Shares of Purple Innovation, Inc. (NASDAQ:PRPL – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $3.95.
A number of analysts have recently commented on PRPL shares. Roth Capital upgraded Purple Innovation from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 13th. Roth Mkm restated a “buy” rating and issued a $2.50 price objective on shares of Purple Innovation in a research report on Thursday, March 21st. Wedbush restated an “outperform” rating and issued a $2.25 price objective on shares of Purple Innovation in a research report on Wednesday, May 8th. KeyCorp cut their price objective on Purple Innovation from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. Finally, Craig Hallum boosted their price objective on Purple Innovation from $1.00 to $2.00 and gave the company a “hold” rating in a research report on Wednesday, March 13th.
Read Our Latest Analysis on PRPL
Purple Innovation Stock Down 0.7 %
Shares of PRPL stock opened at $1.47 on Tuesday. The stock has a 50 day moving average of $1.62 and a 200 day moving average of $1.28. The company has a current ratio of 1.50, a quick ratio of 0.75 and a debt-to-equity ratio of 0.64. The stock has a market cap of $158.29 million, a P/E ratio of -1.10 and a beta of 1.96. Purple Innovation has a twelve month low of $0.55 and a twelve month high of $3.78.
Purple Innovation (NASDAQ:PRPL – Get Free Report) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.04. The company had revenue of $145.94 million during the quarter, compared to analysts’ expectations of $145.43 million. Purple Innovation had a negative return on equity of 62.31% and a negative net margin of 26.97%. As a group, sell-side analysts expect that Purple Innovation will post -0.38 EPS for the current year.
Institutional Trading of Purple Innovation
Several large investors have recently made changes to their positions in PRPL. SG Americas Securities LLC increased its position in shares of Purple Innovation by 113.2% during the third quarter. SG Americas Securities LLC now owns 37,942 shares of the company’s stock worth $65,000 after purchasing an additional 20,144 shares in the last quarter. Innovis Asset Management LLC increased its position in shares of Purple Innovation by 189.5% during the third quarter. Innovis Asset Management LLC now owns 336,525 shares of the company’s stock worth $575,000 after purchasing an additional 220,275 shares in the last quarter. FMR LLC increased its position in shares of Purple Innovation by 3.5% during the third quarter. FMR LLC now owns 11,702,309 shares of the company’s stock worth $20,011,000 after purchasing an additional 399,139 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Purple Innovation during the third quarter worth $568,000. Finally, AWH Capital L.P. boosted its stake in Purple Innovation by 16.5% during the third quarter. AWH Capital L.P. now owns 577,500 shares of the company’s stock worth $988,000 after buying an additional 82,000 shares during the last quarter. 88.41% of the stock is currently owned by hedge funds and other institutional investors.
Purple Innovation Company Profile
(Get Free Report
Purple Innovation, Inc designs and manufactures sleep and other products in the United States and internationally. The company offers mattresses, pillows, cushions, bases, sheets, platforms, adjustable bases, mattress protectors, foundations, blankets, duvets, duvet covers, seat cushions, and pet beds under the Purple brand.
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