10 Best New Stocks to Buy According to Billionaires

3. SharkNinja, Inc. (NYSE:SN)

Market Capitalization: $11.127 billion

Number of Hedge Fund Holders: 63

Number of Billionaires: 13

Total Value of Billionaire Holdings: $202,286,932

SharkNinja, Inc. (NYSE:SN) is an international product design and technology company that specializes in lifestyle solutions for consumers. It is known for its aggressive innovative strategy that disrupts new product categories with innovative designs. The company operates through two major brands namely, Shark and Ninja, and has more than 31 household subcategories.

On April 11, Alexander Perry from Bank of America Securities maintained a Buy rating on the stock with a price rating of $120. The analyst noted that SharkNinja, Inc.’s (NYSE:SN) point of sale data shows significant year-over-year growth, with no signs of slowing down. On top of this, the company can gain market share and has been outperforming market growth. Moreover, the company has mitigated the risks of tariffs on China and Southeast Asia by strategically shifting its production to other regions.

During the fiscal fourth quarter of 2024, SharkNinja, Inc. (NYSE:SN) increased its net sales by 29.7% to reach $1.79 billion. This was driven by growth across four main categories including Cleaning Appliances, Cooking and Beverage Appliances, Food Preparation Appliances, and Beauty and Home Environment Appliances. Notably, the gross profit of the company increased 34.8% year-over-year to reach $839.5 million. Looking ahead, management anticipates to grow its net sales by 10% to 20% year-over-year. It is one of the best new stocks to buy according to billionaires.

Munro Global Growth Small & Mid Cap Fund stated the following regarding SharkNinja, Inc. (NYSE:SN) in its Q4 2024 investor letter:

“SharkNinja, Inc. (NYSE:SN) contributed -34bps to Fund performance for the quarter. SharkNinja, based in Needham Heights, Massachusetts, is a leading designer and marketer of electrical household appliances.

Originally known for its vacuums and long infomercial advertising across late hours of the night, SharkNinja has transformed itself into a leading household appliance company, continuing to move laterally into new areas of the home. Their proposition is simple, create innovative, best-in-class products at price points that attract all consumer demographics. SharkNinja is the epitome of positive customer perception, one of the six qualitative characteristic traits in Munro’s investment process.

Roughly 12 months ago, fresh off its IPO, SharkNinja remained an undiscovered story, trading at less than 15x earnings. The company had forecasted its revenue to grow by 7-9% in 2024. Fast forward to today, the company is really catching the eye of consumers on a global scale, which has led to a big acceleration in revenue, likely, in our view, to be over 30% for 2024 when the company reports its result in mid-February.…” (Click here to read the full text)