Sleep Number (NASDAQ:SNBR) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Sleep Number (NASDAQ:SNBR) announced its quarterly earnings results on Wednesday. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.08), Zacks reports. The firm had revenue of $342.88 million during the quarter, compared to analysts’ expectations of $362.48 million. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. Sleep Number’s quarterly revenue was down 19.6% on a year-over-year basis. Sleep Number updated its FY 2025 guidance to EPS.

Sleep Number Stock Down 5.0%

SNBR stock traded down $0.24 during mid-day trading on Friday, hitting $4.53. The company had a trading volume of 98,850 shares, compared to its average volume of 634,934. The company has a 50-day moving average price of $7.42 and a 200 day moving average price of $8.09. Sleep Number has a 12-month low of $3.97 and a 12-month high of $20.73. The company has a market capitalization of $103.15 million, a price-to-earnings ratio of -2.49 and a beta of 1.85.

Hedge Funds Weigh In On Sleep Number

Several institutional investors have recently added to or reduced their stakes in SNBR. AQR Capital Management LLC increased its holdings in shares of Sleep Number by 283.3% in the 1st quarter. AQR Capital Management LLC now owns 403,061 shares of the company’s stock worth $2,555,000 after buying an additional 297,916 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Sleep Number by 1,103.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 143,781 shares of the company’s stock worth $971,000 after acquiring an additional 131,838 shares during the last quarter. Bank of America Corp DE raised its position in Sleep Number by 28.4% during the second quarter. Bank of America Corp DE now owns 475,623 shares of the company’s stock valued at $3,213,000 after purchasing an additional 105,329 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Sleep Number by 36.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 228,380 shares of the company’s stock valued at $1,543,000 after purchasing an additional 60,587 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Sleep Number by 20.1% in the 1st quarter. Royal Bank of Canada now owns 355,843 shares of the company’s stock worth $2,256,000 after purchasing an additional 59,510 shares during the period. Hedge funds and other institutional investors own 85.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Sleep Number in a report on Tuesday, October 14th. UBS Group decreased their target price on shares of Sleep Number from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday. Three research 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 company presently has an average rating of “Reduce” and a consensus price target of $8.00.

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.