SharkNinja (NYSE:SN) Issues FY24 Earnings Guidance

SharkNinja (NYSE:SN) updated its FY24 earnings guidance on Thursday. 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 Stock Performance

SN traded down $3.09 during trading hours on Friday, hitting $89.12. The stock had a trading volume of 4,760,236 shares, compared to its average volume of 1,337,842. The stock has a market cap of $12.47 billion, a PE ratio of 34.95, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. SharkNinja has a 1 year low of $41.12 and a 1 year high of $112.93. The company has a quick ratio of 1.04, a current ratio of 1.71 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $103.41 and its 200 day simple moving average is $84.97.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday. Bank of America increased their price target on shares of SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Canaccord Genuity Group lifted their price objective on SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, October 25th. 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, Guggenheim boosted their price target on SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.85.

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.