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

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

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

Purple Innovation Price Performance

NASDAQ PRPL opened at $1.52 on Friday. Purple Innovation has a 12 month low of $0.55 and a 12 month high of $3.78. The stock has a market cap of $162.96 million, a price-to-earnings ratio of -1.37 and a beta of 1.98. The company’s 50 day moving average is $1.68 and its two-hundred day moving average is $1.23. The company has a current ratio of 1.28, a quick ratio of 0.68 and a debt-to-equity ratio of 0.23.

Purple Innovation (NASDAQ:PRPL) last released its earnings results 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 net margin of 22.31% and a negative return on equity of 42.60%. The company had revenue of $145.94 million for the quarter, compared to analysts’ expectations of $145.43 million. As a group, research analysts anticipate that Purple Innovation will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Caliber Wealth Management LLC boosted 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 buying an additional 8,082 shares during the period. American Century Companies Inc. boosted its stake in Purple Innovation by 55.1% during the third quarter. American Century Companies Inc. now owns 30,205 shares of the company’s stock worth $52,000 after buying an additional 10,731 shares during the period. SG Americas Securities LLC boosted its stake in Purple Innovation by 36.6% during the fourth quarter. SG Americas Securities LLC now owns 51,847 shares of the company’s stock worth $53,000 after buying an additional 13,905 shares during the period. Platform Technology Partners purchased a new position in Purple Innovation during the fourth quarter worth $31,000. Finally, Quadrant Capital Group LLC purchased a new position in Purple Innovation during the fourth quarter worth $32,000. 88.41% of the stock is owned by hedge funds and other 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.