Roth Capital Forecasts Weaker Earnings for Purple Innovation

Purple Innovation, Inc. (NASDAQ:PRPL - Free Report) - Investment analysts at Roth Capital cut their FY2024 EPS estimates for shares of Purple Innovation in a research report issued on Monday, November 4th. Roth Capital analyst M. Koranda now anticipates that the company will earn ($0.51) per share for the year, down from their prior estimate of ($0.41). The consensus estimate for Purple Innovation's current full-year earnings is ($0.48) per share. Roth Capital also issued estimates for Purple Innovation's Q4 2024 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.07) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.31) EPS and FY2026 earnings at ($0.22) EPS.

Purple Innovation (NASDAQ:PRPL - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.02. The company had revenue of $118.60 million for the quarter, compared to analysts' expectations of $125.64 million. Purple Innovation had a negative net margin of 21.34% and a negative return on equity of 70.68%. During the same period in the prior year, the company posted ($0.18) EPS.

A number of other brokerages have also recently commented on PRPL. Craig Hallum dropped their price target on shares of Purple Innovation from $2.00 to $1.50 and set a "hold" rating on the stock in a research note on Tuesday, August 6th. Wedbush lowered shares of Purple Innovation from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $1.75 to $1.10 in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Purple Innovation presently has a consensus rating of "Moderate Buy" and a consensus price target of $2.53.

Purple Innovation Stock Performance

Shares of PRPL stock traded down $0.04 during trading on Thursday, reaching $0.81. 650,093 shares of the company's stock traded hands, compared to its average volume of 546,829. The company has a market capitalization of $87.48 million, a P/E ratio of -0.81 and a beta of 2.08. The company has a current ratio of 1.43, a quick ratio of 0.67 and a debt-to-equity ratio of 0.69. The firm's 50-day moving average is $0.97 and its 200 day moving average is $1.15. Purple Innovation has a 1 year low of $0.55 and a 1 year high of $2.33.

Institutional Investors Weigh In On Purple Innovation

A number of large investors have recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP bought a new stake in shares of Purple Innovation during the 2nd quarter valued at about $144,000. Virtu Financial LLC bought a new stake in shares of Purple Innovation during the 1st quarter valued at about $112,000. Renaissance Technologies LLC boosted its stake in shares of Purple Innovation by 316.3% during the 2nd quarter. Renaissance Technologies LLC now owns 71,226 shares of the company's stock valued at $74,000 after purchasing an additional 54,116 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Purple Innovation during the 2nd quarter valued at about $43,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Purple Innovation by 51.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 60,009 shares of the company's stock valued at $105,000 after purchasing an additional 20,400 shares in the last quarter. Institutional investors own 88.41% of the company's stock.

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.