SharkNinja (SN) Kills It
When it comes to small appliances, SharkNinja (SN) is one of the more innovative players out there, and the company’s mass-market appeal and expansion into new categories continue to deliver impressive results. In Q1 (reported after the close yesterday) SharkNinja delivered a nice beat with revenue of $1.07 billion (vs. $950 million consensus) and EPS of $1.06 (vs. $0.97 consensus). Management raised full-year revenue growth guidance (from +7-9%) to +12-14% and EPS growth guidance to +14-19% (from +7-12%). It sounds like things are going well across the board, as well as internationally, and cleaning appliances (biggest category) saw an uptick in the quarter and outperformed management expectations. Despite SN’s impressive performance lately, analysts are raising price targets. We’re sticking with a buy rating as this good story gets even better. BUY
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