Sleep Number (NASDAQ:SNBR) Given New $12.00 Price Target at Wedbush

Sleep Number (NASDAQ:SNBR) had its price target cut by Wedbush from $18.00 to $12.00 in a research note released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock. Wedbush also issued estimates for Sleep Number’s Q1 2025 earnings at $0.16 EPS and Q2 2025 earnings at ($0.02) EPS.

Separately, StockNews.com raised shares of Sleep Number from a “hold” rating to a “buy” rating in a report on Thursday, January 9th.

Sleep Number Stock Performance

Shares of SNBR opened at $7.57 on Thursday. The company has a market cap of $169.35 million, a price-to-earnings ratio of -4.18 and a beta of 2.14. The firm has a fifty day moving average of $15.81 and a 200-day moving average of $15.70. Sleep Number has a 1 year low of $6.91 and a 1 year high of $20.75.

Institutional Investors Weigh In On Sleep Number

Institutional investors have recently bought and sold shares of the stock. Stadium Capital Management LLC raised its position in Sleep Number by 30.3% in the fourth quarter. Stadium Capital Management LLC now owns 2,616,459 shares of the company’s stock worth $39,875,000 after acquiring an additional 608,092 shares in the last quarter. Vanguard Group Inc. raised its position in Sleep Number by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 1,254,866 shares of the company’s stock worth $19,124,000 after acquiring an additional 9,232 shares in the last quarter. Hodges Capital Management Inc. raised its position in Sleep Number by 22.7% in the fourth quarter. Hodges Capital Management Inc. now owns 1,240,507 shares of the company’s stock worth $18,905,000 after acquiring an additional 229,587 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. raised its position in Sleep Number by 2.9% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 997,302 shares of the company’s stock worth $15,199,000 after acquiring an additional 28,492 shares in the last quarter. Finally, Brightlight Capital Management LP raised its position in Sleep Number by 12.3% in the fourth quarter. Brightlight Capital Management LP now owns 982,488 shares of the company’s stock worth $14,973,000 after acquiring an additional 107,837 shares in the last quarter. Institutional investors and hedge funds own 85.67% of the company’s stock.

Sleep Number Company Profile

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.