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Bull of the Day: Sleep Number (SNBR)

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What comes to mind when you think about the hottest stocks out there? Usually something in tech, biotech, or some other high-growth industry. Sometimes, by looking for stocks with products that think outside the box, we can miss the hot stocks which are perfectly inside the box. These stocks are often found in your more traditional, dare I say “boring” industries.

Today’s Bull of the Day is a stock within one of these more boring industries. In fact, the company is in the Furniture industry which ranks in the Top 46% of our Zacks Industry Rank. I’m talking about Sleep Number (SNBR - Free Report) . Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. The company designs, manufactures, markets, retails, and services beds, pillows, sheets, and other bedding product under the Sleep Number name. The company sells its products directly to consumers through retail, online, and phone, as well as through wholesale. As of February 19, 2020, it operated approximately 610 stores in 50 states. 

Currently, the stock is a Zacks Rank #1 (Strong Buy). In addition to the favorable Zacks Rank, the stock features a Zacks Value Style Score of B, Growth of A, Momentum of D, to help it round out with a VGM Composite Score of A. The reason for the favorable rank is five analysts have increased their earnings estimates for the current year and next year. That bullish sentiment has pushed up our Zacks Consensus Estimate for the current year from $2.73 to $4.06 while next year’s number is up from $3.26 to $4.17.

The company has beat earnings for eight consecutive quarters. The last four quarters, the company has beat by an average of 55.89%. Last quarter’s 77.23% beat impressed investors, helping the stock rally sharply after the print.

Zacks’ Single Best Pick to Double

From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.

With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.

The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.

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