UBS Group Cuts Sleep Number (NASDAQ:SNBR) Price Target to $6.00

Sleep Number (NASDAQ:SNBR) had its target price cut by UBS Group from $7.00 to $6.00 in a research report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sleep Number in a research report on Tuesday, October 14th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Sleep Number has an average rating of “Reduce” and an average price target of $8.00.

Sleep Number Price Performance

Shares of SNBR stock opened at $4.61 on Thursday. The business has a fifty day moving average of $7.30 and a 200 day moving average of $8.10. Sleep Number has a 1 year low of $3.97 and a 1 year high of $20.73. The firm has a market capitalization of $104.97 million, a price-to-earnings ratio of -2.53 and a beta of 1.85.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.08). The business had revenue of $342.88 million during the quarter, compared to analyst estimates of $362.48 million. The business’s revenue was down 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) EPS. Sleep Number has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Sleep Number will post -0.42 earnings per share for the current year.

Institutional Investors Weigh In On Sleep Number

Several hedge funds have recently bought and sold shares of SNBR. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Sleep Number during the 3rd quarter worth approximately $70,000. Sei Investments Co. purchased a new stake in Sleep Number during the second quarter worth $73,000. CWM LLC grew its position in Sleep Number by 218.7% during the first quarter. CWM LLC now owns 11,963 shares of the company’s stock valued at $76,000 after buying an additional 8,209 shares during the period. Inscription Capital LLC purchased a new position in Sleep Number in the third quarter valued at $91,000. Finally, First Dallas Securities Inc. acquired a new position in shares of Sleep Number in the third quarter worth about $91,000. Hedge funds and other 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.