Purple Innovation (PRPL) to Release Quarterly Earnings on Tuesday

Purple Innovation (NASDAQ:PRPL) is set to issue its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.15) per share for the quarter. Purple Innovation has set its FY 2024 guidance at EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Purple Innovation (NASDAQ:PRPL) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. The business had revenue of $145.94 million during the quarter, compared to the consensus estimate of $145.43 million. Purple Innovation had a negative net margin of 22.31% and a negative return on equity of 42.60%. On average, analysts expect Purple Innovation to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Purple Innovation Stock Up 1.2 %

PRPL opened at $1.63 on Monday. Purple Innovation has a 12-month low of $0.55 and a 12-month high of $3.78. The company has a quick ratio of 0.68, a current ratio of 1.28 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average price is $1.69 and its 200 day moving average price is $1.24.

Wall Street Analysts Forecast Growth

PRPL has been the topic of a number of research analyst reports. Wedbush increased their target price on Purple Innovation from $1.25 to $2.25 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. KeyCorp decreased their price target on shares of Purple Innovation from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. Roth Mkm reiterated a “buy” rating and set a $2.50 price objective on shares of Purple Innovation in a research note on Thursday, March 21st. Craig Hallum raised their target price on shares of Purple Innovation from $1.00 to $2.00 and gave the stock a “hold” rating in a report on Wednesday, March 13th. Finally, Roth Capital raised Purple Innovation from a “neutral” rating to a “buy” rating in a report on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Purple Innovation presently has a consensus rating of “Moderate Buy” and an average price target of $3.95.

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.