Street Calls of the Week
Investing.com - Canaccord Genuity has reiterated its Buy rating and $136.00 price target on SharkNinja (NYSE:SN) following proprietary research ahead of the company’s third-quarter results expected on November 6. According to InvestingPro data, analyst targets range from $117 to $175, suggesting significant upside potential from current levels. The stock’s RSI indicates oversold conditions, potentially presenting an attractive entry point.
The firm conducted checks at 85 SharkNinja wholesale locations, including Target, Best Buy, and Walmart stores to assess demand for products like Ninja Swirl by CREAMi and Ninja Crispi, while also visiting 30 Ulta Beauty locations for the Shark CryoGlow. Canaccord’s research included additional visits to 22 doors across nine retailers in the New York area to observe inventory levels and inquire about recent demand trends.
Recent U.S. scanner data through October 4 shows SharkNinja sales accelerated to 23% growth in Q3, up from 20% in Q2, which Canaccord believes should alleviate investor concerns. This growth aligns with the company’s impressive financial performance, with InvestingPro showing trailing twelve-month revenue of $5.88 billion and EBITDA of $832 million. The firm acknowledged potential timing impacts from Amazon Prime Day occurring earlier this year (July 8-11, 2025, versus July 16-17, 2024), which may have shifted some shipments from Q3 into Q2.
While some investors worry about retailers running tight inventories and potential consumption slowdowns—concerns amplified by Groupe SEB’s recent profit warning regarding U.S. retailers’ cautious approach—Canaccord observed that inventory issues were not widespread and demand for both Shark and Ninja brands remains strong. This view is supported by impressive Q3 web traffic growth of 52% and 21% for the Ninja and Shark brands, respectively. InvestingPro analysis reveals the company maintains strong financial health with a current ratio of 1.94 and operates with moderate debt levels. Get access to 10+ additional ProTips and comprehensive financial analysis through InvestingPro’s detailed research reports.
Canaccord slightly lowered its Q3 estimates to reflect some lighter inventories observed during its research, but maintains estimates above consensus and company guidance, believing current share prices already reflect more severe inventory concerns than actually exist. The company’s strong gross profit margin of 48.4% and return on equity of 27% suggest robust operational efficiency despite near-term challenges.
In other recent news, SharkNinja has launched a redesigned direct-to-consumer website, combining its Shark and Ninja brands into a single platform at SharkNinja.com. The new website offers intuitive navigation and integrated social content to enhance product discovery, along with a dedicated support hub for warranty and accessory information. Additionally, JPMorgan has added SharkNinja to its Analyst Focus List as a Growth Idea, maintaining an Overweight rating despite recent stock declines, viewing the situation as a buying opportunity for medium to long-term investors. In a strategic move, comedian Kevin Hart has joined SharkNinja as a global brand ambassador, alongside David Beckham. This partnership will feature a digital series showcasing SharkNinja products in everyday scenarios, developed in collaboration with Hart’s entertainment company, Hartbeat. Furthermore, the company announced the resignation of Chief Financial Officer Patraic Reagan, effective September 5, 2025, clarifying that his departure is not due to any disputes with the company or its Board of Directors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.