Zacks Investment Research Downgrades Casper Sleep (NASDAQ:CSPR) to Sell

Zacks Investment Research lowered shares of Casper Sleep (NASDAQ:CSPR) from a hold rating to a sell rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “Casper Sleep Inc. manufactures home furnishing products principally in the United States, Canada and Europe. It offers Casper mattresses, pillows, sheets and duvets, bedroom furniture and accessories, sleep technology, and related services through its e-commerce platform, 60 Casper retail stores and 18 retail partners. Casper Sleep Inc. is based in New York. “

Several other research analysts have also weighed in on CSPR. UBS Group dropped their price target on Casper Sleep from $10.00 to $7.50 and set a neutral rating on the stock in a research report on Wednesday, May 13th. Wedbush upped their price target on Casper Sleep from $3.50 to $7.00 and gave the company a neutral rating in a research report on Wednesday, April 22nd. Citigroup dropped their price target on Casper Sleep from $12.00 to $5.00 and set a buy rating on the stock in a research report on Wednesday, March 25th. Jefferies Financial Group upped their price target on Casper Sleep from $8.00 to $9.00 and gave the company a buy rating in a research report on Wednesday, May 13th. Finally, Morgan Stanley upped their price target on Casper Sleep from $4.00 to $6.00 and gave the company an equal weight rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Casper Sleep presently has an average rating of Hold and a consensus price target of $9.94.

Shares of Casper Sleep stock opened at $8.17 on Wednesday. The stock’s fifty day moving average is $8.25. Casper Sleep has a 12-month low of $3.15 and a 12-month high of $15.85.

Casper Sleep (NASDAQ:CSPR) last announced its earnings results on Tuesday, May 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.33). The firm had revenue of $113.04 million during the quarter, compared to the consensus estimate of $111.50 million.

A number of hedge funds have recently modified their holdings of CSPR. NEA Management Company LLC acquired a new position in Casper Sleep in the 1st quarter worth about $26,710,000. BlackRock Inc. acquired a new position in Casper Sleep in the 1st quarter worth about $6,599,000. Granahan Investment Management Inc. MA acquired a new position in Casper Sleep in the 1st quarter worth about $2,089,000. Maverick Capital Ltd. acquired a new position in Casper Sleep in the 1st quarter worth about $868,000. Finally, Morgan Stanley bought a new stake in shares of Casper Sleep during the 1st quarter worth about $470,000.

About Casper Sleep

Casper Sleep Inc provides sleep products to consumers in the United States, Canada, and Europe. It offers a range of Casper mattresses, pillows, sheets and duvets, bedroom furniture and accessories, sleep technology, and related services through its e-commerce platform, 60 Casper retail stores, and 18 retail partners.

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Analyst Recommendations for Casper Sleep (NASDAQ:CSPR)

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