Q2 2024 Earnings Forecast for Sleep Number Co. Issued By Wedbush (NASDAQ:SNBR)

Sleep Number Co. (NASDAQ:SNBR) – Analysts at Wedbush dropped their Q2 2024 EPS estimates for Sleep Number in a report released on Thursday, April 25th. Wedbush analyst S. Basham now forecasts that the company will post earnings of ($0.19) per share for the quarter, down from their previous estimate of ($0.18). Wedbush has a “Neutral” rating and a $13.50 price target 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.

Other equities analysts have also issued research reports about the stock. Piper Sandler increased their price target on shares of Sleep Number from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. UBS Group increased their target price on shares of Sleep Number from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th.

Sleep Number Price Performance

Shares of Sleep Number stock opened at $13.63 on Monday. The firm has a market cap of $304.30 million, a PE ratio of -8.97 and a beta of 1.96. Sleep Number has a 1 year low of $9.00 and a 1 year high of $39.98. The stock has a fifty day moving average price of $14.44 and a 200-day moving average price of $13.79.

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

Institutional Investors Weigh In On Sleep Number

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNBR. Quest Partners LLC purchased a new stake in shares of Sleep Number during the 4th quarter valued at approximately $62,000. GAMMA Investing LLC boosted its holdings in shares of Sleep Number by 250.6% in the first quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock worth $68,000 after acquiring an additional 3,027 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Sleep Number by 27.1% in 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 in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Sleep Number by 345.5% during the 3rd 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 bought a new stake in shares of Sleep Number during the 4th quarter valued at $221,000. 85.67% of the stock is currently owned by institutional investors.

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.