why Sleep Number Corp [SNBR] is a Good Choice for Investors After New Price Target of $12.00

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Sleep Number Corp [NASDAQ: SNBR] slipped around -4.66 points on Wednesday, while shares priced at $11.37 at the close of the session, down -29.07%. The company report on November 7, 2023 at 4:03 PM that Sleep Number Announces Third Quarter 2023 Results.

Third quarter net sales declined 13% versus the prior year to $473 million; third quarter diluted loss per share of $0.10.

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Initiated approximately $50 million of additional operating expense reduction actions for 2024 on top of an estimated $80 million for 2023.

Sleep Number Corp stock is now -56.24% down from its year-to-date (YTD) trading value. SNBR Stock saw the intraday high of $12.875 and lowest of $10.2501 per share. The company’s 52-week high price is 41.61, which means current price is +10.93% above from all time high which was touched on 02/02/23.

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Compared to the average trading volume of 515.39K shares, SNBR reached a trading volume of 3750602 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 Corp [SNBR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SNBR shares is $12.00 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 Corp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 21, 2022.

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The Average True Range (ATR) for Sleep Number Corp is set at 1.68, with the Price to Sales ratio for SNBR stock in the period of the last 12 months amounting to 0.12.

How has SNBR stock performed recently?

Sleep Number Corp [SNBR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -26.55. With this latest performance, SNBR shares dropped by -39.23% in over the last four-week period, additionally sinking by -46.11% over the last 6 months – not to mention a drop of -56.90% 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 22.88, with the RSI for the last a single of trading hit 18.11, and the three-weeks RSI is set at 26.75 for Sleep Number Corp [SNBR]. The present Moving Average for the last 50 days of trading for this stock 21.54, while it was recorded at 15.18 for the last single week of trading, and 26.30 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Sleep Number Corp [SNBR] shares currently have an operating margin of +3.21 and a Gross Margin at +56.87. Sleep Number Corp’s Net Margin is presently recorded at +1.73.

Additionally, SNBR Total Debt to Total Capital is recorded at 195.71, with Total Debt to Total Assets ending up at 81.53.

Reflecting on the efficiency of the workforce at the company, Sleep Number Corp [SNBR] managed to generate an average of $7,157 per employee. Receivables Turnover for the company is 39.19 with a Total Asset Turnover recorded at a value of 1.96.Sleep Number Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.09 and a Current Ratio set at 0.23.

Earnings analysis for Sleep Number Corp [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 Corp go to 6.80%.

Insider trade positions for Sleep Number Corp [SNBR]

The top three institutional holders of SNBR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in SNBR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in SNBR stock with ownership which is approximately 5.7994%.

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