Bank of America Securities analyst Alexander Perry reiterated a Buy rating on SharkNinja, Inc. yesterday and set a price target of $140.00.
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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 sales data, as indicated by Nielsen, shows a significant increase in sell-through rates, with a notable 16.5% growth in the third quarter to date. This performance suggests an upside potential beyond the current North America growth estimates.
SharkNinja’s strategic product launches, such as the new multi-hair styler “Shark Glam,” have been well-received, as evidenced by its substantial social media engagement. Additionally, the company is gaining market share in key categories like vacuums, coffee makers, and fans, outperforming the overall appliance market by a significant margin. These factors, combined with a favorable price objective of $140.00 compared to the current price of $119.34, reinforce the Buy recommendation.
In another report released on August 14, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $138.00 price target.