SharkNinja, Inc.: Strong Market Position and Strategic Growth Initiatives Drive Buy Rating

Analyst Alexander Perry from Bank of America Securities reiterated a Buy rating on SharkNinja, Inc. (SN – Research Report) and increased the price target to $125.00 from $120.00.

Alexander Perry has given his Buy rating due to a combination of factors including SharkNinja, Inc.’s continued market share gains and expected rebound in the second half of the year. Despite a deceleration in sales growth in May, the company has shown strong performance in specific product categories such as fryers, hair dryers, and fans. This indicates a robust underlying demand for its products.
Furthermore, the temporary pause in shipments from China, due to high tariffs, is anticipated to have only a short-term impact, with a resumption expected to bolster sales in the latter half of the year. Perry also highlights the company’s strategic moves, such as a strong product launch schedule and new production capacity in Southeast Asia, which are likely to drive future growth. The lowered tariffs are expected to improve profitability, and the company is positioned to capitalize on promotional strategies to capture market share from smaller competitors.

In another report released on May 19, Jefferies also maintained a Buy rating on the stock with a $175.00 price target.