Jefferies analysts initiated coverage on SharkNinja (NYSE:SN) with a Buy rating and a price target set at $67. As a result, shares gained more than 4% pre-market today. The analysts highlighted SharkNinja’s promising position in the market, driven by its global rapid innovation and commercialization strategy.
They believe that this unique approach will enable SharkNinja to not only strengthen its foothold in existing product categories but also explore new ones.
The analysts are optimistic about SharkNinja’s potential for market expansion, citing the company’s rapidly growing portfolio of brands and its successful international expansion efforts. They predict substantial top-line growth opportunities and a rising profit margin for the company.