Purple Innovation, Inc. (NASDAQ:PRPL) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Purple Innovation, Inc. (NASDAQ:PRPLGet Free Report) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $3.95.

PRPL has been the subject of several analyst reports. Roth Capital upgraded shares of Purple Innovation from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 13th. Wedbush reiterated an “outperform” rating and set a $2.25 price target on shares of Purple Innovation in a research report on Wednesday, May 8th. Craig Hallum lifted their price target on shares of Purple Innovation from $1.00 to $2.00 and gave the stock a “hold” rating in a research report on Wednesday, March 13th. Finally, Roth Mkm reiterated a “buy” rating and set a $2.50 price target on shares of Purple Innovation in a research report on Thursday, March 21st.

Get Our Latest Stock Report on Purple Innovation

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its stake in Purple Innovation by 3.5% in the third quarter. FMR LLC now owns 11,702,309 shares of the company’s stock valued at $20,011,000 after buying an additional 399,139 shares in the last quarter. Vanguard Group Inc. lifted its stake in Purple Innovation by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,903,799 shares of the company’s stock valued at $5,053,000 after buying an additional 20,189 shares in the last quarter. Wasatch Advisors LP lifted its stake in Purple Innovation by 2.0% in the first quarter. Wasatch Advisors LP now owns 2,251,234 shares of the company’s stock valued at $3,917,000 after buying an additional 44,414 shares in the last quarter. Sierra Summit Advisors LLC bought a new position in Purple Innovation in the fourth quarter valued at approximately $1,000,000. Finally, Dynamic Advisor Solutions LLC lifted its stake in Purple Innovation by 9.7% in the first quarter. Dynamic Advisor Solutions LLC now owns 751,778 shares of the company’s stock valued at $1,308,000 after buying an additional 66,256 shares in the last quarter. Institutional investors own 88.41% of the company’s stock.

Purple Innovation Trading Down 2.5 %

PRPL opened at $0.87 on Friday. 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 capitalization of $93.42 million, a PE ratio of -0.65 and a beta of 2.03. Purple Innovation has a 1-year low of $0.55 and a 1-year high of $3.33. The firm has a 50-day moving average price of $1.35 and a two-hundred day moving average price of $1.34.

Purple Innovation (NASDAQ:PRPLGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.04). Purple Innovation had a negative net margin of 26.97% and a negative return on equity of 62.31%. The company had revenue of $120.03 million during the quarter, compared to analyst estimates of $122.15 million. As a group, equities analysts anticipate that Purple Innovation will post -0.38 earnings per share for the current fiscal year.

Purple Innovation Company Profile

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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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Analyst Recommendations for Purple Innovation (NASDAQ:PRPL)

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