William Blair Has Strong Estimate for SharkNinja Q3 Earnings

SharkNinja, Inc. (NYSE:SN) – Equities researchers at William Blair upped their Q3 2024 earnings estimates for SharkNinja in a report released on Thursday, October 24th. William Blair analyst P. Blee now expects that the company will earn $1.03 per share for the quarter, up from their previous 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.

Other analysts have also issued reports about the stock. Oppenheimer assumed coverage on shares of SharkNinja in a report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price objective for the company. The Goldman Sachs Group boosted their price target on SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. boosted their target price on SharkNinja from $97.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Jefferies Financial Group increased their price objective on shares of SharkNinja from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Guggenheim lifted their target price on shares of SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.05.

SharkNinja Price Performance

Shares of SharkNinja stock opened at $109.32 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.71 and a debt-to-equity ratio of 0.46. SharkNinja has a 52 week low of $38.69 and a 52 week high of $112.65. The company has a market cap of $15.30 billion, a PE ratio of 62.83, a P/E/G ratio of 1.91 and a beta of 0.77. The business has a 50 day moving average of $101.79 and a 200 day moving average of $83.11.

SharkNinja (NYSE:SN) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.14. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $0.46 earnings per share.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Signaturefd LLC boosted its position in SharkNinja by 104.6% in the third quarter. Signaturefd LLC now owns 356 shares of the company’s stock worth $39,000 after purchasing an additional 182 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of SharkNinja by 9.4% in the 1st quarter. SG Americas Securities LLC now owns 4,418 shares of the company’s stock worth $275,000 after purchasing an additional 380 shares during the period. Waldron Private Wealth LLC purchased a new position in shares of SharkNinja in the third quarter worth approximately $65,000. Picton Mahoney Asset Management bought a new stake in SharkNinja during the second quarter valued at approximately $70,000. Finally, Fortis Group Advisors LLC increased its holdings in SharkNinja by 11.4% during the third quarter. Fortis Group Advisors LLC now owns 9,594 shares of the company’s stock valued at $1,043,000 after buying an additional 980 shares during 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.