Sleep Number (NASDAQ:SNBR) PT Raised to $13.00

Sleep Number (NASDAQ:SNBR) had its price target boosted by UBS Group from $12.00 to $13.00 in a research note released on Thursday morning, Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other research analysts have also recently weighed in on SNBR. Piper Sandler upped their price target on shares of Sleep Number from $12.00 to $13.00 and gave the company a neutral rating in a report on Thursday. Wedbush reissued a neutral rating and issued a $13.50 price objective on shares of Sleep Number in a research report on Thursday.

Sleep Number Price Performance

Shares of Sleep Number stock traded up $0.38 during trading on Thursday, hitting $14.61. 257,539 shares of the company’s stock traded hands, compared to its average volume of 586,821. The firm’s fifty day moving average price is $14.34 and its 200 day moving average price is $13.91. Sleep Number has a twelve month low of $9.00 and a twelve month high of $39.98. The company has a market cap of $326.24 million, a PE ratio of -9.36 and a beta of 1.96.

Sleep Number (NASDAQ:SNBR) last announced its earnings results on Wednesday, April 24th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 1.87% and a negative return on equity of 1.05%. As a group, equities research analysts anticipate that Sleep Number will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Stadium Capital Management LLC grew its stake in shares of Sleep Number by 51.2% in 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 in the last quarter. Partnership Wealth Management LLC purchased a new stake in Sleep Number in the fourth quarter valued at approximately $3,836,000. Jacobs Levy Equity Management Inc. raised its stake in Sleep Number by 588.7% in the third 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. Charles Schwab Investment Management Inc. raised its stake in Sleep Number by 29.8% in the fourth 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 in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC grew its position in Sleep Number by 105.5% during the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 117,397 shares of the company’s stock valued at $1,741,000 after acquiring an additional 60,280 shares during the last quarter. Institutional investors and hedge funds 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.