BidaskClub upgraded shares of Sleep Number (NASDAQ:SNBR) from a hold rating to a buy rating in a report published on Saturday, BidAskClub reports.

SNBR has been the topic of a number of other reports. Wedbush increased their target price on shares of Sleep Number from $25.00 to $30.00 and gave the stock a neutral rating in a report on Monday, April 13th. UBS Group dropped their target price on shares of Sleep Number from $34.00 to $18.00 and set a sell rating on the stock in a report on Monday, March 30th. Raymond James cut shares of Sleep Number from an outperform rating to a market perform rating in a report on Wednesday, March 25th. Zacks Investment Research raised shares of Sleep Number from a hold rating to a buy rating and set a $43.00 price objective on the stock in a report on Tuesday, June 16th. Finally, Piper Sandler increased their price objective on shares of Sleep Number from $28.00 to $29.00 and gave the stock a neutral rating in a report on Thursday, April 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Sleep Number presently has a consensus rating of Hold and a consensus price target of $38.38.

SNBR opened at $42.93 on Friday. The stock has a market capitalization of $1.14 billion, a PE ratio of 13.17, a P/E/G ratio of 2.60 and a beta of 2.20. Sleep Number has a 12-month low of $15.27 and a 12-month high of $61.00. The firm’s fifty day moving average price is $35.94 and its 200 day moving average price is $39.40.

Sleep Number (NASDAQ:SNBR) last issued its earnings results on Wednesday, April 22nd. The company reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.64. The company had revenue of $473.00 million for the quarter, compared to analysts’ expectations of $433.19 million. Sleep Number had a net margin of 5.48% and a negative return on equity of 59.24%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. On average, sell-side analysts predict that Sleep Number will post 1.57 earnings per share for the current year.

In related news, CAO Robert Joseph Poirier sold 2,786 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $30.78, for a total value of $85,753.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SNBR. Norges Bank bought a new position in Sleep Number in the 4th quarter valued at about $22,426,000. Maverick Capital Ltd. lifted its stake in Sleep Number by 4,054.5% during the fourth quarter. Maverick Capital Ltd. now owns 268,918 shares of the company’s stock valued at $13,242,000 after buying an additional 262,445 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Sleep Number during the first quarter valued at about $4,688,000. Alliancebernstein L.P. lifted its stake in Sleep Number by 11.6% during the first quarter. Alliancebernstein L.P. now owns 1,623,407 shares of the company’s stock valued at $31,104,000 after buying an additional 169,240 shares in the last quarter. Finally, Man Group plc lifted its stake in Sleep Number by 44.8% during the fourth quarter. Man Group plc now owns 522,495 shares of the company’s stock valued at $25,728,000 after buying an additional 161,677 shares in the last quarter.

About Sleep Number

Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. It designs, manufactures, markets, retails, and services beds, bases, and bedding accessories under the Sleep Number name. The company also offers adjustable bases under the FlextFit name; and pillows, temperature-balancing products, beds for kids, sheets, and other bedding products under the Sleep Number name.

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Analyst Recommendations for Sleep Number (NASDAQ:SNBR)

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