Purple Innovation (PRPL) to Release Quarterly Earnings on Tuesday

Purple Innovation (NASDAQ:PRPL) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Purple Innovation to post earnings of ($0.15) per share for the quarter. Purple Innovation has set its FY 2024 guidance at EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Purple Innovation (NASDAQ:PRPL) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. Purple Innovation had a negative return on equity of 42.60% and a negative net margin of 22.31%. The company had revenue of $145.94 million for the quarter, compared to analyst estimates of $145.43 million. On average, analysts expect Purple Innovation to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Purple Innovation Stock Up 0.6 %

Shares of NASDAQ:PRPL opened at $1.61 on Friday. The business has a fifty day moving average of $1.69 and a 200-day moving average of $1.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.68 and a current ratio of 1.28. Purple Innovation has a twelve month low of $0.55 and a twelve month high of $3.78.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PRPL shares. Wedbush raised their price objective on shares of Purple Innovation from $1.25 to $2.25 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. Roth Mkm restated a “buy” rating and issued a $2.50 price objective on shares of Purple Innovation in a research report on Thursday, March 21st. Craig Hallum upped their price objective on Purple Innovation from $1.00 to $2.00 and gave the stock a “hold” rating in a report on Wednesday, March 13th. Roth Capital raised Purple Innovation from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 13th. Finally, KeyCorp cut their price target on Purple Innovation from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $3.95.

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.