UBS Group Increases Sleep Number (NASDAQ:SNBR) Price Target to $13.00

Sleep Number (NASDAQ:SNBR) had its price objective lifted by investment analysts at UBS Group from $12.00 to $13.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price would indicate a potential downside of 8.32% from the company’s current price.

A number of other equities research analysts have also weighed in on SNBR. Piper Sandler boosted their target price on Sleep Number from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday. Wedbush restated a “neutral” rating and set a $13.50 price target on shares of Sleep Number in a report on Thursday.

Sleep Number Trading Down 0.4 %

NASDAQ SNBR opened at $14.18 on Thursday. Sleep Number has a 1-year low of $9.00 and a 1-year high of $39.98. The stock has a 50-day moving average of $14.40 and a 200-day moving average of $13.89. The firm has a market cap of $316.64 million, a PE ratio of -9.33 and a beta of 1.96.

Sleep Number (NASDAQ:SNBR) last released its 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 return on equity of 1.05% and a negative net margin of 1.87%. The company had revenue of $470.45 million during the quarter, compared to analyst estimates of $475.17 million. As a group, equities research analysts forecast that Sleep Number will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hodges Capital Management Inc. grew its holdings in shares of Sleep Number by 4.7% during the 1st quarter. Hodges Capital Management Inc. now owns 171,900 shares of the company’s stock worth $2,755,000 after acquiring an additional 7,700 shares during the period. GAMMA Investing LLC grew its holdings in shares of Sleep Number by 250.6% during the 1st quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock worth $68,000 after acquiring an additional 3,027 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Sleep Number during the 1st quarter worth approximately $434,000. Invenomic Capital Management LP purchased a new position in shares of Sleep Number during the 4th quarter worth approximately $221,000. Finally, CastleKnight Management LP purchased a new stake in shares of Sleep Number in the 4th quarter worth approximately $365,000. 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.