2025-06-16-Jefferies-SharkNinja（SN）_SN商标排名_Cyclone和Steam_Pickup在5月实现了大幅增长_11页_598kb

This equity research report on SharkNinja (SN) evaluates its growth, intellectual property, financial performance, and investment prospects as of June 2025. SharkNinja is a global product design and technology company specializing in household appliances, with established brands Shark and Ninja.

In May, Pick Up demonstrated significant growth, while trademark searches for Shark and Ninja brands peaked. Key trademarks for Shark, such as Cyclone and Steam Pickup, recorded substantial month-over-month search growth. Ninja’s NeverStick led demand in its category, with FrostVault and FlexFlame also posting strong gains.

Financially, the stock trades at approximately $87.93 with a buy recommendation and a 12-month price target of $175, implying a ~99% upside. The equity research anticipates revenue and EBITDA expansion, with EBITDA projected to $1.31 billion for Fiscal Year 2026, yielding an EV/EBITDA multiple of 19x. Growth drivers include existing category expansion, adjacent product entries, and international sales, though risks such as supply chain issues, economic weakness, and heightened competition are noted.

SharkNinja emphasizes sustainability through ethical sourcing and design, supported by DEI initiatives, and faces scrutiny on ESG goals including reduced emissions and material impacts. Analysts noted positive trends in product innovation and operational leverage, with scenarios for upside and downside reflecting varying growth and margin pressures.

Historical price targets reflect confidence in the company, and diversification in financial projections underscores moderate margin expansion and top-line gains over future periods.