Sleep Number (NASDAQ:SNBR) Receives “Neutral” Rating from Wedbush

Wedbush reissued their neutral rating on shares of Sleep Number (NASDAQ:SNBR) in a research report sent to investors on Thursday morning, Benzinga reports. Wedbush currently has a $13.50 price target on the stock.

Separately, Piper Sandler increased their target price on Sleep Number from $12.00 to $13.00 and gave the company a neutral rating in a report on Thursday.

Sleep Number Stock Up 2.7 %

NASDAQ SNBR traded up $0.38 during trading hours on Thursday, hitting $14.61. The company’s stock had a trading volume of 257,539 shares, compared to its average volume of 586,821. Sleep Number has a twelve month low of $9.00 and a twelve month high of $39.98. The firm has a market capitalization of $326.24 million, a P/E ratio of -9.36 and a beta of 1.96. The stock has a fifty day moving average of $14.34 and a 200 day moving average of $13.91.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings results 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 firm had revenue of $470.45 million for the quarter, compared to analysts’ expectations of $475.17 million. Sleep Number had a negative return on equity of 1.05% and a negative net margin of 1.87%. On average, analysts predict that Sleep Number will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Sleep Number

Institutional investors have recently made changes to their positions in the company. Tectonic Advisors LLC raised its holdings in Sleep Number by 5.7% in the third quarter. Tectonic Advisors LLC now owns 18,597 shares of the company’s stock worth $457,000 after purchasing an additional 1,006 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sleep Number by 27.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,224 shares of the company’s stock valued at $77,000 after purchasing an additional 1,114 shares in the last quarter. Swiss National Bank grew its stake 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 buying an additional 1,300 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC boosted its stake in shares of Sleep Number by 3.6% in the third quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 57,117 shares of the company’s stock worth $1,405,000 after buying an additional 1,975 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Sleep Number by 250.6% during the first 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. Institutional investors 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.