Do futuristic bulls still own Purple Innovation Inc [PRPL] stock?

Purple Innovation Inc (NASDAQ:PRPL) shares traded -31.15% lower at $0.56 on Wall Street last session.

In accordance with the data, 8 analysts cover Purple Innovation Inc (NASDAQ:PRPL). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $8.00 and a low of $0.80, we find $1.00. Given the previous closing price of $0.82, this indicates a potential upside of 21.95 percent. PRPL stock price is now -63.64% away from the 50-day moving average and -79.88% away from the 200-day moving average. The market capitalization of the company currently stands at $59.39M.

It has been rated a hold by 5 analysts and a buy by 3. Brokers who have rated the stock have averaged $2.97 as their price target over the next twelve months.

With the price target enhanced from $4 to $6, Craig Hallum Upgraded its rating from Hold to Buy for Purple Innovation Inc (NASDAQ: PRPL).

In other news, DICAMILLO GARY T, Director bought 10,000 shares of the company’s stock on Aug 28. The stock was bought for $22,182 at an average price of $2.22. Upon completion of the transaction, the Director now directly owns 158,478 shares in the company, valued at $88747.68. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 02, Chief Legal Officer McGarvey Casey Kale bought 22,300 shares of the business’s stock. A total of $63,553 was incurred on buying the stock at an average price of $2.85. This leaves the insider owning 108,436 shares of the company worth $60724.16. Insiders disposed of 477,032 shares of company stock worth roughly $0.27 million over the past 1 year. A total of 6.20% of the company’s stock is owned by insiders.

Purple Innovation Inc (NASDAQ: PRPL) opened at $0.6900 on Friday. During the past 12 months, Purple Innovation Inc has had a low of $0.80 and a high of $6.76. As of last week, the company has a debt-to-equity ratio of 1.14, a current ratio of 1.39, and a quick ratio of 0.69. The fifty day moving average price for PRPL is $1.5187 and a two-hundred day moving average price translates $2.7783 for the stock.

The latest earnings results from Purple Innovation Inc (NASDAQ: PRPL) was released for Sep, 2023. According to the Furnishings, Fixtures & Appliances Company, earnings per share came in at -$0.2, missing analysts’ expectations of -$0.11 by -0.09. This compares to -$0.10 EPS in the same period last year. The net profit margin was -32.42% and return on equity was -87.91% for PRPL. The company reported revenue of $120.87 million for the quarter, compared to $144.11 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -16.12 percent. For the current quarter, analysts expect PRPL to generate $158.47M in revenue.

Purple Innovation Inc(PRPL) Company Profile

Purple Innovation, Inc. designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, 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. The company was founded in 2010 and is headquartered in Lehi, Utah.

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