Purple Innovation (NASDAQ:PRPL - Get Free Report) announced its earnings results on Monday. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02, Zacks reports. Purple Innovation had a negative return on equity of 72.81% and a negative net margin of 19.86%. The business had revenue of $118.60 million during the quarter, compared to the consensus estimate of $125.64 million. During the same period in the prior year, the business posted ($0.18) earnings per share. Purple Innovation updated its FY 2024 guidance to EPS.
Purple Innovation Stock Down 12.0 %
PRPL traded down $0.11 on Tuesday, reaching $0.83. 759,062 shares of the company traded hands, compared to its average volume of 546,598. The company has a market cap of $89.10 million, a price-to-earnings ratio of -0.84 and a beta of 2.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.43 and a quick ratio of 0.67. The stock's 50 day moving average price is $1.00 and its 200-day moving average price is $1.16. Purple Innovation has a 52-week low of $0.55 and a 52-week high of $2.33.
Wall Street Analysts Forecast Growth
A number of analysts have commented on PRPL shares. Wedbush lowered shares of Purple Innovation from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $1.75 to $1.10 in a research note on Wednesday, September 4th. Craig Hallum decreased their price objective on shares of Purple Innovation from $2.00 to $1.50 and set a "hold" rating for the company in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Purple Innovation currently has an average rating of "Moderate Buy" and a consensus price target of $2.53.
Read Our Latest Stock Report on PRPL
About Purple Innovation
(
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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.
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