SharkNinja enters earnings with a beatable bar, Jefferies says

SharkNinja heads into Wednesday's earnings with shares up about 75% since January and expectations elevated after seven straight bottom-line beats. Jefferies analyst Randal Konik calls the setup a "very beatable bar" and sees as much as 30% upside, even though his sales estimates are above consensus. He points to the company's lead in small appliances across more than 40 categories, EBITDA margins near 20%, U.S. double-digit growth, search traffic up more than 40% year over year, and share gains in espresso, where Ninja Luxe Cafe became the top-selling U.S. espresso SKU in under a year. Konik also cites shelf-space wins at Walmart, Costco, Sam's and Ulta, the Crispi Microwave's more than $3 billion subcategory, and a strategy of annual category entry to support 15% to 20% growth. Fifteen of 16 FactSet-tracked analysts are bullish; consensus sees EPS up more than 24% this year and 16% in