SharkNinja (NYSE:SN) Trading Down 5.1% After Analyst Downgrade

SharkNinja, Inc. (NYSE:SN)’s share price traded down 5.1% on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $142.00 to $136.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. SharkNinja traded as low as $100.00 and last traded at $100.77. 205,547 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,598,124 shares. The stock had previously closed at $106.22.

SN has been the subject of a number of other reports. Zacks Research upgraded SharkNinja from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 20th. Canaccord Genuity Group lifted their price objective on SharkNinja from $127.00 to $136.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Jefferies Financial Group set a $175.00 price objective on SharkNinja in a research note on Monday, June 30th. Oppenheimer lifted their price target on shares of SharkNinja from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Finally, Guggenheim reaffirmed a “buy” rating on shares of SharkNinja in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, SharkNinja has an average rating of “Buy” and an average target price of $130.71.

Hedge Funds Weigh In On SharkNinja

Several hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of SharkNinja during the second quarter worth about $81,983,000. Third Point LLC grew its stake in SharkNinja by 118.2% during the second quarter. Third Point LLC now owns 1,200,000 shares of the company’s stock worth $118,788,000 after buying an additional 650,000 shares during the period. Disciplined Growth Investors Inc. MN purchased a new stake in SharkNinja during the 2nd quarter worth $46,048,000. Voss Capital LP boosted its holdings in SharkNinja by 238.6% in the 2nd quarter. Voss Capital LP now owns 575,626 shares of the company’s stock worth $56,981,000 after acquiring an additional 405,626 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC boosted its position in SharkNinja by 79.6% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 900,661 shares of the company’s stock valued at $89,156,000 after buying an additional 399,043 shares during the last quarter. 34.77% of the stock is owned by hedge funds and other institutional investors.

SharkNinja Stock Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.20 and a current ratio of 1.94. The company has a market capitalization of $14.56 billion, a PE ratio of 28.19, a PEG ratio of 2.02 and a beta of 1.68. The company has a 50 day moving average price of $115.57 and a 200 day moving average price of $99.11.

SharkNinja (NYSE:SN) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.78 by $0.19. SharkNinja had a net margin of 8.82% and a return on equity of 28.78%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. SharkNinja has set its FY 2025 guidance at 5.000-5.100 EPS. Equities analysts forecast that SharkNinja, Inc. will post 4.52 EPS for the current year.

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.