Purple Innovation - PRPL Stock Forecast, Price & News

8 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Purple Innovation in the last twelve months. There are currently 1 sell rating, 4 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street equities 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 analysts have issued 1-year price objectives for Purple Innovation's shares. Their PRPL share price forecasts range from $4.50 to $8.00. On average, they anticipate the company's share price to reach $5.78 in the next twelve months. This suggests a possible upside of 12.2% 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 shares have decreased by 61.2% and is now trading at $5.15.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, March 7th 2023.
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Purple Innovation, Inc. (NASDAQ:PRPL) posted its quarterly earnings results on Wednesday, November, 9th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.09. The business earned $143.28 million during the quarter, compared to the consensus estimate of $138.57 million. Purple Innovation had a negative net margin of 6.66% and a negative trailing twelve-month return on equity of 22.09%.

Purple Innovation updated its FY 2022 earnings guidance on Wednesday, November, 9th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $570.00 million-$590.00 million, compared to the consensus revenue estimate of $578.66 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 shareholders include BlackRock Inc. (4.32%), Freshford Capital Management LLC (4.21%), Brandywine Global Investment Management LLC (2.93%), Vanguard Group Inc. (2.80%), Federated Hermes Inc. (2.33%) and State Street Corp (1.38%). 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 $5.15.

Purple Innovation (NASDAQ:PRPL) has a market capitalization of $472.92 million and generates $726.23 million in revenue each year. The company earns $4.03 million in net income (profit) each year or ($0.66) 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.