SharkNinja (NYSE:SN) Announces Quarterly Earnings Results

SharkNinja (NYSE:SN) released its earnings results on Thursday. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.04 by $0.17, Briefing.com reports. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.31 billion. SharkNinja had a net margin of 5.16% and a return on equity of 32.29%. The business’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 earnings per share. SharkNinja updated its FY24 guidance to $4.13-4.24 EPS and its FY 2024 guidance to 4.130-4.240 EPS.

SharkNinja Stock Down 16.9 %

Shares of NYSE SN traded down $18.70 during trading hours on Thursday, hitting $92.22. The stock had a trading volume of 7,576,394 shares, compared to its average volume of 1,145,733. The firm’s 50-day moving average price is $103.42 and its two-hundred day moving average price is $84.63. SharkNinja has a 52 week low of $40.27 and a 52 week high of $112.93. The company has a market capitalization of $12.91 billion, a P/E ratio of 53.00, a P/E/G ratio of 1.90 and a beta of 0.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.71.

Analyst Ratings Changes

SN has been the subject of several research reports. The Goldman Sachs Group raised their price objective on SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Oppenheimer started coverage on SharkNinja in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on SharkNinja from $97.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Guggenheim raised their target price on shares of SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Canaccord Genuity Group boosted their price target on shares of SharkNinja from $126.00 to $128.00 and gave the company a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $109.05.

SharkNinja Company Profile

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.