Bank of America Securities analyst Alexander Perry maintained a Buy rating on SharkNinja, Inc. (SN – Research Report) today and set a price target of $140.00.
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 has demonstrated robust near-term growth, both domestically and internationally, with sales data indicating a significant outperformance compared to the broader market. This is supported by strong point-of-sale data and Nielsen reports showing substantial year-over-year increases in key product categories.
Moreover, SharkNinja is poised to benefit from new product launches in 2025, which are expected to drive further growth. The company plans to introduce 25 new products, expanding into two new subcategories, which aligns with its strategy of scaling products over a two-year period. Additionally, SharkNinja’s international expansion, particularly in France, Germany, and Mexico, presents significant revenue opportunities. Despite recent stock pullbacks, the current valuation at 15 times earnings presents an attractive investment opportunity, reinforced by the company’s strong momentum and strategic initiatives.
Perry covers the Consumer Cyclical sector, focusing on stocks such as Camping World Holdings, Thor Industries, and Topgolf Callaway Brands. According to TipRanks, Perry has an average return of -1.9% and a 40.52% success rate on recommended stocks.
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