Purple Innovation, Inc. (NASDAQ:PRPL) Given Consensus Rating of “Moderate Buy” by Brokerages

Purple Innovation, Inc. (NASDAQ:PRPL) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $3.95.

A number of analysts recently issued reports on the stock. Roth Mkm restated a “buy” rating and issued a $2.50 price target on shares of Purple Innovation in a research note on Thursday, March 21st. Craig Hallum boosted their target price on shares of Purple Innovation from $1.00 to $2.00 and gave the company a “hold” rating in a research note on Wednesday, March 13th. Roth Capital upgraded shares of Purple Innovation from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 13th. Wedbush boosted their target price on shares of Purple Innovation from $1.25 to $2.25 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Finally, KeyCorp lowered their price target on shares of Purple Innovation from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PRPL. Caliber Wealth Management LLC raised its stake in Purple Innovation by 32.3% during the first quarter. Caliber Wealth Management LLC now owns 33,082 shares of the company’s stock worth $58,000 after acquiring an additional 8,082 shares in the last quarter. Wasatch Advisors LP raised its stake in Purple Innovation by 2.0% during the first quarter. Wasatch Advisors LP now owns 2,251,234 shares of the company’s stock worth $3,917,000 after acquiring an additional 44,414 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake in Purple Innovation by 9.7% during the first quarter. Dynamic Advisor Solutions LLC now owns 751,778 shares of the company’s stock worth $1,308,000 after acquiring an additional 66,256 shares in the last quarter. Sierra Summit Advisors LLC acquired a new position in Purple Innovation during the fourth quarter worth $1,000,000. Finally, Platform Technology Partners acquired a new position in Purple Innovation during the fourth quarter worth $31,000. 88.41% of the stock is owned by institutional investors.

Purple Innovation Price Performance

PRPL opened at $1.50 on Friday. Purple Innovation has a twelve month low of $0.55 and a twelve month high of $3.78. The company has a current ratio of 1.28, a quick ratio of 0.68 and a debt-to-equity ratio of 0.23. The firm has a market cap of $160.82 million, a price-to-earnings ratio of -1.35 and a beta of 1.98. The company has a fifty day simple moving average of $1.67 and a 200 day simple moving average of $1.23.

Purple Innovation (NASDAQ:PRPL) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.04. The business had revenue of $145.94 million for the quarter, compared to analysts’ expectations of $145.43 million. Purple Innovation had a negative return on equity of 42.60% and a negative net margin of 22.31%. Equities research analysts expect that Purple Innovation will post -0.34 EPS for the current fiscal year.

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.