Sleep Number Co. Expected to Earn Q2 2024 Earnings of ($0.19) Per Share (NASDAQ:SNBR)

Sleep Number Co. (NASDAQ:SNBR) – Analysts at Wedbush dropped their Q2 2024 earnings estimates for Sleep Number in a report issued on Thursday, April 25th. Wedbush analyst S. Basham now expects that the company will post earnings of ($0.19) per share for the quarter, down from their previous forecast of ($0.18). Wedbush has a “Neutral” rating and a $13.50 price target on the stock. The consensus estimate for Sleep Number’s current full-year earnings is ($0.42) per share. Wedbush also issued estimates for Sleep Number’s Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at ($0.28) EPS, FY2025 earnings at $0.87 EPS and FY2026 earnings at $1.58 EPS.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $470.45 million for the quarter, compared to analyst estimates of $475.17 million.

Several other analysts have also recently issued reports on SNBR. Piper Sandler increased their target price on shares of Sleep Number from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. UBS Group lifted their price target on Sleep Number from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th.

Sleep Number Stock Down 2.3 %

Shares of NASDAQ SNBR opened at $13.31 on Monday. Sleep Number has a 52 week low of $9.00 and a 52 week high of $39.98. The company has a market cap of $297.21 million, a P/E ratio of -8.76 and a beta of 1.96. The business has a 50-day simple moving average of $14.48 and a two-hundred day simple moving average of $13.76.

Institutional Investors Weigh In On Sleep Number

Several hedge funds have recently added to or reduced their stakes in SNBR. Stadium Capital Management LLC raised its position in Sleep Number by 51.2% in 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 during the period. Partnership Wealth Management LLC bought a new stake in shares of Sleep Number in the 4th quarter valued at about $3,836,000. Jacobs Levy Equity Management Inc. boosted its holdings 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 valued at $5,898,000 after acquiring an additional 205,015 shares during the period. Charles Schwab Investment Management Inc. grew 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 acquiring an additional 184,038 shares during the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC raised its stake in shares of Sleep Number by 105.5% during the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 117,397 shares of the company’s stock valued at $1,741,000 after acquiring an additional 60,280 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.