Shares of Purple Innovation Inc (NASDAQ:PRPL) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus price objective of $6.50 for the company and are anticipating that the company will post ($0.14) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Purple Innovation an industry rank of 107 out of 255 based on the ratings given to related companies.

PRPL has been the subject of several analyst reports. Zacks Investment Research raised shares of Purple Innovation from a “sell” rating to a “hold” rating in a report on Thursday, January 3rd. Wedbush cut their price target on shares of Purple Innovation from $8.00 to $6.50 and set an “outperform” rating for the company in a report on Thursday, November 15th.

Several hedge funds and other institutional investors have recently bought and sold shares of PRPL. BlackRock Inc. bought a new stake in shares of Purple Innovation during the 2nd quarter worth $1,941,000. Northern Trust Corp bought a new stake in shares of Purple Innovation during the 2nd quarter worth $328,000. Cpwm LLC bought a new stake in shares of Purple Innovation during the 3rd quarter worth $116,000. LPL Financial LLC lifted its holdings in shares of Purple Innovation by 347.2% during the 3rd quarter. LPL Financial LLC now owns 56,800 shares of the company’s stock worth $329,000 after acquiring an additional 44,100 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Purple Innovation by 112.0% during the 3rd quarter. Vanguard Group Inc. now owns 41,721 shares of the company’s stock worth $242,000 after acquiring an additional 22,043 shares during the last quarter. 12.94% of the stock is owned by institutional investors.

Shares of NASDAQ:PRPL opened at $5.70 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.43 and a debt-to-equity ratio of 6.41. Purple Innovation has a one year low of $4.45 and a one year high of $13.90.

Purple Innovation (NASDAQ:PRPL) last announced its quarterly earnings results on Wednesday, November 14th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.07). The business had revenue of $70.81 million for the quarter, compared to analysts’ expectations of $86.20 million. Equities research analysts predict that Purple Innovation will post -1.54 EPS for the current fiscal year.

About Purple Innovation

Purple Innovation, Inc engages in the design and manufacture of products to improve how people sleep, sit, and stand. It offers mattresses, cushions, pillows, and other comfort products using its proprietary Hyper-Elastic Polymer technology. The company was founded by Terry V. Pearce and Tony M. Pearce in 2010 and is headquartered in Alpine, Utah.

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