At the time of writing, Purple Innovation Inc [PRPL] stock is trading at $1.92, down -2.04%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The PRPL shares have gain 4.35% over the last week, with a monthly amount drifted -3.52%, and not seem to be holding up well over a long-time horizon.
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On 14, March 2024, Inducement Grants to Executive Officers. In a post published today on Yahoo Finance, CFO Todd Vogensen and CLO Tricia McDermott Received Inducement Grants.
From an analyst’s perspective:
Purple Innovation Inc [NASDAQ: PRPL] stock has seen the most recent analyst activity on March 13, 2024, when ROTH MKM upgraded its rating to a Buy and also boosted its price target to $2.50 from $2. Previously, Craig Hallum upgraded its rating to Buy on November 10, 2022, and elevated its price target to $6. On March 02, 2022, UBS reiterated its Neutral rating and revised its price target to $6.50 on the stock. Truist reiterated its Hold rating and decreased its price target to $5 on March 02, 2022. KeyBanc Capital Markets reiterated its recommendation of a Overweight and reduced its price target to $16 on March 02, 2022. BofA Securities reiterated a Underperform rating for this stock on March 02, 2022, and downed its price target to $4.50. In a note dated March 02, 2022, B. Riley Securities reiterated an Neutral rating on this stock and revised its target price from $9 to $6.
For the past year, the stock price of Purple Innovation Inc fluctuated between $0.55 and $3.78. Currently, Wall Street analysts expect the stock to reach $4 within the next 12 months. Purple Innovation Inc [NASDAQ: PRPL] shares were valued at $1.92 at the most recent close of the market. An investor can expect a potential return of 108.33% based on the average PRPL price forecast.
Analyzing the PRPL fundamentals
According to Purple Innovation Inc [NASDAQ:PRPL], the company’s sales were 516.18M for trailing twelve months, which represents an 0.56% jump. Gross Profit Margin for this corporation currently stands at 0.34% with Operating Profit Margin at -0.21%, Pretax Profit Margin comes in at -0.22%, and Net Profit Margin reading is -0.22%. To continue investigating profitability, this company’s Return on Assets is posted at -0.3, Equity is -0.72 and Total Capital is -0.39. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.38.
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 1.7933 points at the first support level, and at 1.6667 for the second support level. However, for the 1st resistance point, the stock is sitting at 2.0833, and for the 2nd resistance point, it is at 2.2467.
Purple Innovation Inc [PRPL] reported earnings per share of -$0.15 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.18/share, meaning a difference of $0.03 and a surprise factor of 16.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.18 per share as compared to estimates of -$0.02 per share, a difference of -$0.16 representing a surprise of -800.00%.
Ratios To Look Out For
It is important to note that Purple Innovation Inc [NASDAQ:PRPL] has a current ratio of 1.28. As well, the Quick Ratio is 0.68, while the Cash Ratio is 0.24. Considering the valuation of this stock, the price to sales ratio is 0.40, the price to book ratio is 1.76.
Transactions by insiders
Recent insider trading involved Ulrich George Turner, Principal Accounting Officer, that happened on Mar 22 ’24 when 4000.0 shares were purchased. Director, DICAMILLO GARY T completed a deal on Aug 28 ’23 to buy 10000.0 shares. Meanwhile, Chief Legal Officer McGarvey Casey Kale bought 22300.0 shares on Jun 02 ’23.
