Purple Innovation Stock Forecast, Price & News

11 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Purple Innovation in the last twelve months. There are currently 11 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" Purple Innovation stock.
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Wall Street analysts have given Purple Innovation a "Buy" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains. MarketBeat just released five new stock ideas, but Purple Innovation wasn't one of them. MarketBeat thinks these five companies may be even better buys.
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Purple Innovation saw a increase in short interest during the month of June. As of June 30th, there was short interest totaling 5,890,000 shares, an increase of 61.8% from the June 15th total of 3,640,000 shares. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is presently 4.9 days. Currently, 8.9% of the shares of the stock are sold short.
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Purple Innovation is scheduled to release its next quarterly earnings announcement on Thursday, August 12th 2021.
View our earnings forecast for Purple Innovation.

Purple Innovation, Inc. (NASDAQ:PRPL) issued its earnings results on Monday, May, 17th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.11 by $0.06. The firm earned $186.40 million during the quarter, compared to analyst estimates of $166.25 million. Purple Innovation had a trailing twelve-month return on equity of 91.36% and a net margin of 2.21%. The company's revenue was up 52.3% compared to the same quarter last year.
View Purple Innovation's earnings history.

Purple Innovation's stock was trading at $8.29 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization. Since then, PRPL shares have increased by 212.8% and is now trading at $25.93.
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Purple Innovation issued an update on its second quarter 2021 earnings guidance on Tuesday, June, 15th. The company provided EPS guidance of $- for the period. The company issued revenue guidance of $200 million-210 million, compared to the consensus revenue estimate of $194.09 million.

11 brokerages have issued 12-month price targets for Purple Innovation's shares. Their forecasts range from $31.00 to $45.00. On average, they expect Purple Innovation's share price to reach $36.90 in the next year. This suggests a possible upside of 42.3% from the stock's current price.
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39 employees have rated Purple Innovation CEO Joe Megibow on Glassdoor.com. Joe Megibow has an approval rating of 77% among Purple Innovation's employees.

Some companies that are related to Purple Innovation include Leggett & Platt (LEG), Sleep Number (SNBR), Compass Diversified (CODI), La-Z-Boy (LZB), Kimball International (KBAL), Hooker Furniture (HOFT), Casper Sleep (CSPR), Flexsteel Industries (FLXS), Natuzzi (NTZ), Luvu Brands (LUVU), Nova LifeStyle (NVFY) and The Rowe Companies (ROWC).
View all of PRPL's competitors.

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), The 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 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 $25.93.

Purple Innovation has a market capitalization of $1.73 billion and generates $648.47 million in revenue each year. The company earns $-236,870,000.00 in net income (profit) each year or $0.78 on an earnings per share basis.

Purple Innovation employs 1,600 workers across the globe.

The official website for Purple Innovation is www.purple.com.

Purple Innovation is headquartered at 4100 N. CHAPEL RIDGE RD SUITE 200, LEHI UT, 84043.

Purple Innovation's mailing address is 4100 N. CHAPEL RIDGE RD SUITE 200, LEHI UT, 84043. The company can be reached via phone at 801-756-2600 or via email at [email protected]