Sleep Number (NASDAQ:SNBR) Earns Neutral Rating from Wedbush

Sleep Number (NASDAQ:SNBR - Get Free Report)'s stock had its "neutral" rating reissued by stock analysts at Wedbush in a report issued on Thursday, Benzinga reports. They currently have a $13.50 price target on the stock. Wedbush's target price points to a potential downside of 5.13% from the stock's current price.

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

Sleep Number Stock Up 4.9 %

Shares of NASDAQ SNBR traded up $0.66 on Thursday, reaching $14.23. 1,651,174 shares of the company's stock traded hands, compared to its average volume of 591,088. The company has a market cap of $317.76 million, a price-to-earnings ratio of -20.93 and a beta of 1.96. The business's 50 day simple moving average is $14.34 and its two-hundred day simple moving average is $13.91. Sleep Number has a 12 month low of $9.00 and a 12 month high of $39.98.

Sleep Number (NASDAQ:SNBR - Get Free Report) last announced 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 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%. Analysts forecast that Sleep Number will post -0.34 earnings per share 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 SNBR. Stadium Capital Management LLC boosted its stake in shares of Sleep Number by 51.2% during the 3rd quarter. Stadium Capital Management LLC now owns 2,002,227 shares of the company's stock worth $49,235,000 after acquiring an additional 678,001 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Sleep Number by 29.8% during the 4th 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 during the last quarter. SW Investment Management LLC boosted its stake in shares of Sleep Number by 6.3% during the 3rd quarter. SW Investment Management LLC now owns 584,672 shares of the company's stock worth $14,377,000 after acquiring an additional 34,672 shares during the last quarter. Partnership Wealth Management LLC purchased a new position in shares of Sleep Number during the 4th quarter worth $3,836,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake 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 during the last quarter. Hedge funds and other 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.