Analyst Alexander Perry from Bank of America Securities maintained a Buy rating on SharkNinja, Inc. (SN – Research Report) and keeping the price target at $120.00.
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’s point-of-sale data shows no signs of slowing down, with significant year-over-year increases in sell-through rates, particularly in core categories like blenders, vacuums, and fryers. This growth is further supported by SharkNinja’s ability to gain market share and outperform overall market growth.
Despite potential risks from tariffs on China and Southeast Asia, SharkNinja has strategically shifted production to other regions, mitigating these concerns. The company’s strong social media presence, particularly on platforms like TikTok, and consistent positive web traffic trends also contribute to its favorable outlook. Additionally, SharkNinja’s pricing strategy, offering products at a discount compared to competitors, enhances its appeal in the market. These factors collectively justify the Buy rating, reflecting confidence in the company’s continued momentum and attractive valuation.
In another report released on April 11, J.P. Morgan also maintained a Buy rating on the stock with a $98.00 price target.
SN’s price has also changed moderately for the past six months – from $105.120 to $73.660, which is a -29.93% drop .