Why SharkNinja, Inc. (SN) Outpaced the Stock Market Today

The latest trading session saw SharkNinja, Inc. (SN) ending at $113.72, denoting a +1.74% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 0.53%. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.25%.Heading into today, shares of the company had gained 14.81% over the past month, outpacing the Retail-Wholesale sector's gain of 5.57% and the S&P 500's gain of 1.24% in that time.Analysts and investors alike will be keeping a close eye on the performance of SharkNinja, Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.25, reflecting a 32.98% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.61 billion, up 16.64% from the year-ago period.It is also important to note the recent changes to analyst estimates for SharkNinja, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.13% higher within the past month. Currently, SharkNinja, Inc. is carrying a Zacks Rank of #2 (Buy).Looking at valuation, SharkNinja, Inc. is presently trading at a Forward P/E ratio of 23.18. This represents a premium compared to its industry's average Forward P/E of 12.36.It is also worth noting that SN currently has a PEG ratio of 1.49. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Retail - Miscellaneous industry held an average PEG ratio of 1.4.The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 21, positioning it in the top 9% of all 250+ industries.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks