Piper Sandler slashes price target on Sleep Number Corporation [SNBR] – find out why.

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Sleep Number Corporation [NASDAQ: SNBR] traded at a low on 04/21/22, posting a -11.58 loss after which it closed the day’ session at $45.51. The company report on April 20, 2022 that Sleep Number Announces First Quarter 2022 Results.

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Net sales declined 7% versus the prior year on constrained supply of semiconductor chips.

Demand for the quarter declined 3% on acute macro factors in January and March; backlog increased 20% since December.

The results of the trading session contributed to over 2509084 shares changing hands. Over the past one week, the price volatility of Sleep Number Corporation stands at 6.17% while the volatility over the past one month is 5.68%.

The market cap for SNBR stock reached $1.04 billion, with 22.94 million shares outstanding and 21.18 million shares in the current float. Compared to the average trading volume of 601.85K shares, SNBR reached a trading volume of 2509084 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 $59.00 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 3.00. 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 Neutral, with their previous recommendation back on April 21, 2022. While these analysts kept the previous recommendation, Wedbush dropped their target price from $80 to $54. The new note on the price target was released on March 28, 2022, representing the official price target for Sleep Number Corporation stock. Previously, the target price had yet another raise from $85 to $88, while Wedbush kept a Outperform rating on SNBR stock. On February 18, 2021, analysts increased their price target for SNBR shares from 65 to 135.

The Average True Range (ATR) for Sleep Number Corporation is set at 3.22, with the Price to Sales ratio for SNBR stock in the period of the last 12 months amounting to 0.47. Price to Free Cash Flow for SNBR in the course of the last twelve months was 4.45 with Quick ratio for the last quarter at 0.10.

How has SNBR stock performed recently?

Sleep Number Corporation [SNBR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.76. With this latest performance, SNBR shares dropped by -28.60% in over the last four-week period, additionally sinking by -49.27% over the last 6 months – not to mention a drop of -58.68% 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 30.13, with the RSI for the last a single of trading hit 27.84, and the three-weeks RSI is set at 32.09 for Sleep Number Corporation [SNBR]. The present Moving Average for the last 50 days of trading for this stock 59.80, while it was recorded at 49.62 for the last single week of trading, and 80.95 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 +8.86 and a Gross Margin at +60.36. Sleep Number Corporation’s Net Margin is presently recorded at +7.04.

Sleep Number Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.20.

Earnings analysis for Sleep Number Corporation [SNBR]

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 6.80%.

Insider trade positions for Sleep Number Corporation [SNBR]

There are presently around $1,199 million, in the hands of institutional investors. The top three institutional holders of SNBR stocks are: BLACKROCK INC. with ownership of 3,514,451, which is approximately -2.261% of the company’s market cap and around 2.20% of the total institutional ownership; VANGUARD GROUP INC, holding 2,586,033 shares of the stock with an approximate value of $133.1 million in SNBR stocks shares; and DISCIPLINED GROWTH INVESTORS INC /MN, currently with $106.72 million in SNBR stock with ownership of nearly -0.254% of the company’s market capitalization.

Positions in Sleep Number Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 98 institutional holders increased their position in Sleep Number Corporation [NASDAQ:SNBR] by around 2,181,742 shares. Additionally, 133 investors decreased positions by around 1,810,477 shares, while 32 investors held positions by with 19,293,587 shares. The mentioned changes placed institutional holdings at 23,285,806 shares, according to the latest SEC report filing. SNBR stock had 34 new institutional investments in for a total of 666,151 shares, while 38 institutional investors sold positions of 368,105 shares during the same period.