Mixed Sales Performance Leads to Hold Rating for SharkNinja, Inc.

SharkNinja, Inc. (SN – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst Megan Alexander from Morgan Stanley maintained a Hold rating on the stock and has a $101.00 price target.

Megan Alexander’s rating is based on a combination of factors, including the recent performance of SharkNinja, Inc.’s sales. The company’s US scanner sales, which include Amazon 1P data, showed a year-over-year growth of 7.5% over the latest two weeks and 5.4% in the last week. However, this growth is a deceleration compared to the previous four-week period, which saw an 8.9% increase, down from 11.9% in the prior period.
Furthermore, while certain product categories like toasters and air cleaners/purifiers experienced significant growth, the overall sales velocity declined by 2.4%. This mixed performance suggests that while there are areas of strong growth, there are also challenges that may impact future performance. Therefore, Megan Alexander has given a Hold rating, indicating a cautious approach due to these mixed signals in the company’s recent sales data.

According to TipRanks, Alexander is a 4-star analyst with an average return of 6.4% and a 60.92% success rate. Alexander covers the Consumer Cyclical sector, focusing on stocks such as Vail Resorts, SharkNinja, Inc., and Topgolf Callaway Brands.