Sleep Number (NASDAQ:SNBR) Upgraded to “Buy” at BidaskClub

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

Other research analysts also recently issued reports about the stock. Piper Sandler raised their price objective on shares of Sleep Number from $28.00 to $29.00 and gave the stock a neutral rating in a research report on Thursday, April 23rd. ValuEngine raised shares of Sleep Number from a sell rating to a hold rating in a research report on Monday, June 1st. Raymond James downgraded shares of Sleep Number from an outperform rating to a market perform rating in a report on Wednesday, March 25th. UBS Group lowered 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. Finally, Zacks Investment Research raised shares of Sleep Number from a hold rating to a buy rating and set a $43.00 target price on the stock in a report on Tuesday, June 16th. Two equities research 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. The company presently has a consensus rating of Hold and an average price target of $38.38.

Shares of Sleep Number stock opened at $42.93 on Friday. Sleep Number has a 1 year low of $15.27 and a 1 year high of $61.00. The company has a market capitalization of $1.14 billion, a P/E ratio of 13.17, a PEG ratio of 2.60 and a beta of 2.20. The company’s fifty day moving average is $35.94 and its two-hundred day moving average is $39.40.

Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $1.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.64. Sleep Number had a net margin of 5.48% and a negative return on equity of 59.24%. The company had revenue of $473.00 million for the quarter, compared to the consensus estimate of $433.19 million. During the same period last year, the firm posted $0.80 EPS. Sleep Number’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, sell-side analysts anticipate 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 firm’s 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.00% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of Sleep Number by 3.1% in the first quarter. State Street Corp now owns 858,176 shares of the company’s stock valued at $16,443,000 after purchasing an additional 26,149 shares during the period. Royal Bank of Canada lifted its stake in shares of Sleep Number by 117.6% in the first quarter. Royal Bank of Canada now owns 17,003 shares of the company’s stock valued at $325,000 after purchasing an additional 9,189 shares during the period. State of Tennessee Treasury Department lifted its stake in shares of Sleep Number by 4.9% in the first quarter. State of Tennessee Treasury Department now owns 24,954 shares of the company’s stock valued at $478,000 after purchasing an additional 1,169 shares during the period. Morgan Stanley lifted its stake in shares of Sleep Number by 3.7% in the first quarter. Morgan Stanley now owns 460,999 shares of the company’s stock valued at $8,832,000 after purchasing an additional 16,301 shares during the period. Finally, Twinbeech Capital LP lifted its stake in shares of Sleep Number by 91.5% in the first quarter. Twinbeech Capital LP now owns 17,174 shares of the company’s stock valued at $329,000 after purchasing an additional 8,206 shares during the period.

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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