Casper Sleep (NYSE:CSPR) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Casper Sleep (NYSE:CSPR) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, Zacks.com reports. They currently have $7.75 price target on the stock.

According to Zacks, “Casper Sleep Inc. manufactures home furnishing products principally in the United States, Canada and Europe. It offers Casper mattresses, pillows, sheets and duvets, bedroom furniture and accessories, sleep technology, and related services through its e-commerce platform, 60 Casper retail stores and 18 retail partners. Casper Sleep Inc. is based in New York. “

A number of other brokerages have also recently issued reports on CSPR. Roth Capital started coverage on shares of Casper Sleep in a report on Thursday, September 3rd. They set a buy rating and a $14.00 price objective for the company. Citigroup boosted their price target on shares of Casper Sleep from $12.00 to $13.00 and gave the company a buy rating in a report on Thursday, August 13th. Finally, Morgan Stanley raised their price objective on Casper Sleep from $6.00 to $8.00 and gave the stock an equal weight rating in a research note on Wednesday, August 12th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $11.33.

NYSE:CSPR opened at $6.65 on Thursday. The stock’s fifty day simple moving average is $8.62 and its 200-day simple moving average is $7.39. The firm has a market capitalization of $267.01 million and a P/E ratio of -0.75. Casper Sleep has a 12-month low of $3.15 and a 12-month high of $15.85.

Casper Sleep (NYSE:CSPR) last issued its earnings results on Tuesday, August 11th. The company reported ($0.61) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.76) by $0.15. The company had revenue of $110.20 million for the quarter, compared to the consensus estimate of $104.76 million. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, sell-side analysts predict that Casper Sleep will post -2.31 earnings per share for the current year.

In other Casper Sleep news, insider Jeffery R. Chapin purchased 10,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was bought at an average cost of $8.62 per share, with a total value of $86,200.00. Following the purchase, the insider now directly owns 350,388 shares of the company’s stock, valued at $3,020,344.56. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Philip Krim acquired 15,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was acquired at an average price of $9.60 per share, for a total transaction of $144,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,537,176 shares of the company’s stock, valued at $14,756,889.60. The disclosure for this purchase can be found here.

A number of institutional investors have recently added to or reduced their stakes in CSPR. American International Group Inc. lifted its position in Casper Sleep by 29.2% during the 2nd quarter. American International Group Inc. now owns 5,156 shares of the company’s stock worth $46,000 after buying an additional 1,164 shares in the last quarter. Nuveen Asset Management LLC bought a new position in shares of Casper Sleep in the 1st quarter valued at about $47,000. Marathon Trading Investment Management LLC acquired a new stake in shares of Casper Sleep in the first quarter valued at about $47,000. JPMorgan Chase & Co. bought a new stake in Casper Sleep during the first quarter worth about $55,000. Finally, UBS Group AG acquired a new position in Casper Sleep during the first quarter valued at approximately $59,000. 30.93% of the stock is owned by institutional investors and hedge funds.

About Casper Sleep

Casper Sleep Inc provides sleep products to consumers in the United States, Canada, and Europe. It offers a range of Casper mattresses, pillows, sheets and duvets, bedroom furniture and accessories, sleep technology, and related services through its e-commerce platform, 60 Casper retail stores, and 18 retail partners.

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