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

Sleep Number (NASDAQ:SNBR) had its price objective upped by equities research analysts at Piper Sandler from $12.00 to $13.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential downside of 4.20% from the company’s previous close.

Separately, Wedbush reiterated a “neutral” rating and issued a $13.50 price target on shares of Sleep Number in a research note on Wednesday, April 17th.

Sleep Number Stock Down 7.1 %

NASDAQ SNBR opened at $13.57 on Thursday. Sleep Number has a 52 week low of $9.00 and a 52 week high of $39.98. The company has a market capitalization of $303.02 million, a P/E ratio of -19.96 and a beta of 1.96. The stock’s 50-day moving average price is $14.28 and its 200-day moving average price is $13.91.

Sleep Number (NASDAQ:SNBR) last released its earnings results on Wednesday, April 24th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.44. The company had revenue of $470.45 million for the quarter, compared to analysts’ expectations of $475.17 million. Sleep Number had a negative net margin of 0.81% and a negative return on equity of 1.05%. Research analysts anticipate that Sleep Number will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Sleep Number

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stadium Capital Management LLC lifted 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. Charles Schwab Investment Management Inc. boosted its stake in Sleep Number by 29.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 802,190 shares of the company’s stock valued at $11,896,000 after buying an additional 184,038 shares during the last quarter. SW Investment Management LLC grew its holdings in Sleep Number by 6.3% during the 3rd quarter. SW Investment Management LLC now owns 584,672 shares of the company’s stock valued at $14,377,000 after buying an additional 34,672 shares in the last quarter. Partnership Wealth Management LLC bought a new stake in Sleep Number in the 4th quarter worth approximately $3,836,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Sleep Number by 588.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 239,838 shares of the company’s stock worth $5,898,000 after acquiring an additional 205,015 shares in the last quarter. Institutional investors own 85.67% of the company’s stock.

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.