Sleep Number Co. (NASDAQ:SNBR) to Post Q3 2024 Earnings of ($0.15) Per Share, Wedbush Forecasts

Sleep Number Co. (NASDAQ:SNBR) – Equities researchers at Wedbush issued their Q3 2024 earnings per share (EPS) estimates for Sleep Number in a research report issued on Thursday, August 1st. Wedbush analyst S. Basham expects that the company will post earnings per share of ($0.15) for the quarter. Wedbush has a “Neutral” rating and a $13.50 price objective on the stock. The consensus estimate for Sleep Number’s current full-year earnings is ($0.02) per share. Wedbush also issued estimates for Sleep Number’s Q4 2024 earnings at $0.21 EPS, FY2024 earnings at ($0.06) EPS, FY2025 earnings at $0.27 EPS and FY2026 earnings at $0.95 EPS.

A number of other analysts have also recently issued reports on SNBR. UBS Group raised their price objective on Sleep Number from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. StockNews.com raised Sleep Number from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Piper Sandler decreased their price objective on shares of Sleep Number from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, August 1st.

Sleep Number Stock Performance

Shares of NASDAQ:SNBR opened at $12.21 on Monday. The company has a 50-day simple moving average of $11.42 and a 200 day simple moving average of $12.84. The company has a market capitalization of $272.54 million, a P/E ratio of -8.03 and a beta of 2.05. Sleep Number has a 52-week low of $8.13 and a 52-week high of $31.23.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.22. The firm had revenue of $408.40 million for the quarter, compared to the consensus estimate of $415.05 million. During the same period last year, the company posted $0.03 earnings per share. The business’s revenue was down 11.0% compared to the same quarter last year.

Institutional Trading of Sleep Number

Several institutional investors have recently added to or reduced their stakes in SNBR. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of 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 purchasing an additional 1,114 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC raised its holdings in Sleep Number by 105.5% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 117,397 shares of the company’s stock valued at $1,741,000 after acquiring an additional 60,280 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Sleep Number by 85.2% in the 4th quarter. Russell Investments Group Ltd. now owns 46,154 shares of the company’s stock valued at $684,000 after acquiring an additional 21,233 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Sleep Number by 29.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 802,190 shares of the company’s stock valued at $11,896,000 after acquiring an additional 184,038 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in shares of Sleep Number by 22.5% during the 4th quarter. BNP Paribas Financial Markets now owns 34,756 shares of the company’s stock worth $515,000 after purchasing an additional 6,390 shares in the last quarter. 85.67% of the stock is currently owned by institutional investors.

About Sleep Number

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.