SharkNinja (NYSE:SN) Releases FY 2024 Earnings Guidance

SharkNinja (NYSE:SN) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 4.130-4.240 for the period, compared to the consensus EPS estimate of 4.250. The company issued revenue guidance of $5.3 billion-$5.3 billion, compared to the consensus revenue estimate of $5.2 billion. SharkNinja also updated its FY24 guidance to $4.13-4.24 EPS.

SharkNinja Stock Performance

Shares of SharkNinja stock traded down $3.09 on Friday, reaching $89.12. 4,760,236 shares of the stock were exchanged, compared to its average volume of 1,337,842. The company has a current ratio of 1.71, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $12.47 billion, a PE ratio of 34.95, a PEG 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 business has a fifty day moving average price of $103.41 and a two-hundred day moving average price of $84.97.

SharkNinja (NYSE:SN) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.21 earnings per share 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 for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company posted $0.95 earnings per share. SharkNinja’s quarterly revenue was up 33.3% on a year-over-year basis. As a group, research analysts anticipate that SharkNinja will post 3.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Friday. JPMorgan Chase & Co. reduced their price target on shares of SharkNinja from $128.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday. Oppenheimer initiated coverage on shares of SharkNinja in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price target on the stock. The Goldman Sachs Group lifted their price objective on SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Bank of America increased their target price on SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.