Purple Innovation - Analysts' Recommendations and Stock Price Forecast (2024)
MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
Consensus Rating
Based on 5 Wall Street analysts who have issued ratings for Purple Innovation in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 5 analysts, 2 have given a hold rating, and 3 have given a buy rating for PRPL.
Consensus Price Target
According to the 5 analysts' twelve-month price targets for Purple Innovation, the average price target is $2.53. The highest price target for PRPL is $5.00, while the lowest price target for PRPL is $1.10. The average price target represents a forecasted upside of 204.69% from the current price of $0.83.
