SharkNinja Inc (NYSE:SN.) received a higher price target from Bank of America, which raised its price objective to $165 from $145 and reiterated its 'Buy' rating after stronger domestic sales trends lifted its second quarter sell-through estimates.
Shares of SharkNinja currently trade at about $150, up almost 35% so far this year.
The firm wrote that Nielsen point-of-sale data showed domestic SharkNinja product sell-through increased 17% and 86.2% for the weeks ending June 20 and June 27, respectively. On a combined basis, sell-through rose 51.5% year over year, supported by the timing of Amazon's Prime Day and upward revisions to prior weeks.
Bank of America wrote that SharkNinja's second quarter 2026 domestic sell-through is now tracking at 25.7%, up from 18.4% two weeks earlier and well ahead of estimated industry growth of 2.6%.
Based on the stronger sales performance, the firm’s improved price target was reached by applying an approximately 23x price-to-earnings multiple to the its 2027 earnings estimate, compared with 20x previously.
The analysts also highlighted SharkNinja's direct-to-consumer business, with the firm estimating those channels contribute 200 to 300 basis points to overall sales growth.
Bank of America wrote that several SharkNinja products have recently gained traction on TikTok, aided by summer demand and influencer engagement. The analysts pointed to strong online interest in products including the Ninja SLUSHi, ChillPill, and Ninja Frost Vault Cooler, with multiple videos generating millions of views in recent weeks.
The firm also highlighted top-selling products on SharkNinja's TikTok Shop, including the Ninja Single-Serve Specialty Coffee Maker, Ninja Belgian Waffle Maker Pro, Ninja SLUSHi Professional Frozen Drink Maker, and Shark HydroDuo and Shark StainStriker cleaning products.