NASDAQ:PRPL

Purple Innovation (PRPL) Stock Forecast, Price & News

$1.71

+0.06 (+3.64%)

(As of 09/29/2023 ET)

Compare

Today's Range: $1.66
▼
$1.77
50-Day Range: $1.51
▼
$3.30
52-Week Range: $1.51
▼
$6.76

Volume: 876,643 shs
Average Volume: 874,917 shs
Market Capitalization: $180.83 million

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $5.13

Purple Innovation MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.50 Rating Score
Upside/Downside: 199.7% Upside
$5.13 Price Target
Short Interest: Bearish
6.10% of Shares Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 1.23
Based on 4 Articles This Week
Insider Trading: Acquiring Shares
$22,200 Bought Last Quarter
Proj. Earnings Growth: Growing
From ($0.33) to ($0.11) Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.35 out of 5 stars

Consumer Staples Sector

55th out of 134 stocks

Household Furniture Industry

6th out of 9 stocks

3.3

Analyst's Opinion

Consensus Rating
Purple Innovation has received a consensus rating of Moderate Buy. The company's average rating score is 2.50, and is based on 4 buy ratings, 1 hold rating, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $5.13, Purple Innovation has a forecasted upside of 199.7% from its current price of $1.71.
Amount of Analyst Coverage
Purple Innovation has only been the subject of 2 research reports in the past 90 days.

1.0

Short Interest

Percentage of Shares Shorted
6.10% of the outstanding shares of Purple Innovation have been sold short.
Short Interest Ratio / Days to Cover
Purple Innovation has a short interest ratio ("days to cover") of 7.8.
Change versus previous month
Short interest in Purple Innovation has recently increased by 2.38%, indicating that investor sentiment is decreasing.

0.0

Dividend Strength

Dividend Yield
Purple Innovation does not currently pay a dividend.
Dividend Growth
Purple Innovation does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for PRPL.

2.9

News and Social Media Coverage

News Sentiment
Purple Innovation has a news sentiment score of 1.23. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.65 average news sentiment score of Consumer Staples companies.
News Coverage This Week
MarketBeat has tracked 4 news articles for Purple Innovation this week, compared to 2 articles on an average week.
Search Interest
Only 3 people have searched for PRPL on MarketBeat in the last 30 days. This is a decrease of -40% compared to the previous 30 days.
MarketBeat Follows
Only 1 people have added Purple Innovation to their MarketBeat watchlist in the last 30 days. This is a decrease of -50% compared to the previous 30 days.

5.0

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Purple Innovation insiders have bought more of their company's stock than they have sold. Specifically, they have bought $22,200.00 in company stock and sold $0.00 in company stock.
Percentage Held by Insiders
48.30% of the stock of Purple Innovation is held by insiders. A high percentage of insider ownership can be a sign of company health.
Percentage Held by Institutions
92.78% of the stock of Purple Innovation is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.3

Earnings and Valuation

Earnings Growth
Earnings for Purple Innovation are expected to grow in the coming year, from ($0.33) to ($0.11) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Purple Innovation is -1.28, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Purple Innovation is -1.28, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Purple Innovation has a P/B Ratio of 0.88. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Purple Innovation (NASDAQ:PRPL) Stock

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. The company was founded in 2010 and is headquartered in Lehi, Utah.

PRPL Price History

30 days | 90 days | 365 days | Advanced Chart

PRPL Stock News Headlines

September 27, 2023 | finance.yahoo.com

PURPLE APPOINTS TRICIA MCDERMOTT AS CHIEF LEGAL OFFICER

September 27, 2023 | yahoo.com

Purple Brand’s Fall 2023 Line Releases With Stylish Flair

October 1, 2023 | Behind the Markets (Ad)

BREAKING: Tiny biotech successfully treats blindness

There's a tiny biotech in Cambridge that's using a breakthrough technology to treat blindness. This company has already shown success in human trials... And Our research shows that anyone who gets in today could see a 46,751% return.

September 21, 2023 | finance.yahoo.com

PURPLE APPOINTS TODD VOGENSEN AS CHIEF FINANCIAL OFFICER

September 13, 2023 | finance.yahoo.com

7 Stocks to Buy Based on Unusual Options Activity

September 2, 2023 | markets.businessinsider.com

Analysts Offer Insights on NA Companies: Smith & Wesson Brands (SWBI) and Purple Innovation (PRPL)

August 25, 2023 | msn.com

Oppenheimer Reiterates Purple Innovation Inc - (PRPL) Outperform Recommendation

August 11, 2023 | msn.com

Wedbush Maintains Purple Innovation Inc - (PRPL) Outperform Recommendation

October 1, 2023 | Behind the Markets (Ad)

BREAKING: Tiny biotech successfully treats blindness

August 11, 2023 | msn.com

Purple Innovation: Far From A Purple Patch

August 11, 2023 | finance.yahoo.com

Why Purple Innovation Stock Was Sinking Today

August 10, 2023 | finance.yahoo.com

Q2 2023 Purple Innovation Inc Earnings Call

August 10, 2023 | finanznachrichten.de

Purple Innovation, Inc.: Purple Innovation Reports Second Quarter 2023 Results

August 8, 2023 | markets.businessinsider.com

What Wall Street expects from Purple Innovation's earnings

August 4, 2023 | finance.yahoo.com

Factors Likely to Drive Purple Innovation's (PRPL) Q2 Earnings

August 3, 2023 | finance.yahoo.com

Purple to Report Second Quarter 2023 Results on August 9, 2023

July 21, 2023 | finance.yahoo.com

PRPL - Purple Innovation, Inc.

June 16, 2023 | markets.businessinsider.com

Craig-Hallum Keeps Their Buy Rating on Purple Innovation (PRPL)

June 15, 2023 | finance.yahoo.com

Purple Launches Two New Mobile-Controlled Adjustable Smart Bases

June 12, 2023 | finance.yahoo.com

Purple to Participate in Oppenheimer 23rd Annual Consumer Growth & E-Commerce Conference

May 31, 2023 | benzinga.com

Massive Insider Trade At Purple Innovation

May 24, 2023 | fool.com

Purple Innovation (NASDAQ: PRPL)

May 15, 2023 | finance.yahoo.com

PURPLE LAUNCHES INNOVATIVE PREMIUM AND LUXE COLLECTIONS FEATURING NINE NEW MATTRESSES

May 12, 2023 | msn.com

Recap: Purple Innovation Q1 Earnings

May 12, 2023 | msn.com

Purple Bounces High as Losses Narrow in Q1

May 11, 2023 | finanznachrichten.de

Purple, Inc.: Purple Innovation Reports First Quarter 2023 Results

May 11, 2023 | finance.yahoo.com

Q1 2023 Purple Innovation Inc Earnings Call

See More Headlines

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PRPL Company Calendar

Last Earnings: 8/09/2023
Today: 10/01/2023
Next Earnings (Estimated): 11/08/2023
Fiscal Year End: 12/31/2023

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Household furniture
Sub-Industry: N/A
Sector: Consumer Staples
Current Symbol: NASDAQ:PRPL
CUSIP: N/A
CIK: 1643953
Web: www.purple.com
Phone: (801) 756-2600
Fax: N/A
Employees: 1,600
Year Founded: N/A

Price Target and Rating

Average Stock Price Forecast: $5.13
High Stock Price Forecast: $8.00
Low Stock Price Forecast: $2.75
Forecasted Upside/Downside: +199.7%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.50
Research Coverage: 6 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($1.34)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $-89,690,000.00
Net Margins: -24.81%
Pretax Margin: 17.36%
Return on Equity: -19.21%
Return on Assets: -8.04%

Debt

Debt-to-Equity Ratio: N/A
Current Ratio: 1.50
Quick Ratio: 0.65

Sales & Book Value

Annual Sales: $575.69 million
Price / Sales: 0.31
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $1.95 per share
Price / Book: 0.88

Miscellaneous

Outstanding Shares: 105,750,000
Free Float: 54,673,000
Market Cap: $180.83 million
Optionable: Not Optionable
Beta: 1.59

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Key Executives

Mr. Robert T. DeMartini (Age 61)
CEO & Director
Comp: $662.37k

Mr. Bennett L. Nussbaum (Age 76)
Interim CFO & Treasurer
Comp: $1M

Mr. Eric Haynor
Chief Operating Officer

Mr. Casey K. McGarvey (Age 63)
Chief Legal Officer & Sec.
Comp: $405.18k

Mr. John Jack Roddy IV (Age 55)
Chief People Officer
Comp: $548.08k

Mr. George Turner Ulrich (Age 62)
VP of Accounting & Financial Reporting

Misty Bond
Director of Communications

Ms. Keira Krausz (Age 57)
Chief Marketing Officer

Mr. Jeff Hutchings
Chief Innovation Officer

Mr. Jeffery Scott Kerby (Age 54)
Chief of Owned Retail Officer

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

PRPL Stock - Frequently Asked Questions

Should I buy or sell Purple Innovation stock right now?: 6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Purple Innovation in the last year. There are currently 1 sell rating, 1 hold rating and 4 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" PRPL shares.
View PRPL analyst ratings or view top-rated stocks.
What is Purple Innovation's stock price forecast for 2023?: 6 Wall Street analysts have issued 12-month target prices for Purple Innovation's shares. Their PRPL share price forecasts range from $2.75 to $8.00. On average, they expect the company's share price to reach $5.13 in the next year. This suggests a possible upside of 199.7% from the stock's current price.
View analysts price targets for PRPL or view top-rated stocks among Wall Street analysts.
How have PRPL shares performed in 2023?: Purple Innovation's stock was trading at $4.79 at the start of the year. Since then, PRPL shares have decreased by 64.3% and is now trading at $1.71.
View the best growth stocks for 2023 here.
When is Purple Innovation's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 8th 2023.
View our PRPL earnings forecast.
How were Purple Innovation's earnings last quarter?: Purple Innovation, Inc. (NASDAQ:PRPL) issued its earnings results on Wednesday, August, 9th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.12) by $0.08. The company had revenue of $120.90 million for the quarter, compared to analyst estimates of $130.36 million. Purple Innovation had a negative net margin of 24.81% and a negative trailing twelve-month return on equity of 19.21%. The business's quarterly revenue was down 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.11) earnings per share.
What guidance has Purple Innovation issued on next quarter's earnings?: Purple Innovation updated its FY 2023 earnings guidance on Thursday, August, 10th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $560.00 million-$590.00 million, compared to the consensus revenue estimate of $588.37 million.

What is Joe Megibow's approval rating as Purple Innovation's CEO?: 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.
What other stocks do shareholders of Purple Innovation own?: Based on aggregate information from My MarketBeat watchlists, some companies that other Purple Innovation investors own include Advanced Micro Devices (AMD), Pfizer (PFE), RTX (RTX), Tesla (TSLA), NVIDIA (NVDA), Procter & Gamble (PG), QUALCOMM (QCOM), Alibaba Group (BABA), Johnson & Johnson (JNJ) and AT&T (T).
What is Purple Innovation's stock symbol?: Purple Innovation trades on the NASDAQ under the ticker symbol "PRPL."
How do I buy shares of Purple Innovation?: 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.
What is Purple Innovation's stock price today?: One share of PRPL stock can currently be purchased for approximately $1.71.
How much money does Purple Innovation make?: Purple Innovation (NASDAQ:PRPL) has a market capitalization of $180.83 million and generates $575.69 million in revenue each year. The company earns $-89,690,000.00 in net income (profit) each year or ($1.34) on an earnings per share basis.
How many employees does Purple Innovation have?: The company employs 1,600 workers across the globe.
How can I contact Purple Innovation?: 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.

This page (NASDAQ:PRPL) was last updated on 10/1/2023 by MarketBeat.com Staff

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