SharkNinja SN is ramping up growth with an ambitious push across its full product lineup, leveraging innovative launches, expanded distribution, and direct-to-consumer initiatives to capture new markets and drive sales momentum into 2026.
Bank of America reiterated a Buy rating on SharkNinja with a $140 price forecast, based on 24 times its 2026 EPS estimate of $5.75.
Analyst Alexander Perry emphasized that the company aims to “win with every SKU, every week,” highlighting SharkNinja’s disruptive consumer-focused innovation and rigorous product testing.
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Their design culture includes rigorous product testing (e.g., testing in 1,000 homes) and agility across 37 product categories and geographies.
Perry expects innovation to center on outdoor appliances, led by the Ninja Fireside360 Firepit, which will debut through direct-to-consumer channels, Amazon AMZN, and Costco COST as a brick-and-mortar exclusive. SharkNinja plans to expand the Firepit to Home Depot HD and Lowe’s LOW in 2026.
Beauty is also seen as a driver of growth, with Cyroglow projected to contribute $100 million this year ahead of a skincare launch in October, alongside the scaling of Shark Glam.
Internationally, SharkNinja faced challenges in Mexico as it shifted from a distributor model to a direct-to-consumer model. Despite these challenges, SharkNinja believes it can successfully coexist with retailers by building direct relationships with the top 3-4 retailers in a region. For the broader market beyond these key retailers, SharkNinja plans to utilize distributors to handle the long tail of accounts.
Domestically, grocery stores remain the company’s most underserved channel, with early traction reported at Wegmans. A consolidated direct-to-consumer site launching October 1 will unify Ninja Kitchen, Shark Home, and Shark Beauty, with the channel expected to see outsized growth next year.
The analyst noted that SharkNinja is expanding its distribution, with grocery stores identified as its most underserved channel and early success at Wegmans. The company will also launch a consolidated direct-to-consumer site on October 1, combining Ninja Kitchen, Shark Home, and Shark Beauty, with outsized growth in the channel expected in 2026.
On tariffs, Perry said a key lesson has been SharkNinja’s ability to absorb a more significant price increase. Retailers are seeking predictability in 2026, and the company plans to initially price higher before potentially adjusting lower.
While tariffs have caused sub-optimal regional launch sequencing, the bank does not believe they will alter the holiday outlook. A potential shift of shipments from the third to the fourth quarter is possible due to tighter retailer inventory control.
The analyst’s price forecast reflects a premium to other leisure brands trading at 15X. The valuation reflects SharkNinja’s higher three-year sales CAGR, stronger EBITDA margins, and expected market share gains across both new and existing categories, while also accounting for earnings risks from recently announced reciprocal tariffs.
Downside risks include a slowing macro environment that could pressure high-ticket categories, additional tariff exposure, and heightened competition, the analyst noted.
Price Action: SN shares were trading higher by 0.12% to $109.93 at last check Tuesday.
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