Piper Sandler Increases Sleep Number (NASDAQ:SNBR) Price Target to $13.00

Sleep Number (NASDAQ:SNBR) had its price target lifted by investment analysts at Piper Sandler from $12.00 to $13.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential downside of 8.32% from the company’s current price.

Separately, Wedbush restated a “neutral” rating and set a $13.50 target price on shares of Sleep Number in a research report on Wednesday, April 17th.

Sleep Number Stock Down 0.4 %

Shares of NASDAQ SNBR opened at $14.18 on Thursday. Sleep Number has a 52 week low of $9.00 and a 52 week high of $39.98. The firm has a 50-day moving average price of $14.40 and a 200 day moving average price of $13.89. The stock has a market capitalization of $316.64 million, a price-to-earnings ratio of -9.33 and a beta of 1.96.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.41) by $0.44. The firm had revenue of $470.45 million during the quarter, compared to analysts’ expectations of $475.17 million. Sleep Number had a negative net margin of 1.87% and a negative return on equity of 1.05%. Equities research analysts expect that Sleep Number will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Sleep Number

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. grew its holdings in shares of Sleep Number by 588.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 239,838 shares of the company’s stock worth $5,898,000 after buying an additional 205,015 shares in the last quarter. Stadium Capital Management LLC grew its holdings in shares of Sleep Number by 51.2% during the third quarter. Stadium Capital Management LLC now owns 2,002,227 shares of the company’s stock worth $49,235,000 after buying an additional 678,001 shares in the last quarter. Swiss National Bank grew its holdings in shares of Sleep Number by 2.7% during the third quarter. Swiss National Bank now owns 48,800 shares of the company’s stock worth $1,200,000 after buying an additional 1,300 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Sleep Number by 15.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 618,152 shares of the company’s stock worth $15,200,000 after buying an additional 84,449 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Sleep Number by 345.5% during the third quarter. Public Employees Retirement System of Ohio now owns 7,124 shares of the company’s stock worth $175,000 after buying an additional 5,525 shares in the last quarter. Institutional investors and hedge funds own 85.67% of the company’s stock.

About Sleep Number

Sleep Number Corporation, together with its subsidiaries, offers sleep solutions and services in the United States. The company designs, manufactures, markets, retails, and services beds, pillows, sheets, and other bedding products under the Sleep Number name. It also provides smart adjustable bases under the FlextFit brand, and smart beds under the Climate 360 name.