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 year. There are currently 1 sell rating, 4 hold ratings 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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8 analysts have issued 12 month price targets for Purple Innovation's stock. Their PRPL share price forecasts range from $4.50 to $8.00. On average, they expect the company's share price to reach $6.11 in the next year. This suggests that the stock has a possible downside of 1.3%.
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Purple Innovation's stock was trading at $4.79 on January 1st, 2023. Since then, PRPL stock has increased by 29.2% and is now trading at $6.19.
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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) announced its quarterly earnings results on Wednesday, November, 9th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.09. The company earned $143.28 million during the quarter, compared to analysts' expectations 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 earnings guidance on Monday, January, 30th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $574.00 million-$574.00 million, compared to the consensus revenue estimate of $579.75 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 shareholders include Lapides Asset Management LLC (0.55%), Quent Capital LLC (0.09%), New York State Common Retirement Fund (0.04%), Ironwood Investment Management LLC (0.03%), Bank of Montreal Can (0.00%) and Concourse Financial Group Securities Inc. (0.00%). 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 $6.19.

Purple Innovation (NASDAQ:PRPL) has a market capitalization of $568.43 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.