UBS Group Issues Pessimistic Forecast for Sleep Number (NASDAQ:SNBR) Stock Price

Sleep Number (NASDAQ:SNBR) had its price target reduced by UBS Group from $7.00 to $6.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target points to a potential upside of 30.15% from the stock’s previous close.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sleep Number in a report on Tuesday, October 14th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $8.00.

Sleep Number Price Performance

Shares of NASDAQ SNBR opened at $4.61 on Thursday. The stock has a fifty day moving average price of $7.30 and a 200 day moving average price of $8.08. Sleep Number has a 1-year low of $3.97 and a 1-year high of $20.73. The company has a market cap of $104.97 million, a PE ratio of -2.53 and a beta of 1.85.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.08). The company had revenue of $342.88 million for the quarter, compared to analysts’ expectations of $362.48 million. The firm’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.07) earnings per share. Sleep Number has set its FY 2025 guidance at EPS. Analysts anticipate that Sleep Number will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sleep Number

Hedge funds have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Sleep Number in the third quarter valued at approximately $70,000. Sei Investments Co. purchased a new stake in Sleep Number in the 2nd quarter worth approximately $73,000. CWM LLC grew its stake in Sleep Number by 218.7% in the 1st quarter. CWM LLC now owns 11,963 shares of the company’s stock worth $76,000 after acquiring an additional 8,209 shares during the period. Inscription Capital LLC acquired a new position in Sleep Number in the 3rd quarter valued at $91,000. Finally, First Dallas Securities Inc. purchased a new position in shares of Sleep Number during the 3rd quarter worth $91,000. 85.67% of the stock is owned by institutional investors and hedge funds.

About Sleep Number

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.