Purple Innovation Inc [PRPL] stock is trading at $2.08, up 0.97%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The PRPL shares have gain 57.58% over the last week, with a monthly amount glided 80.87%, and seem to be holding up well over a long-time horizon.
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On 27, February 2024, Purple to Report Fourth Quarter and Full Year 2023 Results on March 12, 2024. In a post published today on Yahoo Finance, Purple Innovation, Inc. (NASDAQ: PRPL) (“Purple”), a comfort innovation company known for creating the “World’s First No Pressure® Mattress,” will report fourth quarter and full year 2023 financial results on Tuesday, March 12, 2024, at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m. ET to review the financial results.
From an analyst’s perspective:
Purple Innovation Inc [NASDAQ: PRPL] stock has seen the most recent analyst activity on November 10, 2022, when Craig Hallum upgraded its rating to a Buy and also boosted its price target to $6 from $4. Previously, UBS reaffirmed its Neutral rating on March 02, 2022, and dropped its price target to $6.50. On March 02, 2022, Truist reiterated its Hold rating and revised its price target to $5 on the stock. KeyBanc Capital Markets reiterated its Overweight rating and decreased its price target to $16 on March 02, 2022. BofA Securities reiterated its recommendation of a Underperform and reduced its price target to $4.50 on March 02, 2022. B. Riley Securities reiterated a Neutral rating for this stock on March 02, 2022, and downed its price target to $6. In a note dated March 02, 2022, ROTH Capital downgraded an Neutral rating on this stock and revised its target price from $10 to $6.
Purple Innovation Inc [PRPL] stock has fluctuated between $0.55 and $4.23 over the past year. Currently, Wall Street analysts expect the stock to reach $6 within the next 12 months. Purple Innovation Inc [NASDAQ: PRPL] shares were valued at $2.08 at the most recent close of the market. An investor can expect a potential return of 188.46% based on the average PRPL price forecast.
Analyzing the PRPL fundamentals
Purple Innovation Inc [NASDAQ:PRPL] reported sales of 515.36M for the trailing twelve months, which represents a drop of -2.29%. Gross Profit Margin for this corporation currently stands at 0.35% with Operating Profit Margin at 0.11%, Pretax Profit Margin comes in at 0.1%, and Net Profit Margin reading is -0.32%. To continue investigating profitability, this company’s Return on Assets is posted at -0.42, Equity is -0.95 and Total Capital is 0.2. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.14.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 1.95 points at the first support level, and at 1.82 for the second support level. However, for the 1st resistance point, the stock is sitting at 2.27, and for the 2nd resistance point, it is at 2.46.
Purple Innovation Inc [PRPL] reported earnings per share of -$0.18 for its fiscal quarter that ended on 9/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.02/share, meaning a difference of -$0.16 and a surprise factor of -800.00%. By comparison, the stated earnings for the previous quarter ended on 6/29/2023 were -$0.2 per share as compared to estimates of -$0.11 per share, a difference of -$0.09 representing a surprise of -81.80%.
Ratios To Look Out For
For context, Purple Innovation Inc’s Current Ratio is 1.39. Further, the Quick Ratio stands at 0.69, while the Cash Ratio is 0.26. Considering the valuation of this stock, the price to sales ratio is 0.43, the price to book ratio is 1.65.
Transactions by insiders
Recent insider trading involved DICAMILLO GARY T, Director, that happened on Aug 28 when 10000.0 shares were purchased. Chief Legal Officer, McGarvey Casey Kale completed a deal on Jun 02 to buy 22300.0 shares. Meanwhile, Chief of Owned Retail KERBY JEFFERY SCOTT bought 16350.0 shares on May 26.
