Published on 9 Nov 2023 on Simply Wall St. via Yahoo Finance

These Analysts Just Made A Huge Downgrade To Their Sleep Number Corporation (NASDAQ:SNBR) EPS...

One thing we could say about the analysts on Sleep Number Corporation (NASDAQ:SNBR) - they aren't optimistic, having just made a major negative revision to their near-term (statutory) forecasts for the organization. Both revenue and earnings per share (EPS) forecasts went under the knife, suggesting analysts have soured majorly on the business.

Following the latest downgrade, the current consensus, from the five analysts covering Sleep Number, is for revenues of US$1.8b in 2024, which would reflect a small 7.7% reduction in Sleep Number's sales over the past 12 months. Per-share earnings are expected to jump 221% to US$0.65. Prior to this update, the analysts had been forecasting revenues of US$2.1b and earnings per share (EPS) of US$1.92 in 2024. Indeed, we can see that the analysts are a lot more bearish about Sleep Number's prospects, administering a substantial drop in revenue estimates and slashing their EPS estimates to boot.

Check out our latest analysis for Sleep Number