts forecast that SharkNinja will post 5.93 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Neil Shah sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $186.36, for a total value of $9,318,000.00. Following the transaction, the insider owned 497,220 shares in the company, valued at $92,661,919.20. This trade represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 40.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. WCM Investment Management LLC grew its position in shares of SharkNinja by 4.3% during the 1st quarter. WCM Investment Management LLC now owns 793,063 shares of the company’s stock worth $77,419,000 after buying an additional 32,524 shares during the period. Evercore Wealth Management LLC lifted its holdings in SharkNinja by 24.7% in the first quarter. Evercore Wealth Management LLC now owns 670,411 shares of the company’s stock valued at $70,997,000 after buying an additional 132,749 shares during the period. Bank of America Corp DE boosted its stake in SharkNinja by 17.9% in the first quarter. Bank of America Corp DE now owns 559,813 shares of the company’s stock valued at $59,284,000 after acquiring an additional 84,796 shares during the last quarter. Bank of New York Mellon Corp bought a new position in SharkNinja in the second quarter valued at approximately $81,134,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in SharkNinja by 11.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 391,140 shares of the company’s stock valued at $41,652,000 after acquiring an additional 41,323 shares during the last quarter. 34.77% of the stock is currently owned by institutional investors and hedge funds.

SharkNinja Company Profile

SharkNinja is a global product design and technology company that develops and markets household appliances under its Shark and Ninja brands. Its products are designed for everyday home use and are sold through retail and online channels.

The Shark brand is known for floor-care and cleaning products, including vacuums and floor cleaners, as well as home-environment and beauty products. Ninja focuses on kitchen appliances and food-preparation products, such as air fryers, blenders, multicookers, and coffee makers.