Q4 2022 EPS Estimates for Purple Innovation, Inc. Decreased by Analyst (NASDAQ: PRPL)


Purple Innovation, Inc. (NASDAQ: PRPL – Get Rating) – Investment analysts at Oppenheimer cut their Q4 2022 earnings estimates for shares of Purple Innovation in a report issued on Friday, May 13th. Oppenheimer analyst B. Nagel now expects that the company will post earnings per share of $ 0.12 for the quarter, down from their prior forecast of $ 0.15. Oppenheimer also issued estimates for Purple Innovation’s FY2023 earnings at $ 0.18 EPS.

Purple Innovation (NASDAQ: PRPL – Get Rating) last announced its earnings results on Tuesday, May 10th. The company reported ($ 0.24) EPS for the quarter, beating the consensus estimate of ($ 0.35) by $ 0.11. Purple Innovation had a negative return on equity of 26.47% and a negative net margin of 4.44%. The business had revenue of $ 143.18 million for the quarter, compared to analysts’ expectations of $ 130.12 million. During the same period in the prior year, the business posted $ 0.17 earnings per share. The firm’s revenue was down 23.2% on a year-over-year basis.

PRPL has been the topic of several other reports. B. Riley reduced their target price on Purple Innovation from $ 9.00 to $ 6.00 and set a “neutral” rating on Wednesday, March 2nd. Truist Financial cut their price target on Purple Innovation from $ 10.00 to $ 5.00 and set a “hold” rating on Wednesday, March 2nd. Bank of America cut their price target on Purple Innovation from $ 5.50 to $ 4.50 and set the “underperform” rating on Wednesday, March 2nd. KeyCorp cut their price target on Purple Innovation from $ 16.00 to $ 15.00 and set the “overweight” rating on the stock in a report on Monday, March 28th. Finally, UBS Group cut their price target on Purple Innovation from $ 10.00 to $ 6.50 and set a “neutral” rating on Wednesday, March 2nd. One has been issued rating and three has been issued a rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $ 14.36.

Shares of PRPL stock opened at $ 4.43 on Monday. The business’s 50 days simple moving average is $ 5.68 and its 200 days simple moving average is $ 8.94. Purple Innovation has a one year low of $ 2.99 and a one year high of $ 33.22. The stock has a market capitalization of $ 296.67 million, a PE ratio of -6.61 and a beta of 1.74. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.62 and a quick ratio of 0.92.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management SA purchased a new stake in Purple Innovation in the 4th quarter valued at $ 2,362,000. Wasatch Advisors Inc. raised its position in Purple Innovation by 29.0% in the 3rd quarter. Wasatch Advisors Inc. now owns 7,233,644 shares of the company stock valued at $ 152,051,000 after buying an additional 1,627,651 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in Purple Innovation in the 3rd quarter valued at $ 3,784,000. Stony Point Capital LLC raised its position in Purple Innovation by 87.0% in the 3rd quarter. Stony Point Capital LLC now owns 503,277 shares of the company stock valued at $ 10,579,000 after purchasing an additional 234,113 shares during the last quarter. Finally, Putnam Investments LLC raised its position in Purple Innovation by 3.0% in the 3rd quarter. Putnam Investments LLC now owns 114,393 shares of the company stock valued at $ 2,405,000 after buying an additional 3,300 shares during the last quarter.

In other news, Director Coliseum Capital Management, L bought 650,000 shares of the stock in a transaction dated Wednesday, March 30th. The shares were bought at an average cost of $ 6.47 per share, with a total value of $ 4,205,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 3,907,545 shares of company stock worth $ 27,392,550 over the last ninety days. 24.92% of the stock is owned by insiders.

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 retail stores, and third-party online retailers, as well as through Purple retail showrooms.

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Earnings History and Estimates for Purple Innovation (NASDAQ: PRPL)



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