Sleep Number (NASDAQ:SNBR) Price Target Increased to $13.00 by Analysts at UBS Group

Sleep Number (NASDAQ:SNBR) had its price target upped by analysts at UBS Group from $12.00 to $13.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential downside of 5.52% from the company’s current price.

SNBR has been the subject of several other reports. Wedbush reissued a “neutral” rating and issued a $13.50 price target on shares of Sleep Number in a research note on Thursday. Piper Sandler raised their price objective on shares of Sleep Number from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday.

Sleep Number Trading Up 1.4 %

Shares of SNBR traded up $0.19 during mid-day trading on Thursday, reaching $13.76. 566,773 shares of the stock traded hands, compared to its average volume of 577,118. The firm has a fifty day moving average price of $14.28 and a 200 day moving average price of $13.91. The company has a market cap of $307.26 million, a price-to-earnings ratio of -19.93 and a beta of 1.96. Sleep Number has a 1 year low of $9.00 and a 1 year high of $39.98.

Sleep Number (NASDAQ:SNBR) last announced its earnings results on Wednesday, April 24th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.44. Sleep Number had a negative net margin of 0.81% and a negative return on equity of 1.05%. The company had revenue of $470.45 million during the quarter, compared to analyst estimates of $475.17 million. On average, sell-side analysts anticipate that Sleep Number will post -0.34 EPS for the current year.

Institutional Trading of Sleep Number

Hedge funds have recently bought and sold shares of the stock. Stadium Capital Management LLC grew its holdings 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 valued at $49,235,000 after purchasing an additional 678,001 shares during the last quarter. Partnership Wealth Management LLC purchased a new stake in shares of Sleep Number in the 4th quarter worth approximately $3,836,000. Jacobs Levy Equity Management Inc. lifted its position in Sleep Number by 588.7% during the third 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 last quarter. Charles Schwab Investment Management Inc. lifted its position in Sleep Number by 29.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 802,190 shares of the company’s stock valued at $11,896,000 after acquiring an additional 184,038 shares during the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC increased its stake in Sleep Number by 105.5% during the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 117,397 shares of the company’s stock valued at $1,741,000 after purchasing an additional 60,280 shares in the last quarter. Hedge funds and other 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.