S&P 500 may face selling pressure as systematic funds reach full exposure
On Tuesday, Jefferies, a global investment banking firm, maintained its Buy rating on SharkNinja (NYSE:SN) shares with a steady price target of $175.00, representing a potential 81% upside from the current price of $96.63. The firm’s analysts highlighted the strength of SharkNinja’s two main brands, Shark and Ninja, which have established credibility across multiple product categories. According to InvestingPro data, the company has delivered an impressive 76% return over the last year, demonstrating strong market performance.
The analysts at Jefferies expressed confidence in SharkNinja’s ability to expand its product range and increase its market share and presence on the shelves of existing retailers. They also noted the company’s potential for growth with new retailers and in new geographic markets. This optimism is supported by InvestingPro data showing robust revenue growth of 30% and a healthy gross profit margin of 48%. The company’s strong financial position is reflected in its GOOD overall health score, with 10+ additional insights available to InvestingPro subscribers.
In their commentary, the analysts stated, "The SN story is simple and compelling. Two strong brands (Shark & Ninja) with credibility in multiple product categories enable SN to make more products in more categories, gain share & shelf space w/ existing retailers, and grow w/ new retailers and new geographies." They emphasized the company’s ability to generate compelling long-term stock price appreciation.
Jefferies’ analysts concluded their remarks by encouraging investors to continue purchasing SharkNinja shares aggressively, underscoring their positive outlook on the company’s stock performance. This endorsement reflects Jefferies’ belief in the company’s strategic positioning and its capacity to sustain growth and profitability in the future.
In other recent news, SharkNinja has reported strong financial results for the fourth quarter of 2024, significantly exceeding earnings and revenue forecasts. The company posted an earnings per share (EPS) of $1.40, surpassing the expected $0.97, and achieved revenue of $1.79 billion, which was well above the anticipated $1.39 billion. This marks SharkNinja’s fourth consecutive quarter of exceeding market expectations for both revenue and earnings. Following these impressive results, Jefferies analyst Randal Konik raised the company’s stock price target from $150 to $175 and reaffirmed a Buy rating, citing the company’s robust product innovation pipeline and international expansion efforts.
SharkNinja’s international sales grew by 49%, with notable performance in Europe and Latin America, contributing to a 30% year-over-year increase in net sales for the quarter. The company’s strategic focus on product innovation and market expansion has been highlighted as a key driver of its success, with over 25 new products planned for release in fiscal year 2025 and beyond. Looking ahead, SharkNinja projects net sales growth of 10-12% for 2025, with adjusted net income per share expected to range between $4.8 and $4.9.
CEO Mark Perokos emphasized the company’s commitment to innovation and strategic investments, positioning SharkNinja for long-term sustainable growth. The company’s management has provided guidance for a low double-digit percentage increase in top-line revenue, which analysts have praised as prudent and achievable. These recent developments reflect continued investor confidence in SharkNinja’s growth prospects and strategic direction.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.