Q2 2024 EPS Estimates for Sleep Number Co. (NASDAQ:SNBR) Decreased by Analyst

Sleep Number Co. (NASDAQ:SNBR - Free Report) - Investment analysts at Wedbush reduced their Q2 2024 earnings estimates for Sleep Number in a note issued to investors on Thursday, April 25th. Wedbush analyst S. Basham now forecasts that the company will post earnings of ($0.19) per share for the quarter, down from their prior forecast of ($0.18). Wedbush has a "Neutral" rating and a $13.50 price objective on the stock. The consensus estimate for Sleep Number's current full-year earnings is ($0.42) per share. Wedbush also issued estimates for Sleep Number's Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at ($0.28) EPS, FY2025 earnings at $0.87 EPS and FY2026 earnings at $1.58 EPS.

Several other analysts have also recently commented on SNBR. Piper Sandler increased their price target on shares of Sleep Number from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Thursday. UBS Group lifted their price target on shares of Sleep Number from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Thursday.

Sleep Number Price Performance

Shares of NASDAQ:SNBR traded down $0.55 during midday trading on Monday, reaching $13.63. The company's stock had a trading volume of 582,884 shares, compared to its average volume of 590,705. The company has a market capitalization of $304.30 million, a P/E ratio of -9.45 and a beta of 1.96. Sleep Number has a fifty-two week low of $9.00 and a fifty-two week high of $39.98. The business's fifty day simple moving average is $14.40 and its 200-day simple moving average is $13.82.

Sleep Number (NASDAQ:SNBR - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.03 earnings per share 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 analysts' expectations of $475.17 million. Sleep Number had a negative return on equity of 1.05% and a negative net margin of 1.87%.

Hedge Funds Weigh In On Sleep Number

Several institutional investors and hedge funds have recently made changes to their positions in SNBR. Stadium Capital Management LLC grew its stake in Sleep Number by 51.2% in the third quarter. Stadium Capital Management LLC now owns 2,002,227 shares of the company's stock valued at $49,235,000 after acquiring an additional 678,001 shares during the period. Partnership Wealth Management LLC acquired a new stake in shares of Sleep Number in the fourth quarter valued at about $3,836,000. Jacobs Levy Equity Management Inc. increased its position 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 purchasing an additional 205,015 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position 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 worth $11,896,000 after acquiring an additional 184,038 shares in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC lifted its stake in Sleep Number by 105.5% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 117,397 shares of the company's stock valued at $1,741,000 after purchasing an additional 60,280 shares during the last quarter. Institutional investors and hedge funds own 85.67% of the company's stock.

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.