SharkNinja (NYSE:SN) Sees Large Volume Increase Following Earnings Beat

Shares of SharkNinja, Inc. (NYSE:SN) saw unusually-high trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 782,370 shares were traded during mid-day trading, a decline of 32% from the previous session’s volume of 1,143,031 shares.The stock last traded at $93.94 and had previously closed at $92.21.

The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.17. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.31 billion. SharkNinja had a return on equity of 33.74% and a net margin of 7.02%. The firm’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share.

Analyst Upgrades and Downgrades

SN has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on shares of SharkNinja from $80.00 to $93.00 and gave the company an “equal weight” rating in a research note on Friday. Jefferies Financial Group boosted their target price on SharkNinja from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group raised their price target on SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Guggenheim boosted their price objective on SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Bank of America increased their target price on SharkNinja from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, SharkNinja has a consensus rating of “Moderate Buy” and a consensus target price of $110.85.

Institutional Investors Weigh In On SharkNinja

Several large investors have recently bought and sold shares of the stock. William Blair Investment Management LLC purchased a new stake in shares of SharkNinja in the 2nd quarter valued at approximately $190,482,000. Thrivent Financial for Lutherans increased its holdings in SharkNinja by 29.0% in the second quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock valued at $127,450,000 after buying an additional 380,926 shares during the last quarter. Wolf Hill Capital Management LP raised its stake in SharkNinja by 4.1% in the first quarter. Wolf Hill Capital Management LP now owns 1,405,343 shares of the company’s stock valued at $87,539,000 after buying an additional 55,974 shares in the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in SharkNinja during the 1st quarter worth about $62,309,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of SharkNinja by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 750,434 shares of the company’s stock worth $56,401,000 after acquiring an additional 14,140 shares in the last quarter. Hedge funds and other institutional investors own 34.77% of the company’s stock.

SharkNinja Trading Down 3.4 %

The firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 1.60 and a beta of 1.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.71. The company has a 50-day moving average price of $103.41 and a 200-day moving average price of $84.97.

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.