Why SharkNinja, Inc. (SN) Dipped More Than Broader Market Today

SharkNinja, Inc. (SN) closed the most recent trading day at $89.77, moving -1.98% from the previous trading session. This change lagged the S&P 500's daily loss of 1.12%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq depreciated by 2.04%.Shares of the company witnessed a loss of 12.51% over the previous month, trailing the performance of the Retail-Wholesale sector with its loss of 5.39% and the S&P 500's loss of 2.91%.The investment community will be paying close attention to the earnings performance of SharkNinja, Inc. in its upcoming release. The company's upcoming EPS is projected at $0.76, signifying a 28.3% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.17 billion, indicating a 9.81% growth compared to the corresponding quarter of the prior year.Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.91 per share and revenue of $6.23 billion. These totals would mark changes of +12.36% and +12.68%, respectively, from last year.Any recent changes to analyst estimates for SharkNinja, Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SharkNinja, Inc. is holding a Zacks Rank of #3 (Hold) right now.With respect to valuation, SharkNinja, Inc. is currently being traded at a Forward P/E ratio of 18.66. This signifies a premium in comparison to the average Forward P/E of 13.91 for its industry.It is also worth noting that SN currently has a PEG ratio of 1.79. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Retail - Miscellaneous industry stood at 1.79 at the close of the market yesterday.The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 136, putting it in the bottom 46% of all 250+ industries.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow SN in the coming trading sessions, be sure to utilize Zacks.com.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SharkNinja, Inc. (SN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks