Sleep Number Co. (NASDAQ:SNBR) - Equities researchers at Piper Sandler boosted their Q2 2021 earnings estimates for shares of Sleep Number in a report issued on Tuesday, June 8th. Piper Sandler analyst P. Keith now forecasts that the company will earn $1.04 per share for the quarter, up from their prior forecast of $0.82. Piper Sandler also issued estimates for Sleep Number's Q2 2022 earnings at $1.30 EPS. Sleep Number (NASDAQ:SNBR) last announced its earnings results on Tuesday, April 20th. The company reported $2.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $1.83 by $0.68. The company had revenue of $568.26 million for the quarter, compared to analysts' expectations of $582.34 million. Sleep Number had a negative return on equity of 81.06% and a net margin of 8.54%. Sleep Number's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.36 earnings per share.
Several other research analysts have also recently issued reports on SNBR. UBS Group raised Sleep Number from a "sell" rating to a "neutral" rating and lifted their target price for the company from $65.00 to $135.00 in a research report on Thursday, February 18th. Wedbush boosted their price objective on Sleep Number from $120.00 to $130.00 and gave the stock a "neutral" rating in a research report on Thursday, February 18th. Finally, TheStreet cut Sleep Number from a "b" rating to a "c+" rating in a research report on Friday, April 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. Sleep Number has an average rating of "Hold" and a consensus target price of $112.20.
Shares of NASDAQ:SNBR opened at $120.40 on Thursday. The stock has a market capitalization of $2.95 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 1.15 and a beta of 1.96. Sleep Number has a 12-month low of $36.04 and a 12-month high of $151.44. The firm's 50 day moving average is $115.63.
In other Sleep Number news, Director Daniel Alegre sold 12,852 shares of the company's stock in a transaction dated Tuesday, May 25th. The stock was sold at an average price of $107.55, for a total value of $1,382,232.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Melissa Barra sold 1,274 shares of the company's stock in a transaction dated Thursday, March 25th. The stock was sold at an average price of $127.42, for a total value of $162,333.08. Following the completion of the transaction, the executive vice president now owns 41,272 shares in the company, valued at $5,258,878.24. The disclosure for this sale can be found here. Insiders sold a total of 42,056 shares of company stock worth $5,411,183 over the last 90 days. Corporate insiders own 5.70% of the company's stock.
Several institutional investors and hedge funds have recently bought and sold shares of SNBR. Inspire Advisors LLC purchased a new position in shares of Sleep Number in the 4th quarter worth about $31,000. Optimum Investment Advisors purchased a new position in shares of Sleep Number in the 1st quarter worth about $43,000. Strs Ohio purchased a new position in shares of Sleep Number in the 4th quarter worth about $81,000. Point72 Hong Kong Ltd purchased a new position in shares of Sleep Number in the 1st quarter worth about $81,000. Finally, Veriti Management LLC purchased a new position in shares of Sleep Number in the 4th quarter worth about $88,000. Hedge funds and other institutional investors own 92.67% of the company's stock.
About Sleep Number
Sleep Number Corporation, together with its subsidiaries, provides 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 offers adjustable bases under the FlextFit name; temperature-balancing products, including DualTemp layer; SleepIQ Kids k2 beds for kids; and smart beds under the Sleep Number 360 and 360 names.
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