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 recent quarter's performance was notably strong, with sales surging by 35%, which likely exceeded even the more optimistic forecasts. While the substantial revenue increase did not fully translate to the bottom line, there is a consensus that the visible returns on the company's additional investments are satisfactory. Although there is a preference for a market dip to adopt a more constructive stance on the stock, the current position remains one of watchful waiting for a potential change-inducing catalyst.
The firm recommends purchasing shares of SharkNinja after a significant decline following the earnings announcement. The company is experiencing ongoing robust sales momentum, and its guidance for Q4 appears notably cautious. SharkNinja is also deemed to be in a stronger position for the year 2025 compared to previous forecasts. Analysts suggest that investors should not be overly concerned with the company's decision not to prioritize short-term profit gains over maintaining its core competency of delivering innovative solutions to consumer problems and achieving a faster time-to-market than its competitors.
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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