Sleep Number (NASDAQ:SNBR) Price Target Raised to $16.00 at Piper Sandler

Sleep Number (NASDAQ:SNBR) had its price objective raised by Piper Sandler from $12.00 to $16.00 in a research note published on Tuesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Separately, StockNews.com downgraded Sleep Number from a buy rating to a hold rating in a research report on Friday, August 9th.

Sleep Number Price Performance

Shares of SNBR opened at $18.98 on Tuesday. Sleep Number has a 1 year low of $8.13 and a 1 year high of $27.12. The company has a 50 day simple moving average of $12.79 and a two-hundred day simple moving average of $13.33. The firm has a market cap of $423.75 million, a P/E ratio of -12.49 and a beta of 2.04.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.22. The company had revenue of $408.40 million for the quarter, compared to analysts’ expectations of $415.05 million. During the same period last year, the business earned $0.03 earnings per share. The company’s quarterly revenue was down 11.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Sleep Number will post -0.13 earnings per share for the current year.

Insider Activity

In other news, Director Stephen E. Macadam bought 43,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average cost of $12.35 per share, for a total transaction of $531,050.00. Following the transaction, the director now owns 102,729 shares of the company’s stock, valued at $1,268,703.15. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Sleep Number

Institutional investors have recently bought and sold shares of the stock. Quest Partners LLC bought a new stake in Sleep Number in the fourth quarter worth $62,000. GAMMA Investing LLC lifted its position in Sleep Number by 250.6% in 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 last quarter. Quarry LP bought a new stake in Sleep Number in the second quarter worth $43,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Sleep Number during the first quarter worth $149,000. Finally, XTX Topco Ltd bought a new stake in shares of Sleep Number during the second quarter worth $128,000. 85.67% of the stock is currently owned by institutional investors.

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.