Purple Innovation (NASDAQ:PRPL) Receives Neutral Rating from Wedbush

Purple Innovation (NASDAQ:PRPL - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at Wedbush in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $1.00 price target on the stock. Wedbush's target price would suggest a potential upside of 33.12% from the stock's current price. Wedbush also issued estimates for Purple Innovation's Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.07) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.00 EPS, FY2025 earnings at ($0.23) EPS, FY2026 earnings at ($0.18) EPS and FY2027 earnings at ($0.15) EPS.

Purple Innovation Trading Down 4.0 %

Shares of PRPL traded down $0.03 during trading hours on Wednesday, hitting $0.75. 416,789 shares of the stock were exchanged, compared to its average volume of 485,932. Purple Innovation has a fifty-two week low of $0.65 and a fifty-two week high of $2.12. The business has a 50-day moving average of $0.94 and a 200-day moving average of $0.93. The firm has a market capitalization of $80.91 million, a P/E ratio of -0.75 and a beta of 2.37. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.30 and a quick ratio of 0.67.

Purple Innovation (NASDAQ:PRPL - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.07. The company had revenue of $128.98 million for the quarter, compared to analyst estimates of $129.39 million. Purple Innovation had a negative return on equity of 84.67% and a negative net margin of 21.34%. On average, research analysts expect that Purple Innovation will post -0.47 EPS for the current year.

Institutional Investors Weigh In On Purple Innovation

A number of hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in shares of Purple Innovation by 70.2% in the 4th 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 in the last quarter. Bank of America Corp DE lifted its stake in shares of Purple Innovation by 45.1% in the fourth quarter. Bank of America Corp DE now owns 55,984 shares of the company's stock valued at $44,000 after buying an additional 17,406 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Purple Innovation during the third quarter valued at about $70,000. Barclays PLC increased its position 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 acquiring an additional 55,275 shares in the last quarter. Finally, Townsquare Capital LLC acquired a new stake in shares of Purple Innovation in the 4th quarter worth about $73,000. Institutional investors and hedge funds 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.