Purple Innovation, Inc. (NASDAQ:PRPL) Receives $3.95 Consensus Price Target from Analysts

Shares of Purple Innovation, Inc. (NASDAQ:PRPL) have been given a consensus rating of “Moderate Buy” by the six analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $3.85.

A number of research firms have recently weighed in on PRPL. Wedbush reissued an “outperform” rating and issued a $2.25 price objective on shares of Purple Innovation in a research report on Wednesday, May 8th. Craig Hallum cut their price objective on shares of Purple Innovation from $2.00 to $1.50 and set a “hold” rating for the company in a research report on Tuesday, August 6th.

Purple Innovation Stock Up 1.0 %

Shares of NASDAQ PRPL opened at $1.04 on Friday. Purple Innovation has a 12-month low of $0.55 and a 12-month high of $2.52. The company has a market capitalization of $111.99 million, a PE ratio of -0.78 and a beta of 2.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.50 and a quick ratio of 0.75. The firm’s 50-day moving average is $1.15 and its two-hundred day moving average is $1.39.

Purple Innovation (NASDAQ:PRPL) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $120.27 million during the quarter, compared to analyst estimates of $127.41 million. Purple Innovation had a negative net margin of 26.97% and a negative return on equity of 62.31%. During the same period in the prior year, the firm earned ($0.20) EPS. Equities analysts anticipate that Purple Innovation will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Purple Innovation news, CEO Robert Demartini acquired 51,061 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was bought at an average cost of $0.98 per share, for a total transaction of $50,039.78. Following the completion of the purchase, the chief executive officer now directly owns 514,730 shares in the company, valued at $504,435.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 54.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Purple Innovation

Several institutional investors have recently bought and sold shares of PRPL. Caliber Wealth Management LLC boosted its stake in shares of Purple Innovation by 32.3% in the first quarter. Caliber Wealth Management LLC now owns 33,082 shares of the company’s stock valued at $58,000 after purchasing an additional 8,082 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Purple Innovation by 73.7% during the first quarter. BNP Paribas Financial Markets now owns 26,879 shares of the company’s stock worth $47,000 after purchasing an additional 11,405 shares during the period. SG Americas Securities LLC raised its holdings in shares of Purple Innovation by 36.6% during the fourth quarter. SG Americas Securities LLC now owns 51,847 shares of the company’s stock worth $53,000 after purchasing an additional 13,905 shares during the period. Crumly & Associates Inc. raised its holdings in shares of Purple Innovation by 35.5% during the second quarter. Crumly & Associates Inc. now owns 66,763 shares of the company’s stock worth $69,000 after purchasing an additional 17,500 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Purple Innovation by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,903,799 shares of the company’s stock worth $5,053,000 after purchasing an additional 20,189 shares during the period. 88.41% of the stock is currently owned by hedge funds and other institutional investors.

About Purple Innovation

Purple Innovation, Inc designs and manufactures sleep and other products in the United States and internationally. The company offers mattresses, pillows, cushions, bases, sheets, platforms, adjustable bases, mattress protectors, foundations, blankets, duvets, duvet covers, seat cushions, and pet beds under the Purple brand.