Bank of America Securities analyst Alexander Perry has reiterated their bullish stance on SN stock, giving a Buy rating on July 3.
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Alexander Perry has given his Buy rating due to a combination of factors that highlight SharkNinja, Inc.’s strong market performance and growth potential. The company’s recent sales data, as reported by Nielsen, indicates a significant increase in sell-through, surpassing the guidance for North American growth. This improvement is attributed to better inventory availability and strong performance in core categories like vacuums, which have been tracking well above the overall growth trend.
Additionally, SharkNinja’s strategic marketing efforts, including viral social media campaigns and a high-profile sponsorship in the F1 movie, are expected to enhance its global brand presence. The company’s expansion into key European markets, coupled with the successful launch of limited-edition products, further supports its growth trajectory. These factors, combined with a favorable valuation based on projected earnings, underpin Perry’s Buy rating and the increased price objective.
In another report released on July 3, Canaccord Genuity also maintained a Buy rating on the stock with a $127.00 price target.