Should I buy or sell Purple Innovation stock right now?

6 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Purple Innovation in the last twelve months. There are currently 2 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" PRPL shares. View PRPL analyst ratings or view top-rated stocks .

What is Purple Innovation's stock price target for 2024?

6 equities research analysts have issued 1-year target prices for Purple Innovation's shares. Their PRPL share price targets range from $2.00 to $8.00. On average, they predict the company's share price to reach $3.95 in the next year. This suggests a possible upside of 159.9% 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 2024?

Purple Innovation's stock was trading at $1.03 at the beginning of the year. Since then, PRPL stock has increased by 47.6% and is now trading at $1.52. View the best growth stocks for 2024 here .

When is Purple Innovation's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 8th 2024. View our PRPL earnings forecast .

How were Purple Innovation's earnings last quarter?

Purple Innovation, Inc. (NASDAQ:PRPL) posted its quarterly earnings results on Tuesday, March, 12th. The company reported ($0.15) earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.04. The company earned $145.94 million during the quarter, compared to analysts' expectations of $145.43 million. Purple Innovation had a negative trailing twelve-month return on equity of 42.60% and a negative net margin of 22.31%.

What guidance has Purple Innovation issued on next quarter's earnings?

Purple Innovation issued an update on its FY 2024 earnings guidance on Tuesday, March, 12th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $540.0 million-$560.0 million, compared to the consensus revenue estimate of $546.5 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) , RTX (RTX) , Tesla (TSLA) , NVIDIA (NVDA) , Procter & Gamble (PG) , QUALCOMM (QCOM) , Alibaba Group (BABA) , Johnson & Johnson (JNJ) and AT&T (T) .

Who are Purple Innovation's major shareholders?

Purple Innovation's stock is owned by many different retail and institutional investors. Top institutional investors include Dynamic Advisor Solutions LLC (0.70%). Insiders that own company stock include Casey Kale Mcgarvey , Coliseum Capital Management, L, Eric Scott Haynor, Gary T Dicamillo, George Turner Ulrich, Jack Roddy, Jeffery Scott Kerby, Pano Anthos , R Carter Pate and Robert Demartini. 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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services. Compare Top Brokerages Here .

NASDAQ:PRPL

Purple Innovation (PRPL) Stock Price, News & Analysis

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$1.54

+0.02 (+0.99%)

(As of 11:33 AM ET)

Compare

Today's Range: $1.48
▼
$1.55
50-Day Range: $1.29
▼
$2.08
52-Week Range: $0.55
▼
$3.78

Volume: 79,743 shs
Average Volume: 861,883 shs
Market Capitalization: $164.57 million

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $3.95

Get Purple Innovation alerts:

Purple Innovation MarketRank™ Stock Analysis

Analyst Rating: Moderate Buy
2.67 Rating Score
Upside/Downside: 159.9% Upside
$3.95 Price Target
Short Interest: Healthy
5.41% of Shares Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: N/A
Insider Trading: Acquiring Shares
$6,080 Bought Last Quarter
Proj. Earnings Growth: Growing
From ($0.34) to ($0.18) Per Share

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

3.92 out of 5 stars

Consumer Staples Sector

44th out of 136 stocks

Household Furniture Industry

3rd out of 8 stocks

4.3

Analyst's Opinion

Consensus Rating
Purple Innovation has received a consensus rating of Moderate Buy. The company's average rating score is 2.67, and is based on 4 buy ratings, 2 hold ratings, and no sell ratings.
Amount of Analyst Coverage
Purple Innovation has been the subject of 5 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

3.0

Short Interest

Percentage of Shares Shorted
5.41% 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 6.5.
Change versus previous month
Short interest in Purple Innovation has recently decreased by 7.94%, 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 1.00. 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 0.48 average news sentiment score of Consumer Staples companies.
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.
MarketBeat Follows
Only 1 people have added Purple Innovation to their MarketBeat watchlist in the last 30 days. This is a decrease of -75% compared to the previous 30 days.

5.0

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 $6,080.00 in company stock and sold $0.00 in company stock.
Percentage Held by Insiders
48.30% of the stock of Purple Innovation is held by insiders. A high percentage of insider ownership can be a sign of company health.
Percentage Held by Institutions
88.41% of the stock of Purple Innovation is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Purple Innovation are expected to grow in the coming year, from ($0.34) to ($0.18) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Purple Innovation is -1.37, 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 -1.37, 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 1.39. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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About Purple Innovation Stock (NASDAQ:PRPL)

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. It markets and sells its products through its e-commerce online channels, retail brick-and-mortar wholesale partners, third-party online retailers, and Purple showrooms, as well as through its website, Purple.com. The company was founded in 2010 and is headquartered in Lehi, Utah.

PRPL Stock Price History

30 days | 90 days | 365 days | Advanced Chart

PRPL Stock News Headlines

April 5, 2024 | seekingalpha.com

Purple Innovation: Shares Unlikely To Wake Up

March 28, 2024 | seekingalpha.com

Sleep Number: Re-Rating Following Decline In Performance

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March 23, 2024 | investorplace.com

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March 17, 2024 | finanznachrichten.de

Purple Innovation, Inc.: Purple Innovation And Tempur Sealy International Reach Agreement

March 16, 2024 | finance.yahoo.com

PRPL Apr 2024 2.000 call

March 14, 2024 | finance.yahoo.com

PRPL Mar 2024 5.000 call

March 14, 2024 | prnewswire.com

Inducement Grants to Executive Officers

April 18, 2024 | Crypto Swap Profits (Ad)

He Is Giving Away Bitcoin

March 14, 2024 | finance.yahoo.com

Purple Innovation, Inc. (NASDAQ:PRPL) Q4 2023 Earnings Call Transcript

March 13, 2024 | finance.yahoo.com

Purple Innovation to Present at the 36th Annual ROTH Conference

March 13, 2024 | finanznachrichten.de

Purple Innovation, Inc.: Purple Innovation Reports Fourth Quarter and Full Year 2023 Results

March 13, 2024 | msn.com

VRM and CTNT among Consumer Discretionary movers

March 13, 2024 | markets.businessinsider.com

Purple Innovation Stock: A Deep Dive Into Analyst Perspectives (5 Ratings)

March 13, 2024 | benzinga.com

Purple Innovation Analysts Boost Their Forecasts After Upbeat Q4 Results

March 13, 2024 | finance.yahoo.com

Q4 2023 Purple Innovation Inc Earnings Call

March 12, 2024 | sfgate.com

Purple Innovation: Q4 Earnings Snapshot

March 12, 2024 | finance.yahoo.com

Purple Innovation Reports Fourth Quarter and Full Year 2023 Results

March 12, 2024 | finance.yahoo.com

Purple Innovation Inc (PRPL) Faces Challenges Despite Revenue Growth

March 12, 2024 | prnewswire.com

PURPLE INNOVATION AND TEMPUR SEALY INTERNATIONAL REACH AGREEMENT

March 12, 2024 | msn.com

Global Markets Await U.S. Inflation Report: Mixed Movements in Pre-Market Trading

March 11, 2024 | msn.com

Purple Innovation Q4 2023 Earnings Preview

March 11, 2024 | markets.businessinsider.com

Purple Patch Consulting Is Paving a New Way in the World of Work

March 6, 2024 | markets.businessinsider.com

Purple Frog Asset Management’s Four-Day Workweek Delivers on Work-Life Promise

March 3, 2024 | finance.yahoo.com

PRPL Mar 2024 0.500 call

February 27, 2024 | finance.yahoo.com

Purple to Report Fourth Quarter and Full Year 2023 Results on March 12, 2024

February 27, 2024 | prnewswire.com

Purple to Report Fourth Quarter and Full Year 2023 Results on March 12, 2024

See More Headlines

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Company Calendar

Last Earnings: 3/12/2024
Today: 4/18/2024
Next Earnings (Estimated): 5/08/2024
Fiscal Year End: 12/31/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Sector: Consumer Staples
Industry: Household furniture
Sub-Industry: N/A
Current Symbol: NASDAQ:PRPL
CUSIP: N/A
CIK: 1643953
Web: www.purple.com
Phone: (801) 756-2600
Fax: N/A
Employees: 1,700
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $3.95
High Stock Price Target: $8.00
Low Stock Price Target: $2.00
Potential Upside/Downside: +159.9%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.67
Research Coverage: 6 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($1.11)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $-120,760,000.00
Net Margins: -22.31%
Pretax Margin: -23.74%
Return on Equity: -42.60%
Return on Assets: -16.77%

Debt

Debt-to-Equity Ratio: 0.23
Current Ratio: 1.28
Quick Ratio: 0.68

Sales & Book Value

Annual Sales: $510.54 million
Price / Sales: 0.32
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $1.09 per share
Price / Book: 1.39

Miscellaneous

Outstanding Shares: 107,210,000
Free Float: 55,429,000
Market Cap: $162.96 million
Optionable: Optionable
Beta: 1.98

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Key Executives

Mr. Robert T. DeMartini (Age 62)
CEO & Director
Comp: $662.37k
Mr. Eric S. Haynor (Age 60)
Chief Operating Officer
Comp: $759.82k
Mr. John Jack Roddy IV (Age 56)
Chief People Officer
Comp: $548.08k
Mr. Todd E. Vogensen (Age 55)
Chief Financial Officer
Mr. George Turner Ulrich (Age 63)
Vice President of Accounting & Financial Reporting
Ms. Tricia McDermott Thompkins (Age 51)
Chief Legal Officer
Misty Bond
Director of Communications
Ms. Keira M. Krausz (Age 58)
Chief Marketing Officer
Mr. Jeffrey L. Hutchings (Age 56)
Chief Innovation Officer
Mr. Jeffery Scott Kerby (Age 54)
Chief of Owned Retail Officer

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

PRPL Stock Analysis - Frequently Asked Questions

Should I buy or sell Purple Innovation stock right now?: 6 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Purple Innovation in the last twelve months. There are currently 2 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" PRPL shares.
View PRPL analyst ratings or view top-rated stocks.
What is Purple Innovation's stock price target for 2024?: 6 equities research analysts have issued 1-year target prices for Purple Innovation's shares. Their PRPL share price targets range from $2.00 to $8.00. On average, they predict the company's share price to reach $3.95 in the next year. This suggests a possible upside of 159.9% 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 2024?: Purple Innovation's stock was trading at $1.03 at the beginning of the year. Since then, PRPL stock has increased by 47.6% and is now trading at $1.52.
View the best growth stocks for 2024 here.
When is Purple Innovation's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 8th 2024.
View our PRPL earnings forecast.
How were Purple Innovation's earnings last quarter?: Purple Innovation, Inc. (NASDAQ:PRPL) posted its quarterly earnings results on Tuesday, March, 12th. The company reported ($0.15) earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.04. The company earned $145.94 million during the quarter, compared to analysts' expectations of $145.43 million. Purple Innovation had a negative trailing twelve-month return on equity of 42.60% and a negative net margin of 22.31%.
What guidance has Purple Innovation issued on next quarter's earnings?: Purple Innovation issued an update on its FY 2024 earnings guidance on Tuesday, March, 12th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $540.0 million-$560.0 million, compared to the consensus revenue estimate of $546.5 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), RTX (RTX), Tesla (TSLA), NVIDIA (NVDA), Procter & Gamble (PG), QUALCOMM (QCOM), Alibaba Group (BABA), Johnson & Johnson (JNJ) and AT&T (T).
Who are Purple Innovation's major shareholders?: Purple Innovation's stock is owned by many different retail and institutional investors. Top institutional investors include Dynamic Advisor Solutions LLC (0.70%). Insiders that own company stock include Casey Kale Mcgarvey, Coliseum Capital Management, L, Eric Scott Haynor, Gary T Dicamillo, George Turner Ulrich, Jack Roddy, Jeffery Scott Kerby, Pano Anthos, R Carter Pate and Robert Demartini.
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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:PRPL) was last updated on 4/18/2024 by MarketBeat.com Staff

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