Bank of America raised its price target on SharkNinja to $165 from $145, reiterating a buy rating, after Nielsen point-of-sale data showed domestic sell-through jumped 51.5% year over year for the two weeks ending June 27. The surge was driven by the earlier timing of Amazon Prime Day and viral interest in products like the Ninja SLUSHi and Shark ChillPill. SharkNinja's second-quarter domestic sell-through is now tracking up 25.7%, well above the 2.6% industry growth rate, prompting the firm to raise its target. The stock, already up more than 36% year to date, traded near $152, with the new target implying about 8.5% upside. BofA noted that direct-to-consumer platforms add an estimated 200 to 300 basis points to sales growth, amplifying the impact of viral moments on TikTok.
SharkNinja, Inc.Nielsen data shows SharkNinja's domestic sell-through surged 51.5% YoY, driven by Prime Day and viral products, leading to a price target raise.
Amazon.com Inc
Bank of America Corp