Piper Sandler Has Lowered Expectations for Sleep Number (NASDAQ:SNBR) Stock Price

Sleep Number (NASDAQ:SNBR) had its price target decreased by equities researchers at Piper Sandler from $12.00 to $5.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 40.85% from the company’s previous close.

SNBR has been the topic of a number of other reports. UBS Group reiterated a “neutral” rating and set a $10.00 price target on shares of Sleep Number in a research note on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sleep Number in a report on Friday, January 9th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Sleep Number presently has a consensus rating of “Reduce” and a consensus price target of $7.50.

Sleep Number Stock Down 3.3%

Shares of NASDAQ SNBR traded down $0.12 during mid-day trading on Friday, hitting $3.55. 1,352,927 shares of the company were exchanged, compared to its average volume of 850,644. The stock has a 50 day simple moving average of $8.91 and a 200-day simple moving average of $7.76. Sleep Number has a 1-year low of $3.49 and a 1-year high of $13.94. The firm has a market cap of $80.90 million, a price-to-earnings ratio of -1.05 and a beta of 1.93.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($2.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($1.99). The business had revenue of $347.39 million for the quarter, compared to the consensus estimate of $328.67 million. During the same quarter in the prior year, the company earned ($0.21) earnings per share. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. Analysts anticipate that Sleep Number will post -0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sleep Number

A number of large investors have recently made changes to their positions in the stock. Marks Group Wealth Management Inc acquired a new stake in shares of Sleep Number in the fourth quarter valued at about $85,000. Vanguard Personalized Indexing Management LLC purchased a new position in Sleep Number in the third quarter valued at about $70,000. Bank of Montreal Can acquired a new stake in shares of Sleep Number during the 4th quarter valued at approximately $89,000. Sei Investments Co. purchased a new stake in shares of Sleep Number during the 2nd quarter worth approximately $73,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Sleep Number during the 3rd quarter worth approximately $87,000. Hedge funds and other institutional investors own 85.67% of the company’s stock.

More Sleep Number News

Here are the key news stories impacting Sleep Number this week:

• Positive Sentiment: Launched a major product reset — five new beds aimed at delivering a more luxurious experience at lower price points; management says availability starts March 23, which could help drive demand and better conversion if execution is strong. Sleep Number Redesigns Its Mattress Portfolio
• Positive Sentiment: Revenue topped analyst expectations for Q4 — the company reported roughly $347M in revenue versus consensus near $329M and said it exceeded 2025 guidance, signaling some operational progress during the turnaround. Sleep Number Exceeds Q4 Expectations
• Positive Sentiment: Management presented a plan targeting double-digit sales growth in the second half and highlighted cost reductions and a product/marketing reset — positive if execution sustains revenue and margin recovery. Sleep Number outlines double-digit second-half sales growth
• Neutral Sentiment: Full earnings call and transcripts are available for investors to review management’s commentary and Q&A for color on cadence to recovery and inventory/marketing plans. Q4 2025 Earnings Call Summary
• Neutral Sentiment: Product details and timing are public (March 23 online/in-store); market impact will depend on early sell-through and promotional strategy. Product Portfolio Coverage
• Negative Sentiment: Large EPS miss — the company reported a sizable per-share loss (well below consensus), which shocked the market and pressured the stock despite the revenue beat. This raises near-term profitability and cash-flow concerns. Q4 Loss Tops Estimates (Zacks)
• Negative Sentiment: Revenue declined ~7.8% year-over-year and margins remain under pressure (pro‑forma adjusted EBITDA ~9% for 2025), keeping execution risk and investor skepticism high while the turnaround progresses. Q4 and Full-Year 2025 Results (Business Wire)

About Sleep Number

Sleep Number Corporation (NASDAQ: SNBR) is a Minneapolis‐based company specializing in the design, manufacture and retail of adjustable air mattresses and bedding products. The company’s flagship Sleep Number® bed features dual air chambers that allow each side of the mattress to be tailored to an individual’s preferred firmness, supported by integrated SleepIQ® technology. This proprietary monitoring system tracks biometric data such as heart rate, breathing and motion, delivering personalized sleep insights through a connected app.

Founded in 1987 as Select Comfort, the business pioneered adjustable air mattress technology and has since grown into a direct-to-consumer retailer.