SharkNinja (NYSE:SN) Updates FY 2024 Earnings Guidance

SharkNinja (NYSE:SN - Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. 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 Down 16.9 %

Shares of SN traded down $18.70 on Thursday, reaching $92.22. The company's stock had a trading volume of 7,576,394 shares, compared to its average volume of 1,145,733. 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 twelve month low of $40.27 and a twelve month high of $112.93. The stock has a market capitalization of $12.91 billion, a PE ratio of 56.14, a PEG ratio of 1.90 and a beta of 0.77. The firm has a fifty day moving average of $103.38 and a 200-day moving average of $84.57.

SharkNinja (NYSE:SN - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.14. SharkNinja had a net margin of 5.16% and a return on equity of 32.29%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business posted $0.46 EPS. The firm's revenue was up 31.4% compared to the same quarter last year. Equities analysts predict that SharkNinja will post 3.9 EPS for the current year.

Analyst Upgrades and Downgrades

SN has been the subject of several analyst reports. Oppenheimer initiated coverage on shares of SharkNinja in a research note on Tuesday, October 1st. They issued an "outperform" rating and a $120.00 price objective for the company. Guggenheim increased their price objective on shares of SharkNinja from $100.00 to $120.00 and gave the company a "buy" rating in a research note on Monday, October 7th. Canaccord Genuity Group increased their price objective on shares of SharkNinja from $126.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on shares of SharkNinja from $97.00 to $128.00 and gave the company an "overweight" rating in a research note on Monday, September 30th. Finally, Bank of America increased 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 investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, SharkNinja presently has a consensus rating of "Moderate Buy" and an average price target of $109.05.

SharkNinja Company Profile

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.