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 twelve months. 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 1 year price objectives for Purple Innovation's shares. Their PRPL share price forecasts range from $2.75 to $8.00. On average, they anticipate the company's share price to reach $5.46 in the next twelve months. This suggests a possible upside of 103.7% from the stock's current price.
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Purple Innovation's stock was trading at $4.79 at the beginning of 2023. Since then, PRPL stock has decreased by 44.1% and is now trading at $2.68.
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Purple Innovation saw a decline in short interest during the month of February. As of February 28th, there was short interest totaling 5,930,000 shares, a decline of 13.0% from the February 13th total of 6,820,000 shares. Based on an average daily volume of 716,200 shares, the short-interest ratio is currently 8.3 days.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 9th 2023.
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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 analysts' consensus estimates of ($0.06) by $0.04. The firm had revenue of $145.10 million for the quarter, compared to analyst estimates of $143.48 million. Purple Innovation had a negative trailing twelve-month return on equity of 13.66% and a negative net margin of 15.58%. Purple Innovation's revenue for the quarter was down 22.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.35) EPS.

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

Purple Innovation issued an update on its first quarter 2023 earnings guidance on Thursday, March, 16th. The company provided earnings per share (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 many different 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.
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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 $2.68.

Purple Innovation (NASDAQ:PRPL) has a market capitalization of $246.10 million and generates $575.69 million in revenue each year. The company earns $-89,690,000.00 in net income (profit) each year or ($1.04) 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.