Purple Innovation’s (PRPL) Neutral Rating Reiterated at Wedbush

Wedbush reaffirmed their neutral rating on shares of Purple Innovation (NASDAQ:PRPL) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $1.00 target price on the stock. Wedbush also issued estimates for Purple Innovation’s Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.07) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.00 EPS, FY2025 earnings at ($0.23) EPS, FY2026 earnings at ($0.18) EPS and FY2027 earnings at ($0.15) EPS.

Purple Innovation Trading Down 4.0 %

Shares of PRPL stock opened at $0.75 on Wednesday. The stock has a fifty day simple moving average of $0.94 and a two-hundred day simple moving average of $0.93. Purple Innovation has a 52-week low of $0.65 and a 52-week high of $2.12. The firm has a market capitalization of $80.91 million, a PE ratio of -0.75 and a beta of 2.37. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.67 and a current ratio of 1.30.

Purple Innovation (NASDAQ:PRPL) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.07. The business had revenue of $128.98 million during the quarter, compared to the consensus estimate of $129.39 million. Purple Innovation had a negative return on equity of 84.67% and a negative net margin of 21.34%. On average, analysts predict that Purple Innovation will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Purple Innovation

Several large investors have recently added to or reduced their stakes in PRPL. Wasatch Advisors LP raised its holdings in Purple Innovation by 25.0% during the 3rd quarter. Wasatch Advisors LP now owns 2,800,109 shares of the company’s stock valued at $2,768,000 after buying an additional 560,407 shares during the period. Geode Capital Management LLC grew its holdings in Purple Innovation by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,346,073 shares of the company’s stock valued at $1,331,000 after purchasing an additional 16,033 shares during the last quarter. Dynamic Advisor Solutions LLC raised its position in Purple Innovation by 27.5% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 901,176 shares of the company’s stock worth $703,000 after purchasing an additional 194,398 shares during the period. Invenomic Capital Management LP bought a new stake in Purple Innovation in the fourth quarter worth about $620,000. Finally, Truist Financial Corp boosted its position in shares of Purple Innovation by 32.4% during the fourth quarter. Truist Financial Corp now owns 629,032 shares of the company’s stock valued at $491,000 after buying an additional 154,032 shares during the period. 88.41% of the stock is owned by institutional investors.

Purple Innovation Company Profile

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.