Brokers Issue Forecasts for Purple Innovation, Inc.’s Q2 2024 Earnings (NASDAQ:PRPL)
Purple Innovation, Inc. (NASDAQ:PRPL – Free Report) – Analysts at Roth Capital reduced their Q2 2024 earnings estimates for Purple Innovation in a research note issued to investors on Thursday, March 7th. Roth Capital analyst M. Koranda now expects that the company will earn ($0.13) per share for the quarter, down from their prior estimate of ($0.12). The consensus estimate for Purple Innovation’s current full-year earnings is ($0.70) per share. Roth Capital also issued estimates for Purple Innovation’s FY2024 earnings at ($0.45) EPS and FY2025 earnings at ($0.15) EPS.
A number of other equities research analysts also recently commented on PRPL. Wedbush reaffirmed an “outperform” rating and issued a $1.25 price objective on shares of Purple Innovation in a research report on Wednesday, January 24th. Oppenheimer reissued a “market perform” rating on shares of Purple Innovation in a research report on Monday, November 13th. Roth Mkm lifted their price objective on Purple Innovation from $1.00 to $2.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, KeyCorp cut their price target on shares of Purple Innovation from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, January 24th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.67.
Get Our Latest Stock Analysis on Purple Innovation
Purple Innovation Trading Down 2.0 %
Shares of PRPL stock opened at $1.95 on Monday. The company has a quick ratio of 0.69, a current ratio of 1.39 and a debt-to-equity ratio of 0.17. Purple Innovation has a fifty-two week low of $0.55 and a fifty-two week high of $4.14. The stock has a market cap of $206.21 million, a P/E ratio of -1.14 and a beta of 1.98. The business has a fifty day simple moving average of $1.24 and a 200-day simple moving average of $1.30.
Institutional Investors Weigh In On Purple Innovation
Institutional investors have recently made changes to their positions in the company. Platform Technology Partners acquired a new position in Purple Innovation during the 4th quarter valued at about $31,000. Quadrant Capital Group LLC acquired a new stake in shares of Purple Innovation during the fourth quarter valued at approximately $32,000. Stifel Financial Corp lifted its position in shares of Purple Innovation by 50.0% in the 1st quarter. Stifel Financial Corp now owns 15,000 shares of the company’s stock valued at $40,000 after acquiring an additional 5,000 shares in the last quarter. UBS Group AG boosted its stake in Purple Innovation by 51.0% in the 3rd quarter. UBS Group AG now owns 10,096 shares of the company’s stock worth $41,000 after purchasing an additional 3,409 shares during the period. Finally, Saxon Interests Inc. acquired a new position in Purple Innovation in the 3rd quarter worth approximately $43,000. 92.78% of the stock is currently owned by institutional investors.
Purple Innovation Company Profile
Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, blankets, and duvets, as well as pet beds. It markets and sells its products through its e-commerce online channels, retail brick-and-mortar wholesale partners, and third-party online retailers, as well as through Purple retail showrooms.
See Also
Receive News & Ratings for Purple Innovation Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Purple Innovation and related companies with MarketBeat.com’s FREE daily email newsletter.
