10 Best Home Appliance Stocks to Invest In

4. SharkNinja, Inc. (NYSE:SN)

Number of Hedge Fund Holders: 52       

SharkNinja, Inc. (NYSE:SN) is a technology and product design firm that uses innovative products to make 5-star lifestyle solutions for customers worldwide. Cleaning, cooking, food preparation, home environment, and beauty items are some of its product categories. It offers hair dryers, fryers, pots and pans, vacuum cleaners, and more.

Three strategy pillars support the company’s success: growing its market share in current categories, entering new ones, and internationalizing its brand. For example, Shark’s foray into the high-end hair dryer industry and Ninja’s launch of the CREAMi ice cream machine have produced noteworthy outcomes, exhibiting notable increases in market share and revenue growth. Growth is further fueled by the plan to introduce two new items a year, one from each brand. Globally, the firm is expanding rapidly in Europe, where it has shown great results in France and Germany. It also expects to continue growing in the United Kingdom, Germany, and Japan. The $112 billion small appliance total addressable market (TAM), which has been expanding steadily, is seen by the company as a significant growth opportunity.

Ave Maria World Equity Fund stated the following regarding SharkNinja, Inc. (NYSE:SN) in its Q2 2024 investor letter:

“Top contributors to performance included SharkNinja, Inc. (NYSE:SN) and Taiwan Semiconductor Manufacturing Company Limited. SharkNinja, Inc. is a global product design and technology company focused on creating solutions that increase efficiency, convenience and enjoyment of consumers’ daily tasks and improve everyday lives. The company has built two billion-dollar brands, Shark and Ninja, and has a proven track record of establishing leadership positions by disrupting numerous household product categories, including cleaning, cooking, food preparation, home entertainment and beauty.”

SharkNinja, Inc. (NYSE:SN)’s sales growth, aided by innovation and expansion into new markets, is predicted to double over the medium term. Profitability is further boosted by strong margins, enhanced efficiencies, and competitive pricing.

David Zorub’s Parsifal Capital Management is among the biggest shareholders in the company, with 2,113,199 shares worth $158.80 million.