NASDAQ:PRPL

Purple Innovation - PRPL Stock Forecast, Price & News

$5.09

-0.12 (-2.30%)

(As of 12/6/2022 11:04 AM ET)

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Today's Range: $5.09
▼
$5.23
50-Day Range: $3.41
▼
$5.44
52-Week Range: $2.65
▼
$14.15

Volume: 3,897 shs
Average Volume: 946,931 shs
Market Capitalization: $467.41 million

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $5.78

Purple Innovation MarketRank™ Forecast

Analyst Rating: Hold
2.25 Rating Score
Upside/Downside: 11.1% Upside
$5.78 Price Target
Short Interest: Healthy
6.64% of Shares Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: N/A
Insider Trading: Acquiring Shares
$117,580 Bought Last Quarter
Proj. Earnings Growth: Growing
From ($0.31) to ($0.08) Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.97 out of 5 stars

Consumer Staples Sector

94th out of 143 stocks

Household Furniture Industry

8th out of 9 stocks

2.1

Analyst's Opinion

Consensus Rating
Purple Innovation has received a consensus rating of Hold. The company's average rating score is 2.25, and is based on 3 buy ratings, 4 hold ratings, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $5.78, Purple Innovation has a forecasted upside of 11.1% from its current price of $5.20.
Amount of Analyst Coverage
Purple Innovation has only been the subject of 3 research reports in the past 90 days.

4.0

Short Interest

Percentage of Shares Shorted
6.64% of the outstanding shares of Purple Innovation have been sold short.
Short Interest Ratio / Days to Cover
Purple Innovation has a short interest ratio ("days to cover") of 2.6, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Purple Innovation has recently decreased by 12.10%, indicating that investor sentiment is improving significantly.

0.0

Dividend Strength

Dividend Yield
Purple Innovation does not currently pay a dividend.
Dividend Growth
Purple Innovation does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for PRPL.

2.8

News and Social Media Coverage

News Sentiment
Purple Innovation has a news sentiment score of 1.05. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.47 average news sentiment score of Consumer Staples companies.
News Coverage This Week
MarketBeat has tracked 1 news article for Purple Innovation this week, compared to 2 articles on an average week.
Search Interest
7 people have searched for PRPL on MarketBeat in the last 30 days. This is an increase of 17% compared to the previous 30 days.

3.3

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Purple Innovation insiders have bought more of their company's stock than they have sold. Specifically, they have bought $117,580.00 in company stock and sold $0.00 in company stock.
Percentage Held by Insiders
35.04% of the stock of Purple Innovation is held by insiders. A high percentage of insider ownership can be a sign of company health.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Purple Innovation are expected to grow in the coming year, from ($0.31) to ($0.08) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Purple Innovation is -7.88, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Purple Innovation is -7.88, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Purple Innovation has a P/B Ratio of 2.37. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Purple Innovation (NASDAQ:PRPL) Stock

Purple Innovation, Inc. designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, weighted blankets, and duvets, as well as pet beds. It markets and sells its products through its e-commerce online channels retail brick-and-mortar wholesale partners, and third-party online retailers, as well as through Purple retail showrooms. The company was founded in 2010 and is headquartered in Lehi, Utah.

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PRPL Stock News Headlines

December 2, 2022 | americanbankingnews.com

Analysts Set Purple Innovation, Inc. (NASDAQ:PRPL) PT at $5.78

November 23, 2022 | seekingalpha.com

Purple Innovation: Higher Offer Is Likely

November 14, 2022 | finance.yahoo.com

Fast-paced Momentum Stock Purple Innovation (PRPL) Is Still Trading at a Bargain

November 14, 2022 | finance.yahoo.com

How Much Upside is Left in Purple Innovation (PRPL)? Wall Street Analysts Think 75%

November 10, 2022 | 247wallst.com

Purple Swings To Profits In Q3 And Surprises Investors With Guidance Upgrade, Sending Shares Up 15%

November 10, 2022 | seekingalpha.com

Purple Innovation stock gains 37% on raised outlook as efforts to manage costs pay off

November 10, 2022 | finance.yahoo.com

Purple Innovation Pops On Q3 Earnings Beat

November 10, 2022 | nasdaq.com

Purple Swings To Profits In Q3 And Surprises Investors With Guidance Upgrade, Sending Shares Up 15% In After Hours Trading

November 10, 2022 | seekingalpha.com

Purple Innovation, Inc. (PRPL) Q3 2022 Earnings Call Transcript

November 9, 2022 | msn.com

Purple Innovation (PRPL) Surpasses Q3 Earnings and Revenue Estimates

November 9, 2022 | finance.yahoo.com

Purple Innovation Reports Third Quarter 2022 Results

November 4, 2022 | finance.yahoo.com

Purple to Report Third Quarter 2022 Results on November 9, 2022

October 18, 2022 | finance.yahoo.com

Purple Appoints Keira Krausz as Chief Marketing Officer

October 13, 2022 | seekingalpha.com

Purple Innovation: I Believe That The Stock Is Worth Much More

September 28, 2022 | 247wallst.com

Purple Innovation Goes to the Mattresses in Fight With Coliseum Over Unsolicited Bid

September 26, 2022 | nasdaq.com

Purple Innovation Special Committee Adopts Rights Plan In Response To Coliseum Proposal

September 26, 2022 | marketwatch.com

Purple Innovation Adopts Poison Pill as It Mulls Bid From Coliseum >PRPL

September 26, 2022 | seekingalpha.com

Purple Innovation fires off poison pill, hires special committee in reaction to takeover bid

September 26, 2022 | finance.yahoo.com

Purple Innovation stock falls after adopting 'poison pill' in response to unsolicited buyout bid from large shareholder

September 19, 2022 | marketwatch.com

Purple Innovation Shares Rally 46% on Buyout Proposal >PRPL

September 19, 2022 | finance.yahoo.com

Here's Why Purple Innovation Stock Skyrocketed Today

September 19, 2022 | nasdaq.com

Purple Innovation Gets Non-binding Proposal From Coliseum Capital Management

September 19, 2022 | marketwatch.com

Purple Innovation Shares Soar on Buyout Bid From Coliseum >PRPL

September 19, 2022 | seekingalpha.com

Purple may see other bidders, Coliseum will likely have to raise offer - analyst

September 19, 2022 | finance.yahoo.com

Purple Innovation Confirms Receipt of Unsolicited, Non-Binding Proposal to Acquire the Company

See More Headlines

30 days | 90 days | 365 days | Advanced Chart

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PRPL Company Calendar

Last Earnings: 11/09/2022
Today: 12/06/2022
Fiscal Year End: 12/31/2022
Next Earnings (Estimated): 3/07/2023

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Household furniture
Sub-Industry: N/A
Sector: Consumer Staples
Current Symbol: NASDAQ:PRPL
CUSIP: N/A
CIK: 1643953
Web: www.purple.com
Phone: (801) 756-2600
Fax: N/A
Employees: 1,800
Year Founded: N/A

Price Target and Rating

Average Stock Price Forecast: $5.78
High Stock Price Forecast: $8.00
Low Stock Price Forecast: $4.50
Forecasted Upside/Downside: +13.5%
Consensus Rating: Hold
Rating Score (0-4): 2.25
Research Coverage: 8 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($0.66)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $4.03 million
Net Margins: -6.66%
Pretax Margin: -8.16%
Return on Equity: -22.09%
Return on Assets: -7.15%

Debt

Debt-to-Equity Ratio: 0.15
Current Ratio: 1.79
Quick Ratio: 0.95

Sales & Book Value

Annual Sales: $726.23 million
Price / Sales: 0.64
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $2.19 per share
Price / Book: 2.32

Miscellaneous

Outstanding Shares: 91,830,000
Free Float: 59,651,000
Market Cap: $467.41 million
Optionable: Not Optionable
Beta: 1.53

Key Executives

Mr. Robert T. DeMartini (Age 60)
CEO & Director

Mr. Bennett L. Nussbaum (Age 75)
Interim CFO & Treasurer
Comp: $220.97k

Mr. Casey K. McGarvey (Age 62)
Chief Legal Officer & Sec.
Comp: $416.85k

Mr. Eric Haynor
Chief Operating Officer

Mr. George Turner Ulrich (Age 61)
VP of Accounting & Financial Reporting

Misty Bond
Director of Communications

Ms. Keira Krausz (Age 56)
Chief Marketing Officer

Mr. John Jack Roddy IV (Age 54)
Chief People Officer

Ms. Jodi Morrison Deputy (Age 47)
Head of People

Mr. Verdi Ray White III (Age 43)
Chief Retail Officer

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

PRPL Stock - Frequently Asked Questions

Should I buy or sell Purple Innovation stock right now?: 8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Purple Innovation in the last year. There are currently 1 sell rating, 4 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street 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.
View PRPL analyst ratings or view top-rated stocks.
What is Purple Innovation's stock price forecast for 2023?: 8 equities research analysts have issued twelve-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 share price to reach $5.78 in the next year. This suggests a possible upside of 10.9% from the stock's current price.
View analysts price targets for PRPL or view top-rated stocks among Wall Street analysts.
How have PRPL shares performed in 2022?: Purple Innovation's stock was trading at $13.27 at the beginning of 2022. Since then, PRPL shares have decreased by 60.7% and is now trading at $5.21.
View the best growth stocks for 2022 here.
When is Purple Innovation's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, March 7th 2023.
View our PRPL earnings forecast.
How were Purple Innovation's earnings last quarter?: Purple Innovation, Inc. (NASDAQ:PRPL) announced its quarterly earnings data on Wednesday, November, 9th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.09. The firm earned $143.28 million during the quarter, compared to analyst estimates of $138.57 million. Purple Innovation had a negative trailing twelve-month return on equity of 22.09% and a negative net margin of 6.66%.
What guidance has Purple Innovation issued on next quarter's earnings?: Purple Innovation issued an update on 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.

What is Joe Megibow's approval rating as Purple Innovation's CEO?: 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.
What other stocks do shareholders of Purple Innovation own?: 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).
What is Purple Innovation's stock symbol?: Purple Innovation trades on the NASDAQ under the ticker symbol "PRPL."
Who are Purple Innovation's major shareholders?: Purple Innovation's stock is owned by many different retail and institutional investors. Top institutional investors 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.
View institutional ownership trends.
How do I buy shares of Purple Innovation?: 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.
Compare Top Brokerages Here.
What is Purple Innovation's stock price today?: One share of PRPL stock can currently be purchased for approximately $5.21.
How much money does Purple Innovation make?: Purple Innovation (NASDAQ:PRPL) has a market capitalization of $478.42 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.
How many employees does Purple Innovation have?: The company employs 1,800 workers across the globe.
How can I contact Purple Innovation?: 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.

This page (NASDAQ:PRPL) was last updated on 12/6/2022 by MarketBeat.com Staff

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