Bank of America Securities analyst Alexander Perry maintained 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 including strong sales performance and positive retailer feedback. According to Nielsen’s point of sale data, SharkNinja has seen a significant increase in sell-through rates, with a notable 16.2% and 15.2% rise for the weeks ending August 16 and August 23, respectively. This upward trend has been further supported by mentions from major retailers like Target, Ulta, and Best Buy during the earnings season.
SharkNinja’s market performance is also impressive, as it continues to gain market share and outperform the overall appliance market by approximately 14 percentage points in the third quarter. The company’s recent product launches, such as the “Shark Glam” multi-hair styler, have also contributed to its strong market presence. Additionally, the correlation between Nielsen spending data and North American sales suggests potential upside risk to growth estimates, reinforcing the Buy rating.
In another report released on August 29, Canaccord Genuity also maintained a Buy rating on the stock with a $136.00 price target.