Analyst Megan Alexander from Morgan Stanley maintained a Hold rating on SharkNinja, Inc. and increased the price target to $117.00 from $101.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Megan Alexander’s rating is based on the recent performance trends of SharkNinja, Inc.’s US scanner sales, which have shown a deceleration in growth. Despite a year-over-year increase of 13.7% in the latest two-week period, this is a slowdown from the previous 18.2% growth rate. The third-quarter-to-date sales are up 21% year-over-year, which is below the 23% trend observed two weeks prior, though still slightly above the 20% mark.
Additionally, while certain product categories like fryers, coffee makers, and carpet appliances have demonstrated strong year-over-year growth, the overall weekly two-year averages have declined compared to previous periods. This mixed performance, coupled with a modest increase in total distribution points and sales velocity, suggests a cautious outlook, justifying the Hold rating.