Sleep Number (NASDAQ:SNBR) Stock Rating Reaffirmed by Wedbush

Sleep Number (NASDAQ:SNBR)‘s stock had its “neutral” rating reaffirmed by investment analysts at Wedbush in a report issued on Thursday, Benzinga reports. They presently have a $13.50 target price on the stock. Wedbush’s price objective indicates a potential downside of 4.80% from the stock’s current price.

Separately, Piper Sandler lifted their price objective on shares of Sleep Number from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday.

Sleep Number Stock Performance

Shares of SNBR opened at $14.18 on Thursday. Sleep Number has a 1 year low of $9.00 and a 1 year high of $39.98. The firm has a fifty day moving average of $14.40 and a 200-day moving average of $13.89. The company has a market cap of $316.64 million, a price-to-earnings ratio of -9.33 and a beta of 1.96.

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

Institutional Investors Weigh In On Sleep Number

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Stadium Capital Management LLC increased its stake in Sleep Number by 51.2% in the 3rd quarter. Stadium Capital Management LLC now owns 2,002,227 shares of the company’s stock worth $49,235,000 after purchasing an additional 678,001 shares in the last quarter. Partnership Wealth Management LLC purchased a new position in Sleep Number in the 4th quarter worth about $3,836,000. Jacobs Levy Equity Management Inc. increased its stake in Sleep Number by 588.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 239,838 shares of the company’s stock worth $5,898,000 after purchasing an additional 205,015 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Sleep Number by 29.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 802,190 shares of the company’s stock worth $11,896,000 after purchasing an additional 184,038 shares in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC increased its stake in Sleep Number by 105.5% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 117,397 shares of the company’s stock worth $1,741,000 after purchasing an additional 60,280 shares in the last quarter. 85.67% of the stock is currently owned by institutional investors.

Sleep Number Company Profile

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.