SharkNinja, Inc.: Balancing Growth and Challenges with a Hold Rating

In a report released yesterday, Megan Alexander from Morgan Stanley maintained a Hold rating on SharkNinja, Inc., with a price target of $110.00.

Megan Alexander’s rating is based on a combination of factors that reflect both positive and negative trends in SharkNinja, Inc.’s recent performance. The company has shown a notable improvement in its sales figures, with a 7% year-over-year growth in the latest two-week period, which includes a significant 18% increase in the most recent week. However, this growth is a deceleration compared to the previous period, where the year-over-year growth was 21.5%.
Despite strong performances in specific categories like fryers, carpet appliances, and coffee makers, there are areas of concern such as declines in other beverage makers and blenders. Additionally, while the total distribution points have increased by 7% year-over-year, the velocity has slightly decreased by 1%. These mixed results suggest a balanced outlook, justifying a Hold rating as the company navigates both growth opportunities and challenges.