Sleep Number (NASDAQ:SNBR) Price Target Raised to $13.00

Sleep Number (NASDAQ:SNBR) had its price objective lifted by Piper Sandler from $12.00 to $13.00 in a research report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Wedbush reaffirmed a neutral rating and issued a $13.50 price target on shares of Sleep Number in a report on Wednesday, April 17th.

Sleep Number Stock Performance

Shares of Sleep Number stock opened at $14.18 on Thursday. The business has a 50-day simple moving average of $14.40 and a 200-day simple moving average of $13.86. The company has a market cap of $316.64 million, a PE ratio of -9.33 and a beta of 1.96. Sleep Number has a one year low of $9.00 and a one year high of $39.98.

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

Institutional Investors Weigh In On Sleep Number

Several large investors have recently modified their holdings of SNBR. Tectonic Advisors LLC boosted its holdings in shares of Sleep Number by 5.7% in the third quarter. Tectonic Advisors LLC now owns 18,597 shares of the company’s stock valued at $457,000 after acquiring an additional 1,006 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC boosted its holdings in shares of Sleep Number by 3.6% in the third quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 57,117 shares of the company’s stock valued at $1,405,000 after acquiring an additional 1,975 shares during the period. Swiss National Bank boosted its holdings in shares of Sleep Number by 2.7% in the third quarter. Swiss National Bank now owns 48,800 shares of the company’s stock valued at $1,200,000 after acquiring an additional 1,300 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sleep Number by 15.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 618,152 shares of the company’s stock valued at $15,200,000 after acquiring an additional 84,449 shares during the period. Finally, Stadium Capital Management LLC boosted its holdings in shares of Sleep Number by 20.9% in the third quarter. Stadium Capital Management LLC now owns 1,600,768 shares of the company’s stock valued at $39,363,000 after acquiring an additional 276,542 shares during the period. 85.67% of the stock is owned by institutional investors and hedge funds.

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.