UBS Group Increases Sleep Number (NASDAQ:SNBR) Price Target to $13.00

Sleep Number (NASDAQ:SNBR) had its price objective increased by UBS Group from $12.00 to $13.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages have also recently issued reports on SNBR. Wedbush reaffirmed a neutral rating and issued a $13.50 target price on shares of Sleep Number in a report on Thursday. Piper Sandler raised their price objective on shares of Sleep Number from $12.00 to $13.00 and gave the stock a neutral rating in a research note on Thursday.

Sleep Number Stock Down 0.4 %

Shares of NASDAQ:SNBR opened at $14.18 on Thursday. The company has a market cap of $316.64 million, a P/E ratio of -9.33 and a beta of 1.96. Sleep Number has a 52 week low of $9.00 and a 52 week high of $39.98. The company has a 50-day moving average price of $14.40 and a 200 day moving average price of $13.86.

Sleep Number (NASDAQ:SNBR) last issued its 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. Sleep Number had a negative net margin of 1.87% and a negative return on equity of 1.05%. The company had revenue of $470.45 million during the quarter, compared to analysts’ expectations of $475.17 million. Analysts expect that Sleep Number will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quest Partners LLC purchased a new position in shares of Sleep Number during the 4th quarter worth approximately $62,000. GAMMA Investing LLC increased its stake in shares of Sleep Number by 250.6% during the 1st quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock worth $68,000 after purchasing an additional 3,027 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Sleep Number by 27.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,224 shares of the company’s stock worth $77,000 after purchasing an additional 1,114 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Sleep Number by 345.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 7,124 shares of the company’s stock worth $175,000 after acquiring an additional 5,525 shares during the period. Finally, Invenomic Capital Management LP purchased a new stake in Sleep Number in the 4th quarter worth approximately $221,000. 85.67% of the stock is owned by hedge funds and other institutional investors.

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.