Morgan Stanley analyst Megan Alexander maintained a Hold rating on SharkNinja, Inc. (SN – Research Report) yesterday and set a price target of $101.00.
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Megan Alexander’s rating is based on a combination of factors including the recent sales growth trends of SharkNinja, Inc. While the company has shown an acceleration in sales growth in recent periods, the overall growth is still experiencing a sequential deceleration compared to previous quarters. This mixed performance suggests that while there is positive momentum, there are also underlying challenges that could impact future growth.
Furthermore, although certain product categories such as toasters and hair dryers have demonstrated strong year-over-year growth, the overall velocity increase is modest. This indicates that while there are areas of strength, the broader market performance is not uniformly robust. These factors contribute to a balanced outlook, leading to a Hold rating as the company navigates both opportunities and potential headwinds.
SN’s price has also changed slightly for the past six months – from $97.900 to $94.430, which is a -3.54% drop .