Purple Innovation - PRPL Stock Forecast, Price & News

4 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Purple Innovation in the last year. There are currently 1 sell rating and 3 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" PRPL shares.
View PRPL analyst ratings or view top-rated stocks.

4 Wall Street research analysts have issued 1-year target prices for Purple Innovation's shares. Their PRPL share price forecasts range from $3.00 to $8.00. On average, they predict the company's share price to reach $6.00 in the next twelve months. This suggests a possible upside of 130.8% from the stock's current price.
View analysts price targets for PRPL or view top-rated stocks among Wall Street analysts.

Purple Innovation's stock was trading at $4.79 at the start of the year. Since then, PRPL shares have decreased by 45.7% and is now trading at $2.60.
View the best growth stocks for 2023 here.

Purple Innovation saw a drop in short interest in February. As of February 28th, there was short interest totaling 5,930,000 shares, a drop of 13.0% from the February 13th total of 6,820,000 shares. Based on an average trading volume of 716,200 shares, the days-to-cover ratio is presently 8.3 days.
View Purple Innovation's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 9th 2023.
View our PRPL earnings forecast.

Purple Innovation, Inc. (NASDAQ:PRPL) posted its quarterly earnings data on Thursday, March, 16th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by $0.04. The business earned $145.10 million during the quarter, compared to analysts' expectations of $143.48 million. Purple Innovation had a negative net margin of 15.58% and a negative trailing twelve-month return on equity of 13.66%. Purple Innovation's quarterly revenue was down 22.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.35) earnings per share.

Invesco Nasdaq Future Gen 200 ETF holds 4,911 shares of PRPL stock, representing 0.32% of its portfolio.

Purple Innovation updated its first quarter 2023 earnings guidance on Thursday, March, 16th. The company provided EPS guidance of for the period. The company issued revenue guidance of $105.00 million-$105.00 million, compared to the consensus revenue estimate of $137.13 million.

39 employees have rated Purple Innovation Chief Executive Officer Joe Megibow on Glassdoor.com. Joe Megibow has an approval rating of 77% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Purple Innovation investors own include Advanced Micro Devices (AMD), Pfizer (PFE), Raytheon Technologies (RTX), Tesla (TSLA), NVIDIA (NVDA), Procter & Gamble (PG), QUALCOMM (QCOM), Alibaba Group (BABA), Johnson & Johnson (JNJ) and AT&T (T).

Purple Innovation trades on the NASDAQ under the ticker symbol "PRPL."

Purple Innovation's stock is owned by a number of retail and institutional investors. Top institutional investors include Brandywine Global Investment Management LLC (3.03%), Bank of America Corp DE (1.96%), Schwartz Investment Counsel Inc. (1.81%), Geode Capital Management LLC (1.06%), Lapides Asset Management LLC (0.55%) and Manatuck Hill Partners LLC (0.54%). Insiders that own company stock include Casey Kale Mcgarvey, Coliseum Capital Management, L, Craig Lee Phillips, Gary T Dicamillo, Jack Roddy, John A Legg, Pano Anthos, Paul J Zepf, Tony Marion Pearce and Verdi Ray White III.
View institutional ownership trends.

Shares of PRPL stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

One share of PRPL stock can currently be purchased for approximately $2.60.

Purple Innovation (NASDAQ:PRPL) has a market capitalization of $238.76 million and generates $575.69 million in revenue each year. The company earns $4.03 million in net income (profit) each year or ($1.04) on an earnings per share basis.

The company employs 1,800 workers across the globe.

Purple Innovation's mailing address is 4100 N. CHAPEL RIDGE RD SUITE 200, LEHI UT, 84043. The official website for the company is www.purple.com. The company can be reached via phone at (801) 756-2600 or via email at ir@purple.com.