Purple Innovation, Inc. (NASDAQ:PRPL – Get Rating) – Stock analysts at KeyCorp lowered their Q2 2022 earnings per share estimates for shares of Purple Innovation in a report issued on Sunday, July 10th. KeyCorp analyst B. Thomas now expects that the company will earn ($0.15) per share for the quarter, down from their previous forecast of ($0.14). KeyCorp currently has a “Overweight” rating and a $15.00 price target on the stock. The consensus estimate for Purple Innovation’s current full-year earnings is ($0.16) per share. KeyCorp also issued estimates for Purple Innovation’s Q3 2022 earnings at $0.00 EPS and FY2022 earnings at ($0.35) EPS.
Purple Innovation (NASDAQ:PRPL – Get Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.12. The company had revenue of $143.18 million for the quarter, compared to analyst estimates of $130.12 million. Purple Innovation had a negative net margin of 4.44% and a negative return on equity of 23.87%. The firm’s revenue was down 23.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 earnings per share.
Separately, Oppenheimer decreased their price target on Purple Innovation from $45.00 to $12.00 in a research note on Friday, May 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Purple Innovation presently has a consensus rating of “Hold” and an average target price of $9.67.
NASDAQ PRPL opened at $3.72 on Wednesday. The stock’s fifty day moving average is $4.15 and its two-hundred day moving average is $6.34. The firm has a market capitalization of $309.11 million, a P/E ratio of -5.55 and a beta of 1.89. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 1.89. Purple Innovation has a fifty-two week low of $2.94 and a fifty-two week high of $27.84.
In related news, insider Jack Roddy bought 6,000 shares of the business’s stock in a transaction dated Tuesday, May 17th. The shares were bought at an average cost of $4.85 per share, with a total value of $29,100.00. Following the completion of the transaction, the insider now directly owns 9,000 shares of the company’s stock, valued at $43,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Coliseum Capital Management, L acquired 987,859 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The shares were acquired at an average cost of $4.58 per share, with a total value of $4,524,394.22. Following the transaction, the director now directly owns 38,399,456 shares in the company, valued at approximately $175,869,508.48. The disclosure for this purchase can be found here. Insiders have bought a total of 4,493,600 shares of company stock valued at $20,897,109 over the last three months. Corporate insiders own 35.04% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its holdings in Purple Innovation by 52.0% during the 1st quarter. Bank of America Corp DE now owns 3,232,656 shares of the company’s stock worth $18,911,000 after purchasing an additional 1,105,782 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Purple Innovation by 157.4% in the first quarter. BNP Paribas Arbitrage SA now owns 196,537 shares of the company’s stock worth $1,150,000 after buying an additional 120,174 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Purple Innovation during the first quarter valued at approximately $52,000. Quantbot Technologies LP purchased a new stake in Purple Innovation during the first quarter valued at approximately $396,000. Finally, Shay Capital LLC increased its holdings in Purple Innovation by 19.7% during the first quarter. Shay Capital LLC now owns 16,202 shares of the company’s stock valued at $95,000 after buying an additional 2,662 shares during the last quarter.
Purple Innovation Company Profile (Get Rating)
Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, weighted 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.
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