Roth Capital Predicts Lower Earnings for Purple Innovation

Purple Innovation, Inc. (NASDAQ:PRPL) – Stock analysts at Roth Capital decreased their FY2024 EPS estimates for shares of Purple Innovation in a note issued to investors on Monday, November 4th. Roth Capital analyst M. Koranda now expects that the company will earn ($0.51) per share for the year, down from their prior forecast of ($0.41). The consensus estimate for Purple Innovation’s current full-year earnings is ($0.48) per share. Roth Capital also issued estimates for Purple Innovation’s Q4 2024 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.07) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.31) EPS and FY2026 earnings at ($0.22) EPS.

Several other research firms have also issued reports on PRPL. Wedbush lowered shares of Purple Innovation from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $1.75 to $1.10 in a research report on Wednesday, September 4th. Craig Hallum dropped their target price on shares of Purple Innovation from $2.00 to $1.50 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Purple Innovation currently has an average rating of “Moderate Buy” and a consensus price target of $2.53.

Purple Innovation Trading Up 2.8 %

NASDAQ PRPL opened at $0.84 on Thursday. Purple Innovation has a 12 month low of $0.55 and a 12 month high of $2.33. The company has a current ratio of 1.43, a quick ratio of 0.67 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average of $0.97 and a 200-day moving average of $1.15. The company has a market cap of $89.95 million, a PE ratio of -0.84 and a beta of 2.08.

Purple Innovation (NASDAQ:PRPL) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02. The firm had revenue of $118.60 million during the quarter, compared to analysts’ expectations of $125.64 million. Purple Innovation had a negative return on equity of 70.68% and a negative net margin of 21.34%. During the same period in the prior year, the firm posted ($0.18) earnings per share.

Hedge Funds Weigh In On Purple Innovation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRPL. BNP Paribas Financial Markets boosted its holdings in shares of Purple Innovation by 73.7% during the first quarter. BNP Paribas Financial Markets now owns 26,879 shares of the company’s stock worth $47,000 after acquiring an additional 11,405 shares during the period. Crumly & Associates Inc. lifted its holdings in Purple Innovation by 22.5% during the 3rd quarter. Crumly & Associates Inc. now owns 81,763 shares of the company’s stock worth $81,000 after purchasing an additional 15,000 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in Purple Innovation by 42.5% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 58,452 shares of the company’s stock valued at $58,000 after purchasing an additional 17,425 shares during the period. Vanguard Group Inc. grew its holdings in Purple Innovation by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,903,799 shares of the company’s stock valued at $5,053,000 after buying an additional 20,189 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Purple Innovation by 51.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 60,009 shares of the company’s stock worth $105,000 after buying an additional 20,400 shares during the period. 88.41% of the stock is owned by institutional investors.

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.