Purple Innovation’s (PRPL) Neutral Rating Reiterated at Wedbush

Wedbush restated their neutral rating on shares of Purple Innovation (NASDAQ:PRPL) in a research note published on Wednesday,Benzinga reports. They currently have a $1.00 price objective on the stock. Wedbush also issued estimates for Purple Innovation’s Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.07) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.00 EPS, FY2025 earnings at ($0.23) EPS, FY2026 earnings at ($0.18) EPS and FY2027 earnings at ($0.15) EPS.

Purple Innovation Stock Down 4.0 %

Shares of NASDAQ:PRPL opened at $0.75 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 1.81. The stock has a fifty day simple moving average of $0.94 and a two-hundred day simple moving average of $0.93. Purple Innovation has a 12-month low of $0.65 and a 12-month high of $2.12. The stock has a market capitalization of $80.91 million, a price-to-earnings ratio of -0.75 and a beta of 2.37.

Purple Innovation (NASDAQ:PRPL) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.07. Purple Innovation had a negative net margin of 21.34% and a negative return on equity of 84.67%. The business had revenue of $128.98 million during the quarter, compared to analyst estimates of $129.39 million. On average, research analysts anticipate that Purple Innovation will post -0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Purple Innovation

Hedge funds and other institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC lifted its holdings in Purple Innovation by 219.7% in the fourth quarter. Squarepoint Ops LLC now owns 178,052 shares of the company’s stock valued at $139,000 after acquiring an additional 122,358 shares during the period. Invenomic Capital Management LP bought a new position in shares of Purple Innovation in the 4th quarter worth approximately $620,000. Bank of America Corp DE boosted its holdings in shares of Purple Innovation by 45.1% in the fourth quarter. Bank of America Corp DE now owns 55,984 shares of the company’s stock worth $44,000 after buying an additional 17,406 shares during the last quarter. Barclays PLC grew its position in Purple Innovation by 14.5% during the fourth quarter. Barclays PLC now owns 85,627 shares of the company’s stock valued at $67,000 after buying an additional 10,824 shares during the period. Finally, Townsquare Capital LLC bought a new position in Purple Innovation in the fourth quarter worth approximately $73,000. 88.41% of the stock is owned by institutional investors.

About Purple Innovation

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.