William Blair Has Bullish Outlook for SharkNinja Q3 Earnings

SharkNinja, Inc. (NYSE:SN) – Analysts at William Blair upped their Q3 2024 EPS estimates for SharkNinja in a research report issued to clients and investors on Thursday, October 24th. William Blair analyst P. Blee now anticipates that the company will post earnings per share of $1.03 for the quarter, up from their prior forecast of $0.98. The consensus estimate for SharkNinja’s current full-year earnings is $3.89 per share. William Blair also issued estimates for SharkNinja’s Q4 2024 earnings at $1.30 EPS and FY2024 earnings at $3.91 EPS.

Several other research firms have also issued reports on SN. Bank of America raised their price target on SharkNinja from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Oppenheimer initiated coverage on shares of SharkNinja in a report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 target price on the stock. Jefferies Financial Group upped their price target on shares of SharkNinja from $115.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of SharkNinja from $97.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, The Goldman Sachs Group boosted their price objective on shares of SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.05.

SharkNinja Stock Up 1.4 %

Shares of NYSE:SN opened at $109.32 on Friday. The stock has a market capitalization of $15.30 billion, a P/E ratio of 62.83, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. The stock’s 50-day moving average price is $102.15 and its 200-day moving average price is $83.55. The company has a current ratio of 1.71, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. SharkNinja has a 12-month low of $38.69 and a 12-month high of $112.65.

SharkNinja (NYSE:SN) last released its earnings results on Thursday, August 8th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.57 by $0.14. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.08 billion. SharkNinja had a net margin of 5.16% and a return on equity of 32.29%. The firm’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 EPS.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SN. William Blair Investment Management LLC purchased a new position in SharkNinja in the second quarter worth about $190,482,000. Thrivent Financial for Lutherans increased its position in shares of SharkNinja by 29.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock valued at $127,450,000 after acquiring an additional 380,926 shares in the last quarter. Wolf Hill Capital Management LP raised its holdings in SharkNinja by 4.1% in the 1st quarter. Wolf Hill Capital Management LP now owns 1,405,343 shares of the company’s stock worth $87,539,000 after acquiring an additional 55,974 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new position in SharkNinja in the 1st quarter valued at approximately $62,309,000. Finally, Dimensional Fund Advisors LP boosted its stake in SharkNinja by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 750,434 shares of the company’s stock valued at $56,401,000 after purchasing an additional 14,140 shares during the last quarter. Hedge funds and other institutional investors own 34.77% of the company’s stock.

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.