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

Sleep Number (NASDAQ:SNBR - Get Free Report) had its target price hoisted by equities researchers at UBS Group from $12.00 to $13.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's target price points to a potential downside of 8.64% from the company's previous close.

Other analysts have also recently issued reports about the company. Wedbush reissued a "neutral" rating and set a $13.50 price target on shares of Sleep Number in a report on Thursday. Piper Sandler lifted 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 Price Performance

SNBR stock traded up $0.66 during midday trading on Thursday, reaching $14.23. 1,651,174 shares of the company were exchanged, compared to its average volume of 591,088. The firm has a market capitalization of $317.76 million, a price-to-earnings ratio of -20.93 and a beta of 1.96. The business has a 50-day moving average price of $14.34 and a two-hundred day moving average price of $13.91. Sleep Number has a one year low of $9.00 and a one year high of $39.98.

Sleep Number (NASDAQ:SNBR - Get Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.41) by $0.44. The business had revenue of $470.45 million during the quarter, compared to the consensus estimate of $475.17 million. Sleep Number had a negative net margin of 0.81% and a negative return on equity of 1.05%. As a group, analysts anticipate that Sleep Number will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Stadium Capital Management LLC increased 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 last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Sleep Number by 29.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 802,190 shares of the company's stock valued at $11,896,000 after purchasing an additional 184,038 shares during the last quarter. SW Investment Management LLC increased its stake in shares of Sleep Number by 6.3% in the 3rd quarter. SW Investment Management LLC now owns 584,672 shares of the company's stock valued at $14,377,000 after purchasing an additional 34,672 shares during the last quarter. Partnership Wealth Management LLC acquired a new position in shares of Sleep Number during the 4th quarter worth $3,836,000. Finally, Jacobs Levy Equity Management Inc. lifted 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 buying an additional 205,015 shares during the last quarter. Institutional investors 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.