Context of Gem
SharkNinja sells vacuums, hair dryers, and other products under the Shark brand, and kitchen appliances under the Ninja label. Sales are close to evenly divided between the two. Vacuums are its largest category.
“It’s a gem that’s about to be discovered,” says Eli Samaha, a portfolio manager at Madison Avenue Partners, which holds the stock. He says the stock remains inexpensive because of the way it went public and the lack of analyst coverage. He thinks shares could hit 50 dollars, or about 16 times his 3.20 dollars a share projection for 2024 earnings. “SharkNinja has been able to produce new products in categories that haven’t seen much innovation at attractive prices that delight consumers,” he says.
–Barron’s
Related Topic
–SharkNinja creates innovative, technology-driven solutions across many household product categories | Video by New York Stock Exchange