SharkNinja, Inc. (SN): A Bull Case Theory

We came across a bullish thesis on SharkNinja, Inc. on Valueinvestorsclub.com by Soprano14. In this article, we will summarize the bull’s thesis on SN. SharkNinja, Inc.'s share was trading at $96.50 as of June 27^th. SN’s trailing and forward P/E ratios were 30.54 and 19.30, respectively, according to Yahoo Finance.

SharkNinja (SN) is positioned as a standout performer in the otherwise sluggish small-appliance industry, driven by a highly effective innovation-focused model. Through a streamlined global supply chain and heavy reinvestment in R&D and marketing, the company rapidly delivers high-quality, competitively priced products. SN has consistently outpaced the U.S. market, with North American sales growing at a 22% CAGR from 2019–2024, compared to the industry’s 4%.

This dominance stems from broad-based share gains across product categories, enabled by over 800 engineers launching 20–25 products annually and more than doubling peers in R&D intensity. SharkNinja has also created category-defining innovations like the FlexStyle hair styler, a more functional and cost-effective alternative to Dyson’s Airwrap, and the CREAMi ice cream maker, which addressed a core user pain point with a disruptive design.

Beyond product excellence, its aggressive marketing spending further accelerates adoption. Internationally, SharkNinja is in early innings but growing rapidly, with Rest-of-World (RoW) revenue surpassing 15% of sales in 2024 and rising over 100% YoY. With only ~7% market share in Europe versus ~30% in the U.S., the company is poised for 5+ years of 30%+ growth in international markets, excluding the potential from new country entries.

The market, however, remains overly focused on transient tariff headwinds, which SN has managed well, even raising guidance during tariff-related volatility. Looking forward, the company could deliver $10 in EPS by 2027, implying 70% upside on an 18x multiple. Potential index inclusion and earnings beats in 2025–2026 offer compelling catalysts, while risks like tariff policy remain manageable.

Previously, we covered a bullish thesis on SharkNinja, Inc. by LongTermValue Research in April 2025, which highlighted the company’s product innovation, strong EPS growth, and free cash flow generation. The company's stock price has appreciated by approximately 15% since our coverage. The thesis still stands as valuation remains attractive. Soprano14 shares a similar view but emphasizes international expansion and innovation.

SN isn't on our list of the 30 Most Popular Stocks Among Hedge Funds. While we acknowledge the risk and potential of SN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article was originally published at Insider Monkey.