In a report released yesterday, Alexander Perry from Bank of America Securities maintained a Buy rating on SharkNinja, Inc., with a price target of $130.00.
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Alexander Perry has given his Buy rating due to a combination of factors, primarily driven by SharkNinja’s strong performance in the domestic market. The upward revision in Nielsen’s point of sale data indicates a significant increase in sales, with growth rates of 34.9% and 19.5% for the weeks ending July 5th and 12th, respectively. This revision suggests a 15.8% year-over-year growth for the second quarter, surpassing previous estimates and indicating potential upside to the North American revenue projections.
SharkNinja’s ability to outperform the overall appliance market by approximately 13 percentage points in the second quarter and 19 percentage points in early July further supports the Buy rating. The company’s strong market share gains in key categories such as vacuums, coffee makers, and fans demonstrate its competitive edge and robust sales momentum. These factors, along with improved inventory availability following a pause in shipments from China, contribute to a positive outlook for SharkNinja’s stock performance.
In another report released on July 21, Goldman Sachs also maintained a Buy rating on the stock with a $126.00 price target.
SN’s price has also changed slightly for the past six months – from $111.650 to $117.150, which is a 4.93% increase.