Sleep Number Corporation [SNBR] Stock trading around $58.17 per share: What’s Next?

Sleep Number Corporation [NASDAQ: SNBR] slipped around -1.45 points on Wednesday, while shares priced at $58.17 at the close of the session, down -2.43%. The company report on October 15, 2020 that Sleep Number Announces Record Third Quarter 2020 Results.

Third quarter net sales grew 12% to a record $531 million, with demand growth of 16% .

Third quarter operating income grew 78% and diluted EPS grew 90% to a record $1.79.

Sleep Number Corporation stock is now 18.14% up from its year-to-date (YTD) trading value. SNBR Stock saw the intraday high of $61.40 and lowest of $56.75 per share. The company’s 52-week high price is 61.00, which means current price is +280.94% above from all time high which was touched on 10/14/20.

Compared to the average trading volume of 383.55K shares, SNBR reached a trading volume of 1183448 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Sleep Number Corporation [SNBR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SNBR shares is $45.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SNBR stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Sleep Number Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 10, 2020. The new note on the price target was released on March 25, 2020, representing the official price target for Sleep Number Corporation stock. Previously, the target price had yet another raise to $48, while Raymond James analysts kept a Outperform rating on SNBR stock. On April 18, 2019, analysts increased their price target for SNBR shares from 36 to 38.

The Average True Range (ATR) for Sleep Number Corporation is set at 2.68, with the Price to Sales ratio for SNBR stock in the period of the last 12 months amounting to 0.94. Price to Free Cash Flow for SNBR in the course of the last twelve months was 9.92 with Quick ratio for the last quarter at 0.10.

How has SNBR stock performed recently?

Sleep Number Corporation [SNBR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.71. With this latest performance, SNBR shares gained by 16.04% in over the last four-week period, additionally plugging by 162.26% over the last 6 months – not to mention a rise of 24.14% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SNBR stock in for the last two-week period is set at 69.29, with the RSI for the last a single of trading hit 72.54, and the three-weeks RSI is set at 66.44 for Sleep Number Corporation [SNBR]. The present Moving Average for the last 50 days of trading for this stock 48.69, while it was recorded at 56.99 for the last single week of trading, and 41.85 for the last 200 days.

Sleep Number Corporation [SNBR]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Sleep Number Corporation [SNBR] shares currently have an operating margin of +6.60 and a Gross Margin at +61.94. Sleep Number Corporation’s Net Margin is presently recorded at +4.82.

Return on Total Capital for SNBR is now 43.17, given the latest momentum, and Return on Invested Capital for the company is 562.33. Additionally, SNBR Total Debt to Total Capital is recorded at 137.14, with Total Debt to Total Assets ending up at 63.87.

Reflecting on the efficiency of the workforce at the company, Sleep Number Corporation [SNBR] managed to generate an average of $18,285 per employee. Receivables Turnover for the company is 49.70 with a Total Asset Turnover recorded at a value of 2.39.Sleep Number Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.30.

Earnings analysis for Sleep Number Corporation [SNBR]

With the latest financial reports released by the company, Sleep Number Corporation posted 0.82/share EPS, while the average EPS was predicted by analysts to be reported at 0.75/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SNBR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Sleep Number Corporation go to -4.00%.

Insider trade positions for Sleep Number Corporation [SNBR]

There are presently around $1,590 million, in the hands of institutional investors. The top three institutional holders of SNBR stocks are: BLACKROCK INC. with ownership of 4,074,007, which is approximately -0.646% of the company’s market cap and around 3.30% of the total institutional ownership; VANGUARD GROUP INC, holding 2,883,661 shares of the stock with an approximate value of $171.92 million in SNBR stocks shares; and DISCIPLINED GROWTH INVESTORS INC /MN, currently with $157.83 million in SNBR stock with ownership of nearly -23.245% of the company’s market capitalization.

Positions in Sleep Number Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 89 institutional holders increased their position in Sleep Number Corporation [NASDAQ:SNBR] by around 2,822,924 shares. Additionally, 110 investors decreased positions by around 4,202,142 shares, while 21 investors held positions by with 20,310,024 shares. The mentioned changes placed institutional holdings at 27,335,090 shares, according to the latest SEC report filing. SNBR stock had 41 new institutional investments in for a total of 1,319,761 shares, while 33 institutional investors sold positions of 935,274 shares during the same period.

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