Company Overview - SharkNinja is a North American small appliance giant with a market cap of approximately $14 billion, owning the Shark and Ninja brands, which produce products like vacuum cleaners, robotic vacuum cleaners, electric mops, and various kitchen appliances [2] - The Shark brand entered the Chinese market in 2018, with its steam mop becoming the top-selling product on Tmall in 2019-2020 [4] - SharkNinja was founded in 1997 in Canada and entered the US market in 1998 [10] - The company was acquired by JS Global Lifestyle, the parent company of Joyoung, in 2017 and was later spun off and listed on the NYSE in July 2023 [13][14] Ownership and Control - SharkNinja and Joyoung share the same ultimate controller, Wang Xuning [6] - Post-spinoff, Wang Xuning retained control over both SharkNinja and JS Global Lifestyle, holding 57% of SharkNinja and 43% of JS Global Lifestyle [16][17][18] - The company's core assets, including production facilities, are primarily located in China, with 56% of its $170 million property, plant, and equipment located there as of the end of 2023 [21] - SharkNinja does not appear to have control over its core assets in China, as the legal entity for its Shark brand online stores in China is Shangkeninja (China) Technology Co Ltd, a wholly-owned subsidiary of Joyoung [23][24][26] Financial and Operational Concerns - SharkNinja's total debt increased from $500 million at the end of 2021 to $800 million at the end of 2023, while shareholder equity decreased from $1.8 billion to $1.5 billion, leading to a debt-to-equity ratio increase from 28% to 54% [35] - The company raised debt not for business operations but for pre-IPO special dividends, paying over $600 million to JS Global Lifestyle from 2021 to 2023, with Wang Xuning personally receiving $340 million [36] - Post-IPO, Wang Xuning sold 3.2 million shares in early 2024, cashing out $150 million, followed by another 4.69 million shares in March 2024, cashing out $260 million, and 1.7 million shares in September 2024, cashing out $160 million, totaling nearly $600 million in stock sales within a year [37][39][41] - Including the special dividends, Wang Xuning has cashed out over $900 million before and after the IPO [42] Corporate Structure and Governance - SharkNinja's Chinese operations are managed by Shangkeninja (China) Technology Co Ltd, which was previously a joint venture with Joyoung but became wholly owned by Joyoung in June 2022 after SharkNinja transferred its 49% stake at a nominal price [26][28] - The company's subsidiaries in China, such as Shenzhen Shangkeninja Technology Co Ltd, share the same registered address as Shenzhen Jiushang Small Appliances Co Ltd, both linked to Joyoung's vice chairman and JS Global Lifestyle's CFO, Han Run [31][32] - The short seller alleges that SharkNinja's US-listed entity is a "shell" as its core assets' control was transferred before the IPO [34]

Investment Rating - Buy rating maintained with a target price of $122.25, representing an 18% increase from the previous target price [1][4] - The target price implies a 25x 2025 P/E and a 17% upside from the current price [4][6] Core Views - Expansion logic remains sound with strong fundamentals, driven by successful entry into new product categories such as outdoor fans, portable coolers, and cold beverage machines [2] - Short-term catalysts are lacking, and the stock may continue to fluctuate within the $90-$110 range over the next 2-3 months [3] - Revenue and adjusted net profit for 2024 are expected to grow by 27.5% and 35.2% YoY, respectively [2][4] Financial Performance and Forecasts - 2024E revenue is projected at $5.423 billion, up 27.5% YoY, with adjusted net profit of $607 million, up 35.2% YoY [4][5] - 2025E revenue is forecasted at $6.100 billion, a 12.5% YoY increase, with adjusted net profit of $686 million, up 12.9% YoY [4][5] - 2026E revenue is expected to reach $6.830 billion, growing 12.0% YoY, with adjusted net profit of $783 million, up 14.2% YoY [4][5] Product and Market Expansion - Successful product launches, including the CREAMi ice cream maker, which now contributes high single-digit revenue share after initial slow growth [2] - Plans to expand SKUs for outdoor fans and portable coolers, with further growth expected in Europe [2] - New product categories such as semi-automatic coffee machines and multi-functional beauty devices are expected to drive future growth [2] Valuation and Peer Comparison - Current 2025E P/E of 21.3x, compared to the peer average of 13.8x [8] - SharkNinja's valuation is higher than peers like Whirlpool (9.8x 2025E P/E) and Reynolds Consumer (15.7x 2025E P/E) [8] Financial Ratios and Metrics - 2024E gross margin is expected to improve to 48.2%, up from 44.9% in 2023A [9] - 2024E adjusted net margin is forecasted at 11.2%, with ROE of 22.7% [9] - Free cash flow is projected to grow from $868 million in 2024E to $1.149 billion in 2026E [9]

Core Viewpoint - SharkNinja, Inc. (SN) is experiencing significant selling pressure, with a 15.8% decline in stock price over the past four weeks, but is now positioned for a potential trend reversal due to being in oversold territory and positive earnings expectations from Wall Street analysts [1]. Group 1: Stock Performance and Indicators - The stock has an RSI reading of 28.25, indicating it is in oversold territory, which suggests a potential for a trend reversal as selling pressure may be exhausting [3]. - A strong consensus among sell-side analysts has led to a 0.4% increase in the consensus EPS estimate for SN over the last 30 days, indicating positive sentiment regarding future earnings [3]. Group 2: Analyst Ratings and Market Position - SN holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, which supports the likelihood of a near-term turnaround [3].

Core Viewpoint - SharkNinja, Inc. (SN) is experiencing significant selling pressure, with a 15.4% decline over the past four weeks, but is now positioned for a potential trend reversal as it enters oversold territory, supported by analyst expectations of better-than-previously predicted earnings [1]. Group 1: Stock Performance and Indicators - The stock's Relative Strength Index (RSI) is currently at 26.18, indicating it is oversold and suggesting a potential reversal in trend [3]. - A stock is generally considered oversold when its RSI falls below 30, which can signal entry opportunities for investors looking for rebounds [2]. Group 2: Earnings Estimates and Analyst Consensus - Over the last 30 days, the consensus earnings per share (EPS) estimate for SN has increased by 0.4%, indicating a positive trend in earnings revisions [3]. - There is strong agreement among sell-side analysts in raising earnings estimates for SN, which typically correlates with price appreciation in the near term [3]. - SN holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting its potential for a turnaround [3].

SharkNinja, Inc. (SN) reported $1.43 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 33.3%. EPS of $1.21 for the same period compares to $0.95 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.32 billion, representing a surprise of +8.04%. The company delivered an EPS surprise of +6.14%, with the consensus EPS estimate being $1.14.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...

Earnings Performance - SharkNinja, Inc reported quarterly earnings of $1 21 per share, beating the Zacks Consensus Estimate of $1 14 per share, representing a 6 14% earnings surprise [1] - Compared to the year-ago quarter, earnings increased from $0 95 per share to $1 21 per share [1] - The company has surpassed consensus EPS estimates in each of the last four quarters [2] Revenue Growth - SharkNinja, Inc posted revenues of $1 43 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 8 04% [2] - Year-over-year revenue growth was significant, increasing from $1 07 billion to $1 43 billion [2] - The company has topped consensus revenue estimates in each of the last four quarters [2] Stock Performance - SharkNinja, Inc shares have gained 116 8% since the beginning of the year, significantly outperforming the S&P 500's gain of 21 9% [3] - The stock's immediate price movement will depend on management's commentary during the earnings call [3] Future Outlook - The current consensus EPS estimate for the coming quarter is $1 34 on $1 58 billion in revenues [7] - For the current fiscal year, the consensus EPS estimate is $4 24 on $5 22 billion in revenues [7] - The Zacks Rank for SharkNinja, Inc is currently 2 (Buy), indicating expected market outperformance in the near future [6] Industry Context - SharkNinja, Inc belongs to the Zacks Furniture industry, which is currently in the bottom 25% of Zacks industries [8] - The top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8] Peer Comparison - Snail, Inc, another company in the Zacks Consumer Discretionary sector, is expected to report quarterly earnings of $0 07 per share, representing a year-over-year change of +158 3% [9] - Snail, Inc's revenues are expected to be $25 million, up 178 4% from the year-ago quarter [9]

Exhibit 99.1 SHARKNINJA, INC. INDEX TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | | Page | | --- | --- | | Condensed Consolidated Balance Sheets (Unaudited) | 2 | | Condensed Consolidated Statements of Income (Unaudited) | 3 | | Condensed Consolidated Statements of Comprehensive Income (Unaudited) | 4 | | Condensed Consolidated Statements of Shareholders' Equity (Unaudited) | 5 | | Condensed Consolidated Statements of Cash Flows (Unaudited) | 7 | | Notes to Condensed Consolidated Financial Statements (Un ...

Core Viewpoint - SharkNinja, Inc. has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is expected to drive buying pressure and increase its stock price [1][2]. Earnings Estimate Revisions - For the fiscal year ending December 2024, SharkNinja, Inc. is projected to earn $4.22 per share, reflecting a 31.1% increase from the previous year's reported figure [5]. - Over the past three months, the Zacks Consensus Estimate for SharkNinja, Inc. has risen by 11.4%, indicating a trend of increasing earnings estimates [5]. Impact of Institutional Investors - Changes in earnings estimates are strongly correlated with stock price movements, primarily due to institutional investors who adjust their valuations based on these estimates [3]. - Rising earnings estimates and the subsequent rating upgrade suggest an improvement in SharkNinja's underlying business, which is likely to attract investor interest and push the stock price higher [3]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [4]. - SharkNinja's upgrade to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [6].

The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. SharkNinja, Inc. (SN) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Consumer Discretionary peers, we might be able to answer that question. SharkNinja, Inc. is a member of our Consumer Discret ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider SharkNinja, Inc. (SN) . This company, which is in the Zacks Furniture industry, shows potential for another earnings beat. This company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 15.96%. For th ...