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

Oppenheimer restated their market perform rating on shares of Purple Innovation (NASDAQ:PRPL) in a report published on Monday morning, Benzinga reports.

PRPL has been the subject of several other research reports. KeyCorp lowered their price target on shares of Purple Innovation from $8.00 to $6.00 and set an overweight rating for the company in a research report on Friday, November 10th. Craig Hallum reiterated a hold rating on shares of Purple Innovation in a research report on Friday, November 10th. Finally, Wedbush decreased 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 report on Friday, November 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Purple Innovation has an average rating of Hold and a consensus price target of $4.15.

Purple Innovation Stock Performance

Purple Innovation stock opened at $0.59 on Monday. The company has a 50-day simple moving average of $1.39 and a 200-day simple moving average of $2.33. The firm has a market capitalization of $62.77 million, a P/E ratio of -0.35 and a beta of 1.85. Purple Innovation has a one year low of $0.55 and a one year high of $6.76.

Institutional Investors Weigh In On Purple Innovation

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc lifted its holdings in Purple Innovation by 14.6% in the 4th quarter. Legal & General Group Plc now owns 20,351 shares of the company’s stock valued at $97,000 after acquiring an additional 2,599 shares during the last quarter. Shay Capital LLC lifted its holdings in Purple Innovation by 19.7% in the 1st quarter. Shay Capital LLC now owns 16,202 shares of the company’s stock valued at $95,000 after acquiring an additional 2,662 shares during the last quarter. UBS Group AG lifted its holdings in Purple Innovation by 51.0% in the 3rd quarter. UBS Group AG now owns 10,096 shares of the company’s stock valued at $41,000 after acquiring an additional 3,409 shares during the last quarter. Rhumbline Advisers lifted its holdings in Purple Innovation by 7.0% in the 1st quarter. Rhumbline Advisers now owns 55,320 shares of the company’s stock valued at $324,000 after acquiring an additional 3,604 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Purple Innovation by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 473,478 shares of the company’s stock valued at $1,316,000 after acquiring an additional 4,473 shares during the last quarter. 92.78% of the stock is owned by institutional investors and hedge funds.

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.