SharkNinja (NYSE:SN) Updates FY24 Earnings Guidance

SharkNinja (NYSE:SN) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $4.13-4.24 for the period, compared to the consensus EPS estimate of $4.24. The company issued revenue guidance of +25-26% yr/yr to ~$5.22-5.26 billion, compared to the consensus revenue estimate of $5.23 billion. SharkNinja also updated its FY 2024 guidance to 4.130-4.240 EPS.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Oppenheimer started coverage on SharkNinja in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday. Guggenheim boosted their price objective on SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, Morgan Stanley lifted their target price on SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $110.85.

SharkNinja Trading Down 3.4 %

Shares of SharkNinja stock traded down $3.09 during trading on Friday, reaching $89.12. The company’s stock had a trading volume of 4,760,236 shares, compared to its average volume of 1,337,842. SharkNinja has a 52-week low of $41.12 and a 52-week high of $112.93. The company has a market cap of $12.47 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 1.60 and a beta of 1.04. The firm’s 50-day moving average is $103.41 and its two-hundred day moving average is $84.97. The company has a quick ratio of 1.04, a current ratio of 1.71 and a debt-to-equity ratio of 0.46.

SharkNinja (NYSE:SN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.17. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.31 billion. SharkNinja had a net margin of 7.02% and a return on equity of 33.74%. The firm’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 EPS. On average, sell-side analysts anticipate that SharkNinja will post 3.9 earnings per share for the current year.

About SharkNinja

SharkNinja, Inc, a product design and technology company, engages in the provision of various solutions for consumers worldwide. It offers cleaning appliances, including corded and cordless vacuums, including handheld and robotic vacuums, as well as other floorcare products comprising steam mops, wet/dry cleaning floor products, and carpet extraction; cooking and beverage appliances, such as air fryers, multi-cookers, outdoor and countertop grills and ovens, coffee systems, carbonation, cookware, cutlery, kettles, toasters and bakeware; food preparation appliances comprising blenders, food processors, ice cream makers, and juicers; and beauty appliances, such as hair dryers and stylers, as well as home environment products comprising air purifiers and humidifiers.