Sleep Number’s (SNBR) “Neutral” Rating Reiterated at Wedbush

Sleep Number (NASDAQ:SNBR)‘s stock had its “neutral” rating reissued by equities research analysts at Wedbush in a research note issued to investors on Thursday, Benzinga reports. They presently have a $13.50 price objective on the stock. Wedbush’s price target points to a potential downside of 3.02% from the company’s current price.

Separately, Piper Sandler lifted their price objective on shares of Sleep Number from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday.

Sleep Number Stock Performance

NASDAQ SNBR traded up $0.35 during trading on Thursday, hitting $13.92. The stock had a trading volume of 520,175 shares, compared to its average volume of 574,996. The stock has a market capitalization of $310.83 million, a price-to-earnings ratio of -20.65 and a beta of 1.96. Sleep Number has a one year low of $9.00 and a one year high of $39.98. The stock has a 50 day simple moving average of $14.28 and a 200 day simple moving average of $13.91.

Sleep Number (NASDAQ:SNBR) last issued its earnings results on Wednesday, April 24th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.44. The business had revenue of $470.45 million for the quarter, compared to analyst estimates of $475.17 million. Sleep Number had a negative net margin of 0.81% and a negative return on equity of 1.05%. On average, sell-side analysts predict that Sleep Number will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Sleep Number

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of Sleep Number during the fourth quarter worth $62,000. GAMMA Investing LLC lifted its position in Sleep Number by 250.6% during the first quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock valued at $68,000 after purchasing an additional 3,027 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Sleep Number by 27.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,224 shares of the company’s stock valued at $77,000 after purchasing an additional 1,114 shares during the period. Public Employees Retirement System of Ohio lifted its position in Sleep Number by 345.5% during the third quarter. Public Employees Retirement System of Ohio now owns 7,124 shares of the company’s stock valued at $175,000 after purchasing an additional 5,525 shares during the period. Finally, Invenomic Capital Management LP acquired a new position in Sleep Number during the fourth quarter valued at $221,000. 85.67% of the stock is owned by hedge funds and other institutional investors.

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.