Purple Innovation (PRPL) to Release Earnings on Tuesday

Purple Innovation (NASDAQ:PRPL) is scheduled to post 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.Investors that are interested in participating in the company’s conference call can do so using this link.

Purple Innovation (NASDAQ:PRPL) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.15) earnings per share 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 business had revenue of $145.94 million for the quarter, compared to analysts’ expectations 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 PRPL stock opened at $1.61 on Friday. The stock has a fifty day moving average price of $1.69 and a 200 day moving average price of $1.24. The company has a quick ratio of 0.68, a current ratio of 1.28 and a debt-to-equity ratio of 0.23. Purple Innovation has a 1 year low of $0.55 and a 1 year high of $3.78.

Analysts Set New Price Targets

PRPL has been the subject of several research reports. KeyCorp cut their price target on Purple Innovation from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. Craig Hallum lifted their target price on shares of Purple Innovation from $1.00 to $2.00 and gave the stock a “hold” rating in a research report on Wednesday, March 13th. Roth Mkm reiterated a “buy” rating and issued a $2.50 price target on shares of Purple Innovation in a research report on Thursday, March 21st. Roth Capital upgraded Purple Innovation from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 13th. Finally, Wedbush upped their target price on Purple Innovation from $1.25 to $2.25 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.