Sleep Number (NASDAQ:SNBR) Posts Earnings Results, Beats Expectations By $0.44 EPS

Sleep Number (NASDAQ:SNBR) posted its quarterly earnings data on Wednesday. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.44, reports. The business had revenue of $470.45 million during 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%.

Sleep Number Price Performance

NASDAQ SNBR opened at $14.18 on Friday. The stock’s fifty day moving average is $14.40 and its two-hundred day moving average is $13.89. Sleep Number has a fifty-two week low of $9.00 and a fifty-two week high of $39.98.

Hedge Funds Weigh In On Sleep Number

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wedbush restated a “neutral” rating and issued a $13.50 price objective on shares of Sleep Number in a research report on Thursday. UBS Group lifted 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. Finally, Piper Sandler lifted 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 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.