Sleep Number (NASDAQ:SNBR) PT Raised to $80.00

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

A number of other research analysts have also recently commented on the company. Wedbush reissued a neutral rating on shares of Sleep Number in a research note on Monday, October 12th. BidaskClub cut Sleep Number from a buy rating to a hold rating in a research note on Thursday, October 1st. Zacks Investment Research cut Sleep Number from a strong-buy rating to a sell rating in a research note on Wednesday, September 16th. Raymond James reissued a hold rating on shares of Sleep Number in a research note on Thursday, July 16th. Finally, ValuEngine upgraded shares of Sleep Number from a sell rating to a hold rating in a research report on Friday, October 2nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Sleep Number currently has an average rating of Hold and an average price target of $49.83.

Sleep Number stock opened at $63.15 on Thursday. Sleep Number has a 12 month low of $15.27 and a 12 month high of $67.30. The business’s 50 day simple moving average is $49.67 and its 200 day simple moving average is $40.26. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.60 and a beta of 2.22.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings data on Monday, October 19th. The company reported $1.79 EPS for the quarter, beating the 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 the consensus estimate of $515.82 million. During the same quarter in the prior year, the business earned $0.94 earnings per share. Sleep Number’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts anticipate 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 bought and sold shares of the business. LSV Asset Management boosted its position in Sleep Number by 11.6% during the second quarter. LSV Asset Management now owns 1,292,824 shares of the company’s stock valued at $53,833,000 after buying an additional 134,124 shares during the period. State Street Corp boosted its position in Sleep Number by 3.1% during the first quarter. State Street Corp now owns 858,176 shares of the company’s stock valued at $16,443,000 after buying an additional 26,149 shares during the period. Nuveen Asset Management LLC boosted its position in Sleep Number by 1.1% during the first quarter. Nuveen Asset Management LLC now owns 485,956 shares of the company’s stock valued at $9,311,000 after buying an additional 5,119 shares during the period. Morgan Stanley boosted its holdings in shares of Sleep Number by 3.7% during the first quarter. Morgan Stanley now owns 460,999 shares of the company’s stock worth $8,832,000 after purchasing an additional 16,301 shares during the period. Finally, Peregrine Capital Management LLC purchased a new stake in shares of Sleep Number during the second quarter worth about $18,491,000. Institutional investors and hedge funds own 96.69% of the company’s stock.

About Sleep Number

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.

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