J.P. Morgan analyst Andrea Faria Teixeira maintains $SharkNinja (SN.US)$ with a buy rating, and adjusts the target price from $128 to $120.
According to TipRanks data, the analyst has a success rate of 45.8% and a total average return of 0.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $SharkNinja (SN.US)$'s main analysts recently are as follows:
The quarter for SharkNinja was exceptionally strong, with sales surging by 35%, a figure that likely surpassed even the most optimistic forecasts. Although the significant revenue increase did not fully translate to the bottom line, which may have left some investors wanting more, there is a general willingness to overlook this as long as the company's additional investments are yielding visible returns. While there is an inclination to view the stock more favorably, the absence of a price pullback has resulted in a continued neutral stance, with an eye out for a potential catalyst to prompt a reassessment.
Following the significant drop in SharkNinja's share price after earnings, analysts recommend buying the stock. The company maintains robust sales growth, and its fourth-quarter forecasts appear to be rather understated. Additionally, SharkNinja is anticipated to be in a stronger position by 2025 compared to previous projections. Analysts suggest that investors should not overly fixate on the company's short-term profit maximization if it comes at the cost of compromising its core strength of developing innovative solutions for consumers and achieving quicker market penetration than its rivals.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
