Sleep Number (NASDAQ:SNBR) Price Target Raised to $13.00 at Piper Sandler

Sleep Number (NASDAQ:SNBR) had its price target raised by Piper Sandler from $12.00 to $13.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

Separately, Wedbush restated a neutral rating and issued a $13.50 price target on shares of Sleep Number in a report on Wednesday, April 17th.

Sleep Number Stock Performance

NASDAQ:SNBR opened at $14.18 on Thursday. Sleep Number has a fifty-two week low of $9.00 and a fifty-two week high of $39.98. The stock has a market capitalization of $316.64 million, a P/E ratio of -9.33 and a beta of 1.96. The company’s 50-day simple moving average is $14.40 and its 200-day simple moving average is $13.82.

Sleep Number (NASDAQ:SNBR) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.44. Sleep Number had a negative net margin of 1.87% and a negative return on equity of 1.05%. The business had revenue of $470.45 million for the quarter, compared to analysts’ expectations of $475.17 million. On average, research analysts forecast that Sleep Number will post -0.42 EPS for the current year.

Hedge Funds Weigh In On Sleep Number

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Stadium Capital Management LLC raised 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 buying an additional 678,001 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Sleep Number by 29.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 802,190 shares of the company’s stock worth $11,896,000 after buying an additional 184,038 shares during the last quarter. SW Investment Management LLC raised its position in Sleep Number by 6.3% during the 3rd quarter. SW Investment Management LLC now owns 584,672 shares of the company’s stock worth $14,377,000 after buying an additional 34,672 shares during the last quarter. Partnership Wealth Management LLC purchased a new position in Sleep Number during the 4th quarter worth approximately $3,836,000. Finally, Jacobs Levy Equity Management Inc. raised 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 buying an additional 205,015 shares during the last quarter. 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.