Analysts Expect Purple Innovation Inc (PRPL) to Announce $0.01 Earnings Per Share

Shares of Purple Innovation Inc (NASDAQ:PRPL) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Brokers have set a 1-year consensus price objective of $6.50 for the company and are predicting that the company will post $0.01 earnings per share for the current quarter, according to Zacks. Zacks has also given Purple Innovation an industry rank of 25 out of 257 based on the ratings given to related companies.

Several brokerages have recently commented on PRPL. Wedbush reduced their price objective on Purple Innovation from $8.00 to $6.50 and set an “outperform” rating on the stock in a research report on Thursday. Zacks Investment Research upgraded Purple Innovation from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a research report on Wednesday, August 15th.

NASDAQ PRPL traded up $0.76 during trading on Friday, reaching $5.51. The company’s stock had a trading volume of 19,588 shares, compared to its average volume of 50,978. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.52 and a current ratio of 1.28. Purple Innovation has a one year low of $4.45 and a one year high of $13.90.

Purple Innovation (NASDAQ:PRPL) last announced its earnings results on Wednesday, November 14th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The business had revenue of $70.81 million during the quarter, compared to analyst estimates of $86.20 million. On average, equities analysts anticipate that Purple Innovation will post -0.1 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in PRPL. Millennium Management LLC bought a new position in shares of Purple Innovation during the 1st quarter valued at about $100,000. BlackRock Inc. bought a new position in shares of Purple Innovation during the 2nd quarter valued at about $1,941,000. Northern Trust Corp bought a new position in shares of Purple Innovation during the 2nd quarter valued at about $328,000. Cpwm LLC bought a new position in shares of Purple Innovation during the 3rd quarter valued at about $116,000. Finally, LPL Financial LLC increased its position in shares of Purple Innovation by 347.2% during the 3rd quarter. LPL Financial LLC now owns 56,800 shares of the company’s stock valued at $329,000 after purchasing an additional 44,100 shares during the last quarter. Hedge funds and other institutional investors own 12.66% of the company’s stock.

Purple Innovation Company Profile

Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. The company markets and sells its products through direct-to-consumer and retail channels. Purple Innovation, Inc was founded in 2010 and is headquartered in Alpine, Utah.

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