February 4, 2023

Smart Bed Company Makes A Big Impression At CES 2022, New Product May Launch Stock From 52-Week Lows – Sleep Number Corporation – Common Stock (SNBR)

Wake up! CES 2022 is acting as the alarm clock for anyone sleeping on Sleep Number Corp’s (NASDAQ:SNBR) latest advancements in slumber technology. 

The company’s newly unveiled 360 smart bed enables continuous monitoring of an individual’s general wellness and sleep behaviors. The smart bed’s sensing capabilities aim to improve an individual’s sleep and health over time. 

Health And Wellness Tech: The 360 smart bed uses machine learning and artificial intelligence to identify and alert users about changes in their sleeping patterns. 

Sleep Number is known for offering insights into sleep quality, but the improved smart features seem to be focused on identifying illness or health risks.

“In the future, the 360 smart bed may detect illness and alert a sleeper to potential health conditions including insomnia, sleep apnea or cardiac events,” according to Sleep Number.

To better predict the future, one may consider reviewing the past. Sleep Number’s chief innovation officer Annie Bloomquist said the company has learned “from over 13 billion hours’ worth of proprietary sleep data.”

That data has helped the company roll out new smart bed features including “high-tech textiles, antimicrobial components and graphite infused foam,” which is designed to cool and move air through the sleep surface. 

The new and improved Sleep Number 360 smart bed will be available next year, starting around $1,099.

Smart Furniture: Sleep Number also unveiled surrounding “smart furniture” to “complement and enhance” the health and wellness features of its smart bed. 

Smart furniture features include mobility aids, which help individuals enter or exit the bed, and noise reduction technology designed to mask environmental noise.

Sleep Number also includes integrated charging capabilities and reading lights, as well as ambient lighting which is designed to support a sleeper’s circadian rhythm. 

The smart furniture is also set to become available in 2023, but pricing has not yet been announced. 

Why It Matters:  Sleep Number was awarded three CES 2022 Innovation Awards. The new Sleep Number 360 smart bed and its prior versions are six-time CES Innovation Award winners.

With the stock trading near its 52-week lows and well-below its 52-week highs, Sleep Number shares could offer upside potential from current levels.

History doesn’t always repeat itself, but it’s at least important to note that the stock was trading around $90 per share at the start of CES 2021. Six weeks later, it was trading around $150 per share. 

SNBR Price Action: Sleep Number has traded as low as $72.72 and as high as $151.43 over a 52-week period.

The stock closed up 1.22% on Tuesday at $78.85.

Related Link: Room Service: Nightfood Wants to Sweep Through the Hospitality Industry With Sleep-Friendly Midnight Snacks

Photo: courtesy of Sleep Number.

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