Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:
Purple Innovation, Inc. (NASDAQ:PRPL - Get Rating) - KeyCorp decreased their Q2 2022 EPS estimates for shares of Purple Innovation in a research note issued to investors on Tuesday, May 10th. KeyCorp analyst B. Thomas now expects that the company will post earnings per share of ($0.14) for the quarter, down from their previous estimate of ($0.01). KeyCorp currently has a "Overweight" rating and a $15.00 price target on the stock. KeyCorp also issued estimates for Purple Innovation's Q3 2022 earnings at $0.01 EPS, FY2022 earnings at ($0.34) EPS and FY2023 earnings at $0.00 EPS.
Several other research analysts have also recently commented on the company. UBS Group lowered their target price on Purple Innovation from $10.00 to $6.50 and set a "neutral" rating for the company in a research note on Wednesday, March 2nd. Oppenheimer dropped their target price on Purple Innovation from $45.00 to $12.00 in a report on Friday. Roth Capital lowered Purple Innovation from a "buy" rating to a "neutral" rating and dropped their target price for the company from $10.00 to $6.00 in a report on Wednesday, March 2nd. Zacks Investment Research raised Purple Innovation from a "strong sell" rating to a "hold" rating in a report on Thursday. Finally, Truist Financial dropped their price objective on Purple Innovation from $10.00 to $5.00 and set a "hold" rating on the stock in a report on Wednesday, March 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $14.36.
Shares of PRPL opened at $4.10 on Friday. The company has a market cap of $274.58 million, a P/E ratio of -6.12 and a beta of 1.74. Purple Innovation has a fifty-two week low of $2.99 and a fifty-two week high of $33.22. The company has a quick ratio of 0.92, a current ratio of 1.62 and a debt-to-equity ratio of 0.64. The firm's 50 day moving average price is $5.73 and its 200 day moving average price is $9.19. Purple Innovation (NASDAQ:PRPL - Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.11. Purple Innovation had a negative net margin of 4.44% and a negative return on equity of 26.47%. The firm had revenue of $143.18 million during the quarter, compared to the consensus estimate of $130.12 million. During the same quarter last year, the firm earned $0.17 EPS. The firm's revenue for the quarter was down 23.2% on a year-over-year basis.
Several institutional investors and hedge funds have recently made changes to their positions in PRPL. Royal Bank of Canada lifted its holdings in shares of Purple Innovation by 63.5% during the 2nd quarter. Royal Bank of Canada now owns 3,478 shares of the company's stock valued at $92,000 after acquiring an additional 1,351 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Purple Innovation by 97.9% in the 3rd quarter. Macquarie Group Ltd. now owns 4,429 shares of the company's stock worth $93,000 after buying an additional 2,191 shares in the last quarter. Advisor Group Holdings Inc. lifted its holdings in Purple Innovation by 31.8% in the 3rd quarter. Advisor Group Holdings Inc. now owns 5,249 shares of the company's stock worth $110,000 after buying an additional 1,267 shares in the last quarter. Point72 Hong Kong Ltd lifted its holdings in Purple Innovation by 684.7% in the 3rd quarter. Point72 Hong Kong Ltd now owns 7,329 shares of the company's stock worth $154,000 after buying an additional 6,395 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Purple Innovation by 56.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,036 shares of the company's stock worth $107,000 after buying an additional 2,885 shares in the last quarter.
In other Purple Innovation news, Director Coliseum Capital Management, L acquired 1,460,000 shares of the company's stock in a transaction dated Monday, March 7th. The stock was acquired at an average cost of $6.98 per share, with a total value of $10,190,800.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders have bought 3,907,545 shares of company stock valued at $27,392,550. Corporate insiders own 24.92% of the company's stock.
About Purple Innovation (Get Rating)
Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, weighted blankets, and duvets, as well as pet beds. It markets and sells its products through its e-commerce online channels retail brick-and-mortar wholesale partners, and third-party online retailers, as well as through Purple retail showrooms.
Further ReadingGet a free copy of the StockNews.com research report on Purple Innovation (PRPL)Is Electronic Arts (NASDAQ: EA) Suddenly A Safe Haven?Beyond Meat Stock Value is Improving The Travel Sector Is Getting Upgraded Carvana Insiders Buy Shares But Maybe You Shouldn’t Dutch Bros Gets Scalded By Inflation
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Purple Innovation, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Purple Innovation wasn't on the list.
While Purple Innovation currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
Complete the form below to receive the latest headlines and analysts' recommendations for your stocks with our free daily email newsletter:
Each market day you'll get a one-minute market summary to help you invest wisely.
Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.
Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.
MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.
Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.
Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.
MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.
Twitter Facebook StockTwits Financial Juice YouTube
© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved. 326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257 MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security. Our Accessibility Statement | Terms of Service | Do Not Sell My Information | RSS Feeds
© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.