Is SharkNinja, Inc. (SN) The Top Beaten Down Large Cap Stock That Can Double According To Wall Street?

We recently published a list of Top 10 Beaten Down Large Cap Stocks That Can Double According To Wall Street. In this article, we are going to take a look at where SharkNinja, Inc. (NYSE:SN) stands against other top beaten down large cap stocks that can double according to Wall Street.

There was a point in the early days of Donald Trump’s presidency when the stock market looked set for a bull run. Bit by bit, the market digested geopolitical issues, trade wars, and recession fears. It looked like these were temporary concerns only.

We’re now less than two months into the presidential term and every consensus trade seems to be unravelling in front of our eyes. Investors are panicking and the state of the US economy looks fragile, with recession knocking on the door.

Investors operating in capital markets do not have the luxury of getting out of the market. No matter how the market behaves, they will still be here hunting for opportunities. That’s exactly what we do as well. As the market tanks, we decided to look at beaten down stocks that could comfortably outpace the market if bought after the current sell off.

To come up with our list of 10 beaten down large cap stocks that can double according to Wall Street, we considered stocks that have a market cap of at least $10 billion, have been hammered in the past week, and have a Wall Street price target that could see the stock double from current levels.

Photo by Joseph Ngabo on Unsplash

SharkNinja, Inc. (NYSE:SN)

SharkNinja, Inc. (NYSE:SN) is the seller of various household products through online and brick and mortar stores. SharkNinja, Inc. (NYSE:SN)’s stock has been sliding downwards since the earnings report last month, but there are reasons to believe things could reverse later this year.

To start with, the highest Wall Street target of $175 implies the stock could double in 2025. A 30% YoY sales growth in Q4 won’t be repeated this year, but an 11% growth is on the cards in 2025 when the company launches 25 new products during the year. Products like CryoGlow, a skin care device, and the SLUSHI frozen drink maker have helped the company expand its market and portfolio.

Increasing supply chain costs are likely to dampen the first quarter performance, which is why the stock is taking a hit since the earnings. However, margin expansion from Q2 onwards could see the company perform well through the latter half of the year.

Overall, SN ranks 5th on our list of top beaten down large cap stocks that can double according to Wall Street. While we acknowledge the potential of SN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as SN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.