Sleep Number

SNBR · NASDAQ

$0.02+$0.00 (+0.00%)TodayMarket closed · Oct 20, 3:54 PM ET

Prev close $0.02

SNBR analyst rating

HoldConsensus of 2 analysts over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold2
Underperform0
Sell0

12-month price target · 4 analysts

Average $2.55 (+12650.0% upside)

Low: $2.02
Now: $0.02
High: $3.15

Upgrades and downgrades

The latest rating actions, newest first

SNBR analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
UBS	May 13, 2026	Maintains	Neutral	$4.00 → $2.00	0%
UBS	Mar 13, 2026	Maintains	Neutral	$10.00 → $4.00	0%
Piper Sandler	Mar 13, 2026	Maintains	Neutral	$12.00 → $5.00	59%
Piper Sandler	Jan 16, 2026	Maintains	Neutral	$5.00 → $12.00	59%
UBS	Nov 6, 2025	Maintains	Neutral	$7.00 → $6.00	0%

The case for and against

Updated Oct 23, 2024

Bull case

Sleep Number Corp. has reported a 3.4% year-over-year increase in average revenue per unit, which reflects the effectiveness of their strategic shift towards a value-centric marketing approach and higher promotional activities. Despite a 17% decline in mattress unit sales to 77.5k, the company's gross margin improved by 190 basis points to 56.6%, demonstrating resilience in profitability amid a challenging retail environment. Furthermore, the company observed a positive month-over-month demand increase in October and anticipates favorable performance due to improved product availability and ongoing outperformance in the premium sleep segment.

Bear case

Sleep Number Corp. is experiencing significant headwinds, evidenced by a sharp 17% year-over-year decline in mattress industry search interest as of October, indicating waning consumer interest. The company's recent third-quarter results fell drastically short of expectations, which negatively impacted stock performance, demonstrating broader industry challenges where Sleep Number is losing market share in unit sales despite being positioned in a higher-priced segment. Additionally, geopolitical uncertainties, such as conflicts in Ukraine and the Middle East, threaten to further dampen consumer confidence and demand, reminiscent of previous demand declines noted during past conflicts.

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