Oppenheimer Reiterates Market Perform Rating for Purple Innovation (NASDAQ:PRPL)

Purple Innovation (NASDAQ:PRPL)‘s stock had its “market perform” rating reissued by research analysts at Oppenheimer in a research note issued to investors on Monday, Benzinga reports.

PRPL has been the subject of a number of other reports. KeyCorp reduced their price objective on shares of Purple Innovation from $8.00 to $6.00 and set an “overweight” rating for the company in a research note on Friday, November 10th. Craig Hallum reiterated a “hold” rating on shares of Purple Innovation in a research note on Friday, November 10th. Finally, Wedbush cut their target price on shares of Purple Innovation from $3.00 to $1.00 and set an “outperform” rating for the company in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.15.

Purple Innovation Trading Up 4.1 %

Shares of Purple Innovation stock opened at $0.61 on Monday. The firm has a fifty day simple moving average of $1.48 and a 200-day simple moving average of $2.37. Purple Innovation has a 1-year low of $0.55 and a 1-year high of $6.76. The stock has a market capitalization of $64.51 million, a price-to-earnings ratio of -0.36 and a beta of 1.85.

Institutional Investors Weigh In On Purple Innovation

Several institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of Purple Innovation by 3.5% in the 3rd quarter. FMR LLC now owns 11,702,309 shares of the company’s stock worth $20,011,000 after purchasing an additional 399,139 shares during the last quarter. No Street GP LP grew its holdings in shares of Purple Innovation by 25.6% in the 1st quarter. No Street GP LP now owns 5,150,000 shares of the company’s stock worth $13,596,000 after purchasing an additional 1,050,000 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Purple Innovation by 9.3% in the 2nd quarter. BlackRock Inc. now owns 4,451,708 shares of the company’s stock worth $12,376,000 after purchasing an additional 378,649 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Purple Innovation by 52.0% in the 1st quarter. Bank of America Corp DE now owns 3,232,656 shares of the company’s stock worth $18,911,000 after purchasing an additional 1,105,782 shares during the last quarter. Finally, Brandywine Global Investment Management LLC grew its holdings in shares of Purple Innovation by 2.9% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 2,903,881 shares of the company’s stock worth $8,073,000 after purchasing an additional 80,667 shares during the last quarter. Institutional investors own 92.78% of the company’s stock.

Purple Innovation Company Profile

Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, 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.