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Purple Innovation (NASDAQ:PRPL) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Purple Innovation logo with Consumer Staples background

Key Points

  • Purple Innovation (NASDAQ:PRPL) reported a quarterly earnings per share of ($0.11), beating estimates by $0.01.
  • The company's stock dropped 15.0% to $0.85 amid trading, with a market capitalization of $91.55 million.
  • Wall Street Zen downgraded Purple Innovation's shares from a "hold" to a "sell" rating.
  • MarketBeat previews top five stocks to own in August.
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Purple Innovation (NASDAQ:PRPL - Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01, Zacks reports. Purple Innovation had a negative net margin of 14.16% and a negative return on equity of 145.52%. Purple Innovation updated its FY 2025 guidance to EPS.

Purple Innovation Stock Down 15.0%

Purple Innovation stock traded down $0.15 during mid-day trading on Tuesday, reaching $0.85. The stock had a trading volume of 1,075,959 shares, compared to its average volume of 780,026. The company has a market capitalization of $91.55 million, a price-to-earnings ratio of -1.37 and a beta of 1.51. The company has a 50-day moving average price of $0.77 and a two-hundred day moving average price of $0.82. Purple Innovation has a one year low of $0.56 and a one year high of $1.43. The company has a debt-to-equity ratio of 54.69, a current ratio of 1.36 and a quick ratio of 0.64.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Purple Innovation from a "hold" rating to a "sell" rating in a report on Friday, July 18th.

Check Out Our Latest Stock Analysis on Purple Innovation

Hedge Funds Weigh In On Purple Innovation

An institutional investor recently raised its position in Purple Innovation stock. Bank of America Corp DE boosted its holdings in Purple Innovation, Inc. (NASDAQ:PRPL - Free Report) by 45.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,984 shares of the company's stock after buying an additional 17,406 shares during the quarter. Bank of America Corp DE owned 0.05% of Purple Innovation worth $44,000 at the end of the most recent quarter. 88.41% of the stock is owned by hedge funds and other institutional investors.

Purple Innovation Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for Purple Innovation (NASDAQ:PRPL)

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