Intel stock extends gains after report of possible U.S. government stake
Investing.com - Canaccord Genuity raised its price target on SharkNinja (NYSE:SN) to $136.00 from $127.00 on Thursday, while maintaining a Buy rating on the stock. The company, now valued at $15.59 billion, has delivered impressive returns with a 53.74% gain over the past year. According to InvestingPro data, analysts maintain a Strong Buy consensus on the stock.
The firm’s channel checks at 83 wholesale locations revealed strong early demand for new products, including the Ninja Swirl by CREAMi and Ninja Crispi. Despite low inventory levels for these items, Canaccord noted this aligns with SharkNinja’s product launch strategy of creating "scarcity value and buzz" rather than aiming for immediate high-volume sales. This strategy appears effective, as the company has achieved 27.33% revenue growth in the last twelve months, with a healthy current ratio of 1.97.
Canaccord also monitored 30 Ulta Beauty (NASDAQ:ULTA) locations for the Shark CryoGlow LED face mask, priced at $350, finding it has gained "significant attention" in its first few months. The firm believes the product is positioned to take market share from competitors at both lower and higher price points, including Skin Gym ($99) and Therabody ($650).
The research firm cited "continued robust (+DD%) web traffic data" as a factor bolstering its confidence in SharkNinja’s prospects, leading to raised estimates for the company.
Canaccord Genuity described SharkNinja as a "2025 focus stock" and a "multi-year compounder" suitable for mid-cap growth and GARP (Growth At Reasonable Price) investors, with the analyst’s comments coming ahead of SharkNinja’s second-quarter results expected in early August. InvestingPro analysis reveals the company maintains a GREAT financial health score, with 12 additional investment tips available for subscribers looking to dive deeper into SharkNinja’s growth potential.
In other recent news, SharkNinja has reported a notable increase in revenue for the first quarter of 2025, with net sales rising 14.7% year-over-year to $1.2 billion, surpassing revenue forecasts of $965 million. Despite the strong revenue performance, the company’s earnings per share (EPS) fell short of expectations, coming in at $0.87 compared to the forecasted $0.95. Analysts at Canaccord Genuity and BofA Securities have maintained their Buy ratings on SharkNinja, citing the company’s strong market share gains and robust product innovation as key factors for continued growth. William Blair also reiterated an Outperform rating, highlighting ongoing challenges related to tariffs and inventory shortages that could impact short-term performance.
SharkNinja is facing inventory constraints due to a temporary pause on orders from China, affecting the availability of key products under the Ninja brand. However, a 90-day truce with China is expected to improve inventory availability, although it may take several weeks for products to reach shelves. The company is actively diversifying its supply chain and considering domestic production for certain products to mitigate these challenges. Additionally, SharkNinja has raised prices on about 32% of its product range to preserve inventory, which may affect short-term demand.
Despite these challenges, SharkNinja continues to demonstrate resilience, with recent Nielsen data showing a 10.6% year-over-year increase in sell-through during the second quarter to date. The company is gaining market share across several product categories, with significant growth in fryers, hair dryers, and fans. Analysts at BofA Securities have expressed confidence in SharkNinja’s market position and potential for continued growth, supported by the company’s strategic initiatives and innovation pipeline.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.