SharkNinja (NYSE:SN) Shares Gap Up on Better-Than-Expected Earnings

SharkNinja, Inc. (NYSE:SN)’s share price gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $81.19, but opened at $89.40. SharkNinja shares last traded at $90.41, with a volume of 1,123,112 shares trading hands.

The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.14. SharkNinja had a return on equity of 32.51% and a net margin of 7.94%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company earned $1.06 earnings per share. SharkNinja’s revenue was up 14.7% compared to the same quarter last year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SN shares. Oppenheimer cut their price target on shares of SharkNinja from $130.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group dropped their price objective on SharkNinja from $133.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley boosted their price target on SharkNinja from $93.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Jefferies Financial Group raised their target price on shares of SharkNinja from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. dropped their price target on SharkNinja from $139.00 to $98.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.06.

Institutional Trading of SharkNinja

Several large investors have recently added to or reduced their stakes in SN. GAMMA Investing LLC boosted its holdings in shares of SharkNinja by 77.9% in the 1st quarter. GAMMA Investing LLC now owns 354 shares of the company’s stock worth $30,000 after acquiring an additional 155 shares in the last quarter. Harbour Investments Inc. boosted its stake in SharkNinja by 5,800.0% in the first quarter. Harbour Investments Inc. now owns 413 shares of the company’s stock worth $34,000 after purchasing an additional 406 shares in the last quarter. Quarry LP bought a new stake in shares of SharkNinja during the fourth quarter worth $47,000. Continuum Advisory LLC increased its stake in shares of SharkNinja by 6,875.0% in the fourth quarter. Continuum Advisory LLC now owns 558 shares of the company’s stock valued at $54,000 after buying an additional 550 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of SharkNinja in the fourth quarter valued at about $55,000. 34.77% of the stock is owned by institutional investors.

SharkNinja Trading Up 12.9 %

The company’s 50-day moving average is $81.96 and its 200-day moving average is $96.16. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.14 and a current ratio of 1.73. The firm has a market cap of $12.87 billion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 2.35 and a beta of 1.68.

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.