Wedbush Analysts Cut Earnings Estimates for Sleep Number Co. (NASDAQ:SNBR)

Sleep Number Co. (NASDAQ:SNBR) – Analysts at Wedbush decreased their Q2 2024 earnings per share (EPS) estimates for Sleep Number in a research report issued on Thursday, April 25th. Wedbush analyst S. Basham now anticipates that the company will post earnings of ($0.19) per share for the quarter, down from their previous estimate of ($0.18). Wedbush currently has a “Neutral” rating and a $13.50 target price on the stock. The consensus estimate for Sleep Number’s current full-year earnings is ($0.42) per share. Wedbush also issued estimates for Sleep Number’s Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at ($0.28) EPS, FY2025 earnings at $0.87 EPS and FY2026 earnings at $1.58 EPS.

Sleep Number (NASDAQ:SNBR) last posted its earnings results on Wednesday, April 24th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.44. The company had revenue of $470.45 million for the quarter, compared to analysts’ expectations of $475.17 million. Sleep Number had a negative return on equity of 1.05% and a negative net margin of 1.87%.

A number of other equities analysts have also weighed in on SNBR. UBS Group boosted their price objective on shares of Sleep Number from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday. Piper Sandler increased their price target on Sleep Number from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday.

Sleep Number Stock Down 0.4 %

Shares of SNBR opened at $14.18 on Monday. The business’s 50 day moving average price is $14.40 and its 200-day moving average price is $13.82. Sleep Number has a 52 week low of $9.00 and a 52 week high of $39.98. The stock has a market cap of $316.64 million, a P/E ratio of -9.33 and a beta of 1.96.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new stake in Sleep Number in the fourth quarter worth about $62,000. GAMMA Investing LLC grew its holdings in shares of Sleep Number by 250.6% during the first quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock valued at $68,000 after buying an additional 3,027 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Sleep Number by 27.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,224 shares of the company’s stock valued at $77,000 after purchasing an additional 1,114 shares during the period. Public Employees Retirement System of Ohio lifted its position in Sleep Number by 345.5% during the third quarter. Public Employees Retirement System of Ohio now owns 7,124 shares of the company’s stock valued at $175,000 after purchasing an additional 5,525 shares during the period. Finally, Invenomic Capital Management LP acquired a new position in shares of Sleep Number in the fourth quarter worth about $221,000. Hedge funds and other institutional investors own 85.67% of the company’s stock.

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.