Purple Innovation (PRPL) Stock Forecast, Price & News

5 Wall Street research 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 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" PRPL shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in PRPL, but not buy additional shares or sell existing shares.
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5 analysts have issued 12-month price targets for Purple Innovation's shares. Their PRPL share price forecasts range from $2.75 to $8.00. On average, they predict the company's stock price to reach $5.46 in the next year. This suggests a possible upside of 74.4% from the stock's current price.
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Purple Innovation's stock was trading at $4.79 on January 1st, 2023. Since then, PRPL stock has decreased by 34.7% and is now trading at $3.13.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 8th 2023.
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Purple Innovation, Inc. (NASDAQ:PRPL) issued its earnings results on Wednesday, May, 10th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.01. The firm had revenue of $109.37 million for the quarter, compared to analysts' expectations of $104.99 million. Purple Innovation had a negative net margin of 18.36% and a negative trailing twelve-month return on equity of 12.57%.

Invesco Nasdaq Future Gen 200 ETF holds 6,502 shares of PRPL stock, representing 0.28% of its portfolio.

Purple Innovation issued an update on its FY 2023 earnings guidance on Friday, May, 12th. The company provided EPS guidance of for the period. The company issued revenue guidance of $590.00 million-$615.00 million, compared to the consensus revenue estimate of $583.29 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 institutional and retail investors. Top institutional investors include FMR LLC (10.46%), No Street GP LP (4.89%), BlackRock Inc. (3.87%), Freshford Capital Management LLC (3.11%), Brandywine Global Investment Management LLC (2.68%) and Brandywine Global Investment Management LLC (2.68%). Insiders that own company stock include Casey Kale Mcgarvey, Coliseum Capital Management, L, Craig Lee Phillips, Eric Scott Haynor, Gary T Dicamillo, Jack Roddy, Jeffery Scott Kerby, John A Legg, Pano Anthos, Paul J Zepf, R Carter Pate, Robert Demartini, Tony Marion Pearce and Verdi Ray White III.
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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.
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One share of PRPL stock can currently be purchased for approximately $3.13.

Purple Innovation (NASDAQ:PRPL) has a market capitalization of $330.19 million and generates $541.89 million in revenue each year. The company earns $-89,690,000.00 in net income (profit) each year or ($1.08) on an earnings per share basis.

The company employs 1,600 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.