Piper Sandler Raises Sleep Number (NASDAQ:SNBR) Price Target to $13.00

Sleep Number (NASDAQ:SNBR) had its target price raised by equities researchers at Piper Sandler from $12.00 to $13.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target suggests a potential downside of 4.20% from the stock’s previous close.

Separately, Wedbush restated a “neutral” rating and issued a $13.50 price target on shares of Sleep Number in a report on Wednesday, April 17th.

Sleep Number Stock Down 7.1 %

Shares of NASDAQ:SNBR opened at $13.57 on Thursday. The company has a market cap of $303.02 million, a price-to-earnings ratio of -19.96 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 firm’s 50-day simple moving average is $14.28 and its 200-day simple moving average is $13.91.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.41) by $0.44. The business 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 0.81%. On average, research analysts forecast that Sleep Number will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNBR. Stadium Capital Management LLC grew its holdings in Sleep Number by 51.2% during the 3rd quarter. Stadium Capital Management LLC now owns 2,002,227 shares of the company’s stock valued at $49,235,000 after buying 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 fourth quarter. Charles Schwab Investment Management Inc. now owns 802,190 shares of the company’s stock valued at $11,896,000 after acquiring an additional 184,038 shares during the last quarter. SW Investment Management LLC increased its position in 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 purchasing an additional 34,672 shares in the last quarter. Partnership Wealth Management LLC acquired a new position in Sleep Number in the 4th quarter valued at about $3,836,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Sleep Number by 588.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 239,838 shares of the company’s stock valued at $5,898,000 after purchasing an additional 205,015 shares in the last quarter. 85.67% of the stock is currently owned by institutional investors and hedge funds.

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.