Sleep Number Co. Expected to Earn Q2 2024 Earnings of ($0.19) Per Share (NASDAQ:SNBR)

Sleep Number Co. (NASDAQ:SNBR) – Equities researchers at Wedbush lowered their Q2 2024 earnings per share (EPS) estimates for Sleep Number in a research report issued on Thursday, April 25th. Wedbush analyst S. Basham now anticipates that the company will post earnings per share of ($0.19) for the quarter, down from their prior forecast of ($0.18). Wedbush currently has a “Neutral” rating and a $13.50 target price on the stock. The consensus estimate for Sleep Number’s current full-year earnings is ($0.42) per share. Wedbush also issued estimates for Sleep Number’s Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at ($0.28) EPS, FY2025 earnings at $0.87 EPS and FY2026 earnings at $1.58 EPS.

Sleep Number (NASDAQ:SNBR) last released its quarterly earnings data 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 business had revenue of $470.45 million for the quarter, compared to analyst estimates of $475.17 million. Sleep Number had a negative return on equity of 1.05% and a negative net margin of 1.87%.

Other equities analysts have also issued reports about the company. UBS Group boosted their price target on Sleep Number from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Piper Sandler boosted their price target on Sleep Number from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th.

Sleep Number Stock Performance

Sleep Number stock opened at $13.31 on Monday. The stock’s 50 day moving average price is $14.48 and its 200 day moving average price is $13.76. The firm has a market capitalization of $297.21 million, a PE ratio of -8.76 and a beta of 1.96. Sleep Number has a one year low of $9.00 and a one year high of $39.98.

Institutional Investors Weigh In On Sleep Number

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Tectonic Advisors LLC increased its holdings in Sleep Number by 5.7% during the 3rd quarter. Tectonic Advisors LLC now owns 18,597 shares of the company’s stock worth $457,000 after purchasing an additional 1,006 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sleep Number by 27.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,224 shares of the company’s stock valued at $77,000 after acquiring an additional 1,114 shares during the last quarter. Swiss National Bank increased its holdings in shares of Sleep Number by 2.7% in the 3rd quarter. Swiss National Bank now owns 48,800 shares of the company’s stock valued at $1,200,000 after acquiring an additional 1,300 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC increased its holdings in shares of Sleep Number by 3.6% in the 3rd quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 57,117 shares of the company’s stock valued at $1,405,000 after acquiring an additional 1,975 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Sleep Number by 250.6% in the 1st quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock valued at $68,000 after acquiring an additional 3,027 shares during the last quarter. 85.67% of the stock is currently 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.