Piper Sandler Lowers Sleep Number (NASDAQ:SNBR) Price Target to $5.00

Sleep Number (NASDAQ:SNBR) had its target price reduced by investment analysts at Piper Sandler from $12.00 to $5.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price points to a potential upside of 44.93% from the company’s current price.

SNBR has been the subject of a number of other reports. UBS Group reissued a “neutral” rating and issued a $10.00 price target on shares of Sleep Number in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sleep Number in a research report on Friday, January 9th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $4.50.

Sleep Number Trading Down 6.0%

NASDAQ:SNBR opened at $3.45 on Friday. The business’s fifty day moving average price is $8.81 and its 200 day moving average price is $7.70. The firm has a market capitalization of $78.63 million, a price-to-earnings ratio of -0.60 and a beta of 1.93. Sleep Number has a 1-year low of $3.44 and a 1-year high of $13.94.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($2.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($1.99). The business had revenue of $347.39 million during the quarter, compared to analysts’ expectations of $328.67 million. During the same period in the previous year, the firm earned ($0.21) EPS. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. Equities analysts forecast that Sleep Number will post -0.42 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SNBR. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Sleep Number in the 3rd quarter valued at $70,000. Sei Investments Co. acquired a new position in Sleep Number during the second quarter worth $73,000. Marks Group Wealth Management Inc acquired a new position in Sleep Number during the fourth quarter worth $85,000. Sherbrooke Park Advisers LLC bought a new position in Sleep Number during the third quarter valued at about $87,000. Finally, Bank of Montreal Can bought a new position in Sleep Number during the fourth quarter valued at about $89,000. Institutional investors and hedge funds own 85.67% of the company’s stock.

Sleep Number News Summary

Here are the key news stories impacting Sleep Number this week:

• Positive Sentiment: Management announced a major product reset — five new beds aimed at delivering a more approachable luxury offering that could re‑ignite demand and improve price competitiveness. Product launch starts March 23; this is being framed as the largest portfolio refresh in nearly a decade. Sleep Number Redesigns Its Mattress Portfolio
• Positive Sentiment: Company reiterated a turnaround plan, calling for double‑digit second‑half sales growth and noting progress on cost reductions and margin recovery (pro‑forma adjusted EBITDA ~9% for FY25). This provides a timeline for improvement that could support recovery if execution meets guidances. Sleep Number outlines double-digit second-half sales growth
• Neutral Sentiment: Top line slightly beat estimates — Q4 revenue of $347M topped consensus (~$328M) despite being down ~7.8% year‑over‑year. A revenue beat eases some concern but the decline underscores continuing demand weakness. Sleep Number Announces Fourth-Quarter and Full-Year 2025 Results
• Neutral Sentiment: Analyst action: Piper Sandler cut its price target from $12 to $5 and assigned a “neutral” rating — a lower bar for expectations but still implies upside from current levels, adding mixed signals for sentiment. Benzinga
• Negative Sentiment: A large EPS miss: Sleep Number reported a substantial loss (reported as ($2.55)/share in company release and other outlets noting deepened per‑share losses versus expectations), missing consensus by a wide margin. The magnitude of the EPS miss increases near‑term uncertainty and likely drove selling pressure. Sleep Number Q4 Earnings Report
• Negative Sentiment: Stock is trading near its 52‑week low and saw elevated volume on the news, reflecting weak investor confidence until clearer signs of demand recovery and margin stabilization appear. Zacks: Q4 Loss, Tops Revenue Estimates

About Sleep Number

Sleep Number Corporation (NASDAQ: SNBR) is a Minneapolis‐based company specializing in the design, manufacture and retail of adjustable air mattresses and bedding products. The company’s flagship Sleep Number® bed features dual air chambers that allow each side of the mattress to be tailored to an individual’s preferred firmness, supported by integrated SleepIQ® technology. This proprietary monitoring system tracks biometric data such as heart rate, breathing and motion, delivering personalized sleep insights through a connected app.

Founded in 1987 as Select Comfort, the business pioneered adjustable air mattress technology and has since grown into a direct-to-consumer retailer.