Sleep Number (NASDAQ:SNBR) Stock Rating Reaffirmed by Wedbush

Wedbush reissued their neutral rating on shares of Sleep Number (NASDAQ:SNBR) in a research report sent to investors on Thursday morning, Benzinga reports. Wedbush currently has a $13.50 price target on the stock.

Separately, Piper Sandler raised their price target on Sleep Number from $12.00 to $13.00 and gave the stock a neutral rating in a report on Thursday.

Sleep Number Stock Performance

NASDAQ:SNBR traded up $0.38 during trading hours on Thursday, hitting $14.61. The stock had a trading volume of 257,539 shares, compared to its average volume of 586,821. The business’s 50 day moving average is $14.34 and its 200-day moving average is $13.91. The company has a market cap of $326.24 million, a price-to-earnings ratio of -9.36 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 posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.44. The company had revenue of $470.45 million during the quarter, compared to analyst estimates of $475.17 million. Sleep Number had a negative net margin of 1.87% and a negative return on equity of 1.05%. On average, sell-side analysts anticipate that Sleep Number will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Sleep Number

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tectonic Advisors LLC increased its stake in 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 purchasing an additional 1,006 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC lifted its position in shares of Sleep Number by 3.6% in the 3rd quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 57,117 shares of the company’s stock worth $1,405,000 after purchasing an additional 1,975 shares during the period. Swiss National Bank increased its stake in Sleep Number by 2.7% during the 3rd quarter. Swiss National Bank now owns 48,800 shares of the company’s stock valued at $1,200,000 after purchasing an additional 1,300 shares in the last quarter. 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 worth $15,200,000 after buying an additional 84,449 shares during the last quarter. Finally, Stadium Capital Management LLC raised its position in shares of Sleep Number by 20.9% during the third quarter. Stadium Capital Management LLC now owns 1,600,768 shares of the company’s stock valued at $39,363,000 after buying an additional 276,542 shares during the last quarter. 85.67% of the stock is owned by 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.