Sleep Number (NASDAQ:SNBR) Given New $13.00 Price Target at Piper Sandler

Sleep Number (NASDAQ:SNBR) had its target price lifted by Piper Sandler from $12.00 to $13.00 in a report issued on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

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

Sleep Number Stock Up 2.5 %

SNBR traded up $0.36 on Thursday, reaching $14.59. The company had a trading volume of 229,355 shares, compared to its average volume of 586,505. Sleep Number has a 1 year low of $9.00 and a 1 year high of $39.98. The stock has a market capitalization of $325.79 million, a PE ratio of -9.36 and a beta of 1.96. The stock has a 50-day moving average price of $14.34 and a 200-day moving average price 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 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 firm had revenue of $470.45 million during the quarter, compared to analysts’ expectations of $475.17 million. As a group, analysts expect that Sleep Number will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SNBR. Quest Partners LLC acquired a new position in shares of Sleep Number during the fourth quarter worth about $62,000. GAMMA Investing LLC grew its position in Sleep Number by 250.6% during the first quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock worth $68,000 after buying an additional 3,027 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Sleep Number by 27.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,224 shares of the company’s stock worth $77,000 after buying an additional 1,114 shares during the period. Public Employees Retirement System of Ohio grew its position in Sleep Number by 345.5% during the third quarter. Public Employees Retirement System of Ohio now owns 7,124 shares of the company’s stock worth $175,000 after buying an additional 5,525 shares during the period. Finally, Invenomic Capital Management LP acquired a new position in Sleep Number during the fourth quarter worth about $221,000. 85.67% of the stock is currently owned by institutional investors and hedge funds.

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.