BofA lifts price target on SharkNinja to $165 citing 51.5% year-over-year sell-through growth driven by Prime Day demand.
Bank of America increased its price target for SharkNinja to $165 from $145, maintaining a buy rating. The adjustment follows strong sell-through data, with domestic sales rising 51.5% year over year for the weeks ending June 20 and June 27, driven by Amazon Prime Day and viral product interest.
Nielsen point-of-sale data showed a 17% increase for the week ending June 20 and an 86.2% jump for the week ending June 27. Popular products like the Ninja SLUSHi and Shark ChillPill contributed to the surge. SharkNinja’s stock has performed well, trading near its 52-week high of $154.04, with the latest print at $152.125.
The raised target reflects confidence in the company’s multi-channel sales strategy, which leverages retail events and social media traction to boost demand.