Purple Innovation - PRPL Stock Forecast, Price & News

8 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, 5 hold ratings and 2 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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8 Wall Street analysts have issued 12-month price targets for Purple Innovation's shares. Their PRPL share price forecasts range from $4.50 to $8.00. On average, they anticipate the company's stock price to reach $5.75 in the next year. This suggests a possible upside of 42.0% from the stock's current price.
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Purple Innovation's stock was trading at $13.27 at the start of the year. Since then, PRPL stock has decreased by 69.5% and is now trading at $4.05.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 8th 2022.
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Purple Innovation, Inc. (NASDAQ:PRPL) announced its quarterly earnings results on Tuesday, August, 9th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.05) by $0.06. The business had revenue of $144.10 million for the quarter, compared to the consensus estimate of $155.79 million. Purple Innovation had a negative net margin of 6.39% and a negative trailing twelve-month return on equity of 28.60%. The company's quarterly revenue was down 21.1% on a year-over-year basis. During the same period last year, the firm earned $0.05 EPS.

Purple Innovation issued an update on its FY 2022 earnings guidance on Tuesday, September, 13th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $570.00 million-$590.00 million, compared to the consensus revenue estimate of $652.60 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."

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 $4.05.

Purple Innovation (NASDAQ:PRPL) has a market capitalization of $336.51 million and generates $726.23 million in revenue each year. The company earns $4.03 million in net income (profit) each year or ($0.74) 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.