SharkNinja (NYSE:SN) Updates 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SN shares. Canaccord Genuity Group increased their target price on SharkNinja from $126.00 to $128.00 and gave the company a “buy” rating in a report on Friday, October 25th. The Goldman Sachs Group increased their price objective on SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Oppenheimer began coverage on shares of SharkNinja in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 target price for the company. Jefferies Financial Group raised their price target 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, Bank of America upped their price objective on shares of SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $110.85.

SharkNinja Trading Down 3.4 %

Shares of 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. SharkNinja has a 12-month low of $41.12 and a 12-month high of $112.93. The firm has a market cap of $12.47 billion, a P/E ratio of 34.95, a P/E/G ratio of 1.60 and a beta of 1.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.71. 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 released its quarterly earnings data 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 company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the business posted $0.95 EPS. The company’s quarterly revenue was up 33.3% compared to the same quarter last year. Equities research analysts forecast that SharkNinja will post 3.9 EPS for the current fiscal 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.