Sleep Number (NASDAQ:SNBR) Price Target Increased to $13.00 by Analysts at UBS Group

Sleep Number (NASDAQ:SNBR) had its price target boosted by equities research analysts at UBS Group from $12.00 to $13.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential downside of 5.52% from the stock’s previous close.

SNBR has been the topic of several other reports. Piper Sandler increased their price objective on shares of Sleep Number from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday. Wedbush reiterated a “neutral” rating and set a $13.50 price objective on shares of Sleep Number in a report on Thursday.

Sleep Number Stock Up 1.4 %

Shares of Sleep Number stock traded up $0.19 on Thursday, hitting $13.76. The company’s stock had a trading volume of 566,773 shares, compared to its average volume of 577,118. Sleep Number has a 52-week low of $9.00 and a 52-week high of $39.98. The firm has a fifty day moving average price of $14.28 and a 200-day moving average price of $13.91. The company has a market capitalization of $307.26 million, a P/E ratio of -19.93 and a beta of 1.96.

Sleep Number (NASDAQ:SNBR) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.41) by $0.44. Sleep Number had a negative net margin of 0.81% and a negative return on equity of 1.05%. The business had revenue of $470.45 million for the quarter, compared to analyst estimates of $475.17 million. As a group, analysts expect that Sleep Number will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. increased its position in Sleep Number by 588.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 239,838 shares of the company’s stock worth $5,898,000 after purchasing an additional 205,015 shares in the last quarter. Stadium Capital Management LLC increased its position 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 worth $49,235,000 after purchasing an additional 678,001 shares in the last quarter. Swiss National Bank increased its position in Sleep Number by 2.7% during the 3rd quarter. Swiss National Bank now owns 48,800 shares of the company’s stock worth $1,200,000 after purchasing an additional 1,300 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Sleep Number by 15.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 618,152 shares of the company’s stock worth $15,200,000 after purchasing an additional 84,449 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in Sleep Number by 345.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 7,124 shares of the company’s stock worth $175,000 after purchasing an additional 5,525 shares in the last quarter. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

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.