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Early Opportunities
Get in Before the Crowd

May 9, 2024

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.

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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Tyler Laundon is chief analyst of the limited-subscription advisory, Cabot Small-Cap Confidential and grand slam advisory Cabot Early Opportunities. He has spent his entire career managing, consulting and analyzing start-up and small-cap companies. His hands-on experience has taught Tyler that the development of a superior business model is the biggest factor in determining a company’s long-term success. Accordingly, his research focuses on assessing the viability of management’s growth strategies, trends in addressable markets and achievement of major developmental milestones.