Morgan Stanley analyst Megan Alexander downgrades $SharkNinja (SN.US)$ to a hold rating, and sets the target price at $93.
According to TipRanks data, the analyst has a success rate of 46.3% and a total average return of -0.8% 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 was exceptionally strong, with a sales increase of 35%, which likely surpassed even the more optimistic forecasts. While the translation of this growth into net earnings might not have fully met expectations, it's believed that as long as the company's additional investments are yielding visible returns, the sentiment remains generally positive. The stance on the company is one of cautious observation, awaiting a catalyst that could justify a more bullish position.
The recent sharp selloff post-earnings is seen as a buying opportunity for SharkNinja. The company is maintaining strong sales momentum and its forecast for Q4 appears to be particularly conservative. Looking ahead to 2025, the company's positioning is favorable compared to previous projections. The focus on sustaining its core competency of delivering consumer problem-solving innovations and rapid market entry is emphasized, rather than prioritizing short-term profit gains.
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.
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