William Blair Has Strong Forecast for SharkNinja Q3 Earnings

SharkNinja, Inc. (NYSE:SN - Free Report) - Equities researchers at William Blair raised their Q3 2024 earnings per share estimates for SharkNinja in a report released on Thursday, October 24th. William Blair analyst P. Blee now forecasts that the company will post earnings per share of $1.03 for the quarter, up from their prior estimate 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.

SharkNinja (NYSE:SN - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.14. The business had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.08 billion. SharkNinja had a return on equity of 32.29% and a net margin of 5.16%. The business's quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 EPS.

Several other research analysts have also recently issued reports on SN. Guggenheim upped their price objective on SharkNinja from $100.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, October 7th. Bank of America upped their target price on SharkNinja from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, August 13th. The Goldman Sachs Group upped their target price on SharkNinja from $102.00 to $123.00 and gave the company a "buy" rating in a research report on Monday. Canaccord Genuity Group upped their target price on SharkNinja from $126.00 to $128.00 and gave the company a "buy" rating in a research report on Friday. Finally, JPMorgan Chase & Co. upped their target price on SharkNinja from $97.00 to $128.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. One research 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, SharkNinja has a consensus rating of "Moderate Buy" and an average price target of $109.05.

SharkNinja Stock Up 1.4 %

Shares of NYSE:SN traded up $1.53 on Friday, hitting $109.32. 896,408 shares of the company's stock were exchanged, compared to its average volume of 1,113,992. The firm's 50-day moving average is $101.79 and its 200 day moving average is $83.11. The company has a market capitalization of $15.30 billion, a PE ratio of 63.10, a P/E/G ratio of 1.91 and a beta of 0.77. SharkNinja has a 1-year low of $38.69 and a 1-year high of $112.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.71.

Institutional Trading of SharkNinja

Several institutional investors and hedge funds have recently added to or reduced their stakes in SN. Commonwealth Equity Services LLC purchased a new stake in SharkNinja during the 1st quarter valued at approximately $981,000. Capstone Investment Advisors LLC raised its stake in shares of SharkNinja by 275.5% during the 1st quarter. Capstone Investment Advisors LLC now owns 92,772 shares of the company's stock worth $5,779,000 after buying an additional 68,069 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of SharkNinja during the 1st quarter worth approximately $1,076,000. Essex LLC purchased a new position in shares of SharkNinja during the 1st quarter worth approximately $204,000. Finally, Mawer Investment Management Ltd. raised its stake in shares of SharkNinja by 123.1% during the 1st quarter. Mawer Investment Management Ltd. now owns 209,682 shares of the company's stock worth $13,061,000 after buying an additional 115,676 shares in the last quarter. 34.77% of the stock is owned by hedge funds and other institutional investors.

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.