Jim Cramer’s Must-Watch List: 10 Stocks to Look After

5. Sharkninja Inc. (NYSE:SN)

Number of Hedge Fund Investors: 52

Jim Cramer shared his positive view on Sharkninja Inc. (NYSE:SN), expressing that he doesn’t believe lower interest rates are necessary for it to perform well. He reflected on how he often wonders why he didn’t buy Sharkninja Inc. (NYSE:SN) for his travel trust after meeting with the company. Cramer praised Sharkninja Inc. (NYSE:SN) as a strong investment, highlighting its unique and innovative products, such as an exclusive ice cream maker that stands out in the market. He emphasized that his focus is more on Sharkninja Inc. (NYSE:SN)’s creativity and innovation rather than interest rates, noting that the company excels in these areas.

“I’ve got to tell you, I don’t think you need to have lower rates for this thing. The more I look at the stock every day, I ask, “Why didn’t we just buy the stock for the travel trust after meeting them?” It has been such a good investment. By the way, it has a lot of really interesting products, like the ice cream maker—things that nobody else has. So the answer is, I don’t care so much about rates; I care about ingenuity, and they have it in spades.”

Sharkninja Inc. (NYSE:SN) is an attractive investment due to its strong financial performance and significant growth potential. In Q2 2024, Sharkninja Inc. (NYSE:SN) saw a 31% increase in sales and a 34% rise in earnings per share, driven by impressive gains across its product lines. Sales in food preparation appliances grew nearly 80%, while cooking and beverage appliances rose by 18.2%, supported by its expansion into Europe.

Sharkninja Inc. (NYSE:SN) also experienced triple-digit growth in haircare, fans, and air purifiers, leading to a 41.4% increase in gross profit. Sharkninja Inc. (NYSE:SN) has raised its full-year guidance, expecting 31% EPS growth and a 21% increase in sales for FY24, with analysts forecasting an additional 14% EPS growth for FY25. Sharkninja Inc. (NYSE:SN) has nearly doubled in 2024 and is near its 52-week high, outperforming the S&P 500.