Analysts expect Purple Innovation, Inc. (NASDAQ: PRPL) to post revenue of $ 197.76 million for the current fiscal quarter, Zacks investment research reports. Seven analysts have released Purple Innovation earnings estimates, with estimates ranging from $ 179.89 million to $ 248.75 million. Purple Innovation posted sales of $ 173.89 million in the same quarter last year, suggesting a positive year-over-year growth rate of 13.7%. The company is expected to announce its next quarterly earnings report on Thursday, March 3.
On average, analysts expect Purple Innovation to report annual revenue of $ 729.06 million for the current fiscal year, with estimates ranging from $ 719.69 million to $ 739.80 million. of dollars. For the next year, analysts predict the company will post sales of $ 878.34 million, with estimates ranging from $ 806.30 million to $ 1.03 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts who cover Purple Innovation.
Purple Innovation (NASDAQ: PRPL) last reported its quarterly results on Tuesday, November 9. The company reported EPS ($ 0.07) for the quarter, missing the Thomson Reuters consensus estimate of $ 0.17 ($ 0.24). Purple Innovation had a return on equity of 11.40% and a net margin of 3.30%. In the same quarter of last year, the company posted EPS of $ 0.27.
PRPL has been the subject of a number of research analyst reports. B. Riley downgraded Purple Innovation’s stock from a âbuyâ rating to a âneutralâ rating and lowered its target price for the company from $ 30.00 to $ 14.00 in a research note on Wednesday 10 November. Zacks investment research downgraded Purple Innovation’s stock from a âholdâ rating to a âstrong sellâ rating in a report released on Saturday, November 13. Truist Securities downgraded Purple Innovation’s stock rating from a âbuyâ rating to a âkeepâ rating and set a price target of $ 12.00 for the company. in a report on Wednesday, November 10. Craig Hallum downgraded Purple Innovation’s stock rating from a “buy” rating to a “keep” rating and lowered his price target for the company from $ 34.00 to $ 22.00 in a report published Tuesday, September 28. Finally, Roth Capital lowered its price target on Purple Innovation shares from $ 34.00 to $ 18.00 and set a âbuyâ rating for the company in a report released on Wednesday, November 10. Three analysts gave the stock a sell rating, six assigned a conservation rating, and four gave the company a buy rating. Based on data from MarketBeat.com, Purple Innovation currently has an average âHoldâ rating and a consensus target price of $ 22.50.
Institutional investors and hedge funds have recently bought and sold shares in the company. Macquarie Group Ltd. acquired a new stake in Purple Innovation in the second quarter valued at approximately $ 59,000. US Bancorp DE increased its position in Purple Innovation shares by 43.8% in the second quarter. US Bancorp DE now owns 2,697 shares of the company valued at $ 72,000 after purchasing an additional 822 shares during the period. Stephenson National Bank & Trust increased its position in shares of Purple Innovation by 156.0% during the 3rd quarter. Stephenson National Bank & Trust now owns 3,018 shares of the company valued at $ 63,000 after purchasing an additional 1,839 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Purple Innovation by 32.1% in the second quarter. Great West Life Assurance Co. Can now owns 3,172 shares of the company valued at $ 84,000 after purchasing an additional 771 shares during the period. Finally, the Royal Bank of Canada increased its position in Purple Innovation shares by 63.5% during the second quarter. Royal Bank of Canada now owns 3,478 shares of the company valued at $ 92,000 after purchasing an additional 1,351 shares during the period.
NASDAQ: PRPL open for $ 10.01 Friday. Purple Innovation has a one-year low at $ 9.47 and a one-year high at $ 41.08. The company’s fifty-day simple moving average is $ 16.25 and its 200-day simple moving average is $ 22.43. The company has a current ratio of 1.56, a quick ratio of 0.93, and a debt ratio of 0.24. The company has a market cap of $ 669.97 million, a PE ratio of 166.83, a PEG ratio of 61.22 and a beta of 1.32.
About Purple Innovation
Purple Innovation, Inc. engages in the design and manufacture of comfort technology products. It offers mattresses, bed pillows, seat cushions, mattress protectors and bamboo sheets. The company was founded by Terry V. Pearce and Tony Marion Pearce in 1989 and is headquartered in Lehi, Utah.
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