Purple Innovation, Inc. (NASDAQ:PRPL - Free Report) - Stock analysts at Wedbush dropped their FY2024 earnings estimates for shares of Purple Innovation in a note issued to investors on Wednesday, January 22nd. Wedbush analyst S. Basham now anticipates that the company will post earnings per share of ($0.49) for the year, down from their previous forecast of ($0.47). The consensus estimate for Purple Innovation's current full-year earnings is ($0.47) per share. Wedbush also issued estimates for Purple Innovation's Q4 2024 earnings at ($0.09) EPS.
Purple Innovation (NASDAQ:PRPL - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.02. The business had revenue of $118.60 million for the quarter, compared to analysts' expectations of $125.64 million. Purple Innovation had a negative return on equity of 84.67% and a negative net margin of 21.34%. During the same quarter in the previous year, the firm earned ($0.18) earnings per share.
Purple Innovation Stock Performance
NASDAQ PRPL traded up $0.05 on Friday, reaching $1.25. The stock had a trading volume of 534,036 shares, compared to its average volume of 567,669. The stock has a market cap of $134.64 million, a P/E ratio of -1.25 and a beta of 2.08. Purple Innovation has a 12-month low of $0.75 and a 12-month high of $2.33. The business's 50-day moving average price is $0.92 and its 200 day moving average price is $1.02. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.67 and a current ratio of 1.30.
Hedge Funds Weigh In On Purple Innovation
A number of institutional investors have recently modified their holdings of the business. B.O.S.S. Retirement Advisors LLC acquired a new position in Purple Innovation in the 4th quarter valued at about $78,000. Dynamic Advisor Solutions LLC increased its holdings in shares of Purple Innovation by 27.5% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 901,176 shares of the company's stock valued at $703,000 after purchasing an additional 194,398 shares during the period. SG Americas Securities LLC raised its stake in shares of Purple Innovation by 70.2% during the fourth quarter. SG Americas Securities LLC now owns 35,272 shares of the company's stock worth $28,000 after purchasing an additional 14,548 shares during the last quarter. Barclays PLC lifted its holdings in shares of Purple Innovation by 283.1% during the third quarter. Barclays PLC now owns 74,803 shares of the company's stock worth $74,000 after purchasing an additional 55,275 shares during the period. Finally, Geode Capital Management LLC grew its position in Purple Innovation by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,346,073 shares of the company's stock valued at $1,331,000 after buying an additional 16,033 shares during the last quarter. 88.41% of the stock is owned by institutional investors and hedge funds.
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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