Piper Sandler Raises Sleep Number (NASDAQ:SNBR) Price Target to $80.00

Sleep Number (NASDAQ:SNBR) had its price objective raised by Piper Sandler from $70.00 to $80.00 in a research note issued to investors on Thursday, The Fly reports. They currently have an overweight rating on the stock.

SNBR has been the topic of a number of other research reports. Raymond James restated a hold rating on shares of Sleep Number in a research note on Thursday, July 16th. Wedbush restated a neutral rating on shares of Sleep Number in a research note on Monday, October 12th. TheStreet lowered Sleep Number from a b- rating to a c+ rating in a research note on Tuesday, September 8th. Zacks Investment Research lowered Sleep Number from a strong-buy rating to a sell rating in a research report on Wednesday, September 16th. Finally, BidaskClub lowered Sleep Number from a buy rating to a hold rating in a research report on Thursday, October 1st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Sleep Number has an average rating of Hold and an average target price of $49.83.

Shares of SNBR stock opened at $63.15 on Thursday. Sleep Number has a fifty-two week low of $15.27 and a fifty-two week high of $67.30. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.60 and a beta of 2.22. The stock’s 50-day simple moving average is $49.67 and its 200-day simple moving average is $40.26.

Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings results on Monday, October 19th. The company reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.73. Sleep Number had a negative return on equity of 48.94% and a net margin of 4.70%. The business had revenue of $531.16 million for the quarter, compared to analyst estimates of $515.82 million. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. As a group, equities analysts expect that Sleep Number will post 2.77 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of SNBR. Peregrine Capital Management LLC purchased a new stake in Sleep Number in the 2nd quarter worth approximately $18,491,000. Thrivent Financial for Lutherans boosted its position in Sleep Number by 1,110.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 288,475 shares of the company’s stock worth $12,013,000 after purchasing an additional 264,651 shares in the last quarter. LSV Asset Management boosted its position in Sleep Number by 11.6% in the 2nd quarter. LSV Asset Management now owns 1,292,824 shares of the company’s stock worth $53,833,000 after purchasing an additional 134,124 shares in the last quarter. Bank of Montreal Can boosted its position in Sleep Number by 190.5% in the 2nd quarter. Bank of Montreal Can now owns 188,309 shares of the company’s stock worth $8,813,000 after purchasing an additional 123,490 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its position in Sleep Number by 619.7% in the 1st quarter. Engineers Gate Manager LP now owns 126,292 shares of the company’s stock worth $2,420,000 after purchasing an additional 108,743 shares in the last quarter. Hedge funds and other institutional investors own 96.69% of the company’s stock.

Sleep Number Company Profile

Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. It designs, manufactures, markets, retails, and services beds, bases, and bedding accessories under the Sleep Number name. The company also offers adjustable bases under the FlextFit name; and pillows, temperature-balancing products, beds for kids, sheets, and other bedding products under the Sleep Number name.

See Also: Bond

The Fly

Analyst Recommendations for Sleep Number (NASDAQ:SNBR)

Receive News & Ratings for Sleep Number Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sleep Number and related companies with MarketBeat.com's FREE daily email newsletter.