SharkNinja (NYSE:SN) Releases FY24 Earnings Guidance

SharkNinja (NYSE:SN) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.13-4.24 for the period, compared to the consensus 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.

SharkNinja Price Performance

SN stock opened at $89.12 on Friday. The company has a fifty day moving average price of $103.41 and a 200-day moving average price of $84.97. The company has a market capitalization of $12.47 billion, a P/E ratio of 34.95, a PEG ratio of 1.60 and a beta of 1.04. SharkNinja has a 52-week low of $41.12 and a 52-week high of $112.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.71.

SharkNinja (NYSE:SN) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.17. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.31 billion. SharkNinja had a net margin of 7.02% and a return on equity of 33.74%. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 earnings per share. As a group, equities analysts expect that SharkNinja will post 3.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SN. JPMorgan Chase & Co. lowered their target price on shares of SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday. Canaccord Genuity Group lifted their target price on shares of SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Oppenheimer began coverage on shares of SharkNinja in a research note on Tuesday, October 1st. They set an “outperform” rating and a $120.00 target price for the company. Jefferies Financial Group lifted their target price on shares of SharkNinja from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group lifted their target price on shares of SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, SharkNinja currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.85.

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.