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

Shares of Purple Innovation, Inc. (NASDAQ:PRPL) have earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $3.95.

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

Purple Innovation Trading Up 2.6 %

Shares of Purple Innovation stock opened at $1.96 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.28 and a quick ratio of 0.68. Purple Innovation has a 1 year low of $0.55 and a 1 year high of $3.78. The firm has a market cap of $210.13 million, a PE ratio of -1.77 and a beta of 1.98. The company has a 50 day simple moving average of $1.56 and a two-hundred day simple moving average of $1.24.

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

Institutional Trading of Purple Innovation

Large investors have recently modified their holdings of the business. Legal & General Group Plc increased its stake in shares of Purple Innovation by 14.6% during the fourth quarter. Legal & General Group Plc now owns 20,351 shares of the company’s stock valued at $97,000 after buying an additional 2,599 shares during the period. Shay Capital LLC increased its position in Purple Innovation by 19.7% during the 1st quarter. Shay Capital LLC now owns 16,202 shares of the company’s stock valued at $95,000 after purchasing an additional 2,662 shares during the period. UBS Group AG raised 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 worth $41,000 after purchasing an additional 3,409 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Purple Innovation by 7.0% in the 1st quarter. Rhumbline Advisers now owns 55,320 shares of the company’s stock worth $324,000 after purchasing an additional 3,604 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Purple Innovation by 1.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 473,478 shares of the company’s stock valued at $1,316,000 after purchasing an additional 4,473 shares in the last quarter. 88.41% of the stock is owned by institutional investors.

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.