Equities Analysts Offer Predictions for PRPL FY2024 Earnings

Purple Innovation, Inc. (NASDAQ:PRPL) – Investment analysts at Wedbush decreased their FY2024 earnings estimates for shares of Purple Innovation in a report issued on Wednesday, January 22nd. Wedbush analyst S. Basham now forecasts that the company will earn ($0.49) per share for the year, down from their prior estimate of ($0.47). The consensus estimate for Purple Innovation’s current full-year earnings is ($0.47) per share. Wedbush also issued estimates for Purple Innovation’s Q4 2024 earnings at ($0.09) EPS.

Purple Innovation Price Performance

Shares of PRPL opened at $1.25 on Friday. 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 market cap of $134.64 million, a P/E ratio of -1.25 and a beta of 2.08. The stock’s 50-day moving average price is $0.92 and its two-hundred day moving average price is $1.02. Purple Innovation has a 1 year low of $0.75 and a 1 year high of $2.33.

Purple Innovation (NASDAQ:PRPL) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $118.60 million for the quarter, compared to analysts’ expectations of $125.64 million. Purple Innovation had a negative net margin of 21.34% and a negative return on equity of 84.67%. During the same period last year, the firm earned ($0.18) earnings per share.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in shares of Purple Innovation by 70.2% during the fourth quarter. SG Americas Securities LLC now owns 35,272 shares of the company’s stock worth $28,000 after purchasing an additional 14,548 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in Purple Innovation by 42.5% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 58,452 shares of the company’s stock worth $58,000 after acquiring an additional 17,425 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in Purple Innovation in the third quarter valued at about $70,000. Renaissance Technologies LLC increased its holdings in shares of Purple Innovation by 316.3% in the second quarter. Renaissance Technologies LLC now owns 71,226 shares of the company’s stock worth $74,000 after acquiring an additional 54,116 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Purple Innovation by 283.1% during the third quarter. Barclays PLC now owns 74,803 shares of the company’s stock worth $74,000 after purchasing an additional 55,275 shares during the period. Institutional investors own 88.41% of the company’s stock.

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.