This consumer products manufacturer has a successful track record of market disruption and growth across categories, according to Goldman Sachs.
SharkNinja 's history of innovation will set its stock for an extremely positive growth outlook, according to Goldman Sachs. The investment bank initiated coverage of the consumer products company with a buy rating, setting a 12-month price target of $52. That implies nearly 28% upside from the stock's Tuesday close. Since listing on the New York Stock Exchange at $30 a share this summer , SharkNinja has rallied 36%.
"Looking ahead, we believe the company's innovation focus will enable growth even against a choppy macro backdrop, evidenced by SN's ability to outperform peers in 2022 and 2023 YTD on strength in beauty / outdoor," she wrote. Meanwhile, the analyst highlighted the company's success in entering new categories, which could also provide incremental growth opportunities.
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