10 Best Home Appliance Stocks to Buy According to Analysts

7. SharkNinja, Inc. (NYSE:SN)

Analyst Upside: 23.25%

SharkNinja, Inc. (NYSE:SN) is a global technology and product design company with a portfolio spanning 31 household subcategories. It offers products across cleaning, food separation, cooking, home environment, and various other categories. The company operates through the Shark and Ninja brand assortments. The Shark brand offers a diverse assortment of categories, including robotic and handheld vacuums, steam mops, and dry/wet cleaning floor products. SharkNinja, Inc. (NYSE:SN) also offers beverage and cooking appliances such as coffee systems, air fryers, cookware, ovens, and much more.

The company is running on a strong model of profitability. It drove an adjusted net sales growth of 35% in fiscal Q3 2024. This growth was attributed to the company’s continual reinvestments in its growth initiative including competitive bidding, supplier diversification, and value engineering. Its strategic reinvestments are thus strengthening its moat and accelerating its pursuit of a growing addressable market.

SharkNinja, Inc. (NYSE:SN) also has a three-pillar growth strategy. This includes increasing its share in existing categories, entering new and adjacent categories, and international expansion. Entering new categories remains a key growth driver for the company, as it is committed to entering at least two new subcategories every year. It exceeded that goal in 2024 by entering four new subcategories, including frozen drink makers, fans, coolers, and skin care. The company ranks 7th on our list of the 10 best home appliance stocks to buy according to analysts.

Artisan Small Cap Fund stated the following regarding SharkNinja, Inc. (NYSE:SN) in its Q3 2024 investor letter:

“Among our top Q3 contributors were Guidewire, Veracyte and SharkNinja, Inc. (NYSE:SN). SharkNinja is a leading household consumer products company. Its Shark brand focuses on the cleaning category (vacuums, mops, carpet cleaners, etc.) and, more recently, beauty (hair dryers, hair stylers, etc.). Its Ninja brand focuses on food preparation (blenders, food processors, ice cream makers, juicers, etc.) and cooking (indoor grills, ovens, toasters, cookers, air fryers, etc.). We believe a healthy combination of market share gains within existing categories, new category entries, and international expansion will drive growth. Shares rallied after reporting strong earnings results, including 31% revenue growth and 600bps of gross margin expansion.”