Analyst Megan Alexander of Morgan Stanley maintained a Hold rating on SharkNinja, Inc., retaining the price target of $101.00.
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Megan Alexander’s rating is based on the recent performance metrics of SharkNinja, Inc. The company’s sales growth has shown a notable increase, with year-over-year sales rising by 23.4% in the most recent two-week period ending June 28, and a 20.7% increase in the latest week. Over a four-week period, sales growth was up by 19.4%, which is a significant improvement from the previous four-week period’s 10.1% growth.
Despite these positive trends in sales, the quarterly retail takeaway growth slowed down to 14% in the second quarter compared to 25% in the first quarter. This deceleration in quarterly growth might be a factor contributing to the Hold rating. Additionally, while certain product categories like carpet/upholstery appliances and toasters have seen substantial year-over-year growth, the overall market conditions and potential future performance uncertainties may have led to a more cautious outlook.