Piper Sandler has revised its price target for Sleep Number (SNBR, Financial), reducing it from $11 to $6 while maintaining a Neutral rating. The revision follows mixed results from the PSC Mattress Retailer survey, which indicated sales were roughly stable in March year-over-year, a notable improvement from February. However, when adjusting for the impacts of Leap Day and the Easter shift, sales for February and March appear to have declined in the mid-single-digit percentages year-over-year.
For the first quarter, Sleep Number reported an approximate 1% decline in sales compared to the previous quarter, marking a slight downturn from Q4. Despite these challenges, Piper Sandler surprisingly holds a positive outlook for the second quarter. The firm highlights that even with the anticipated negative impact of the Easter shift and waning consumer confidence in April, the outlook remains optimistic.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for Sleep Number Corp (SNBR, Financial) is $11.67 with a high estimate of $12.00 and a low estimate of $11.00. The average target implies an upside of 117.26% from the current price of $5.37. More detailed estimate data can be found on the Sleep Number Corp (SNBR) Forecast page.
Based on the consensus recommendation from 5 brokerage firms, Sleep Number Corp's (SNBR, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Sleep Number Corp (SNBR, Financial) in one year is $17.35, suggesting a upside of 223.09% from the current price of $5.37. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Sleep Number Corp (SNBR) Summary page.
