SharkNinja (NYSE:SN) Shares Gap Down – Should You Sell?

SharkNinja, Inc. (NYSE:SN) shares gapped down before the market opened on Thursday . The stock had previously closed at $88.43, but opened at $77.07. SharkNinja shares last traded at $70.59, with a volume of 996,114 shares changing hands.

Analyst Ratings Changes

Several research analysts have weighed in on SN shares. Canaccord Genuity Group boosted their price objective on SharkNinja from $129.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. boosted their price target on shares of SharkNinja from $120.00 to $127.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Jefferies Financial Group increased their price target on shares of SharkNinja from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley lifted their price objective on shares of SharkNinja from $93.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, SharkNinja presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.50.

SharkNinja Stock Performance

The company has a 50-day moving average price of $100.41 and a two-hundred day moving average price of $102.01. The company has a market capitalization of $10.07 billion, a PE ratio of 23.14, a PEG ratio of 2.35 and a beta of 1.24. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.38.

SharkNinja (NYSE:SN) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.06). SharkNinja had a net margin of 7.94% and a return on equity of 32.51%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. Analysts predict that SharkNinja, Inc. will post 4.52 EPS for the current fiscal year.

Institutional Investors Weigh In On SharkNinja

Large investors have recently added to or reduced their stakes in the business. FMR LLC increased its stake in SharkNinja by 59.8% in the 4th quarter. FMR LLC now owns 16,467,858 shares of the company’s stock worth $1,603,311,000 after acquiring an additional 6,160,226 shares during the last quarter. HighTower Advisors LLC raised its stake in SharkNinja by 42.9% in the fourth quarter. HighTower Advisors LLC now owns 7,179,756 shares of the company’s stock valued at $699,021,000 after purchasing an additional 2,155,136 shares in the last quarter. William Blair Investment Management LLC lifted its position in SharkNinja by 26.4% during the fourth quarter. William Blair Investment Management LLC now owns 2,827,340 shares of the company’s stock valued at $275,270,000 after purchasing an additional 590,632 shares during the last quarter. Baillie Gifford & Co. grew its stake in SharkNinja by 33.1% in the 4th quarter. Baillie Gifford & Co. now owns 2,430,185 shares of the company’s stock worth $236,603,000 after buying an additional 604,559 shares in the last quarter. Finally, Palestra Capital Management LLC increased its holdings in shares of SharkNinja by 83.4% in the 4th quarter. Palestra Capital Management LLC now owns 1,780,785 shares of the company’s stock worth $173,377,000 after buying an additional 809,960 shares during the last quarter. Institutional investors own 34.77% of the company’s stock.

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.