KeyCorp Predicts Weaker Earnings for Purple Innovation

Key Points

• KeyCorp cut its Q2 2026 EPS estimate for Purple Innovation to ($0.11) from ($0.08) and projects Q3 2026 EPS of ($0.07), FY2026 EPS of ($0.33) and FY2027 EPS of ($0.33), maintaining a "Sector Weight" rating.
• Other brokers are mixed: UBS trimmed its price target to $0.65 and set a "neutral" rating, Wall Street Zen put a "hold" on the stock, Weiss Ratings reaffirmed a "sell", and MarketBeat's consensus rating is "Reduce" with an average PT of $0.65.
• Purple is trading around $0.50 with a market cap of about $53.9M; it reported Q latest EPS of ($0.13) (matching consensus) on revenue of $95.73M versus an expected $100.92M, and institutional ownership is roughly 88.41%.

Purple Innovation, Inc. (NASDAQ:PRPL - Free Report) - KeyCorp reduced their Q2 2026 earnings per share (EPS) estimates for shares of Purple Innovation in a research note issued on Tuesday, April 28th. KeyCorp analyst B. Thomas now anticipates that the company will post earnings of ($0.11) per share for the quarter, down from their previous estimate of ($0.08). KeyCorp has a "Sector Weight" rating on the stock. The consensus estimate for Purple Innovation's current full-year earnings is ($0.20) per share. KeyCorp also issued estimates for Purple Innovation's Q3 2026 earnings at ($0.07) EPS, FY2026 earnings at ($0.33) EPS and FY2027 earnings at ($0.33) EPS.

Several other brokerages have also recently weighed in on PRPL. Wall Street Zen raised Purple Innovation to a "hold" rating in a report on Saturday, April 11th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Purple Innovation in a research note on Tuesday, April 21st. Finally, UBS Group lowered their price target on Purple Innovation from $0.85 to $0.65 and set a "neutral" rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $0.65.

Purple Innovation Trading Up 1.0%

Shares of NASDAQ:PRPL opened at $0.50 on Friday. The stock has a market capitalization of $53.86 million, a P/E ratio of -0.85 and a beta of 1.83. Purple Innovation has a 1-year low of $0.48 and a 1-year high of $1.26. The business has a 50-day moving average price of $0.65 and a two-hundred day moving average price of $0.72.

Purple Innovation (NASDAQ:PRPL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.13) earnings per share for the quarter, hitting the consensus estimate of ($0.13). The firm had revenue of $95.73 million for the quarter, compared to the consensus estimate of $100.92 million.

Hedge Funds Weigh In On Purple Innovation

Several institutional investors and hedge funds have recently modified their holdings of PRPL. Jacobs Levy Equity Management Inc. acquired a new position in shares of Purple Innovation in the 3rd quarter valued at approximately $757,000. Wasatch Advisors LP grew its position in shares of Purple Innovation by 16.1% in the 2nd quarter. Wasatch Advisors LP now owns 4,627,934 shares of the company's stock valued at $3,375,000 after purchasing an additional 641,697 shares during the period. Jane Street Group LLC acquired a new position in shares of Purple Innovation in the 2nd quarter valued at approximately $253,000. Marshall Wace LLP acquired a new position in shares of Purple Innovation in the 2nd quarter valued at approximately $128,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Purple Innovation in the 3rd quarter valued at approximately $135,000. 88.41% of the stock is currently owned by institutional investors and hedge funds.

About Purple Innovation

Purple Innovation, Inc is a consumer products company specializing in the design, development and manufacture of comfort technology for the sleep and home furnishings markets. Best known for its proprietary Hyper-Elastic Polymer “Grid” technology, the company engineers mattresses, pillows and cushions that aim to combine pressure relief, support and temperature neutrality. Purple offers an array of sleep products alongside related lifestyle and wellness solutions.

The company's product portfolio includes mattress models in various sizes and thicknesses, adjustable bed frames, pillows, sheets and mattress protectors, as well as seat cushions and pet beds.

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