SharkNinja (NYSE:SN) Releases FY 2024 Earnings Guidance

SharkNinja (NYSE:SN) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 4.050-4.210 for the period, compared to the consensus estimate of 3.870. The company issued revenue guidance of $5.1 billion-$5.2 billion, compared to the consensus revenue estimate of $4.8 billion.

SharkNinja Price Performance

Shares of SN traded up $2.28 during trading hours on Friday, reaching $87.64. 3,697,541 shares of the company traded hands, compared to its average volume of 1,094,359. The company has a quick ratio of 1.09, a current ratio of 1.92 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $12.26 billion and a PE ratio of 64.92. SharkNinja has a fifty-two week low of $29.42 and a fifty-two week high of $91.43. The stock has a fifty day simple moving average of $75.73 and a 200 day simple moving average of $65.88.

SharkNinja (NYSE:SN) last issued its quarterly earnings results on Thursday, May 9th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.11. SharkNinja had a return on equity of 29.62% and a net margin of 4.25%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $949.88 million. During the same period last year, the company earned $0.86 EPS. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. As a group, research analysts predict that SharkNinja will post 3.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. The Goldman Sachs Group raised their price target on SharkNinja from $74.00 to $83.00 and gave the stock a buy rating in a research note on Monday, May 13th. Bank of America began coverage on SharkNinja in a research note on Thursday, May 16th. They issued a buy rating and a $90.00 price objective on the stock. China Renaissance initiated coverage on SharkNinja in a research note on Wednesday, May 29th. They issued a buy rating on the stock. UBS Group raised their target price on SharkNinja from $76.00 to $83.50 and gave the company a buy rating in a report on Friday, May 10th. Finally, Canaccord Genuity Group raised their target price on SharkNinja from $82.00 to $90.00 and gave the company a buy rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $75.56.

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.