Purple Innovation (NASDAQ:PRPL) Announces Earnings Results

Purple Innovation (NASDAQ:PRPL) announced its quarterly earnings data on Tuesday. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01, Zacks reports. Purple Innovation had a negative return on equity of 2,029.13% and a negative net margin of 12.40%.The firm had revenue of $118.77 million during the quarter, compared to analyst estimates of $123.21 million. Purple Innovation updated its FY 2025 guidance to EPS.

Purple Innovation Stock Down 5.0%

Shares of PRPL stock opened at $0.68 on Thursday. The stock’s 50 day simple moving average is $0.96 and its 200 day simple moving average is $0.86. The company has a debt-to-equity ratio of 54.69, a quick ratio of 0.77 and a current ratio of 1.49. Purple Innovation has a twelve month low of $0.56 and a twelve month high of $1.29. The company has a market capitalization of $74.15 million, a price-to-earnings ratio of -1.32 and a beta of 1.78.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its stake in shares of Purple Innovation by 45.1% in the 4th quarter. Bank of America Corp DE now owns 55,984 shares of the company’s stock valued at $44,000 after acquiring an additional 17,406 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Purple Innovation in the 1st quarter valued at approximately $28,000. XTX Topco Ltd bought a new position in shares of Purple Innovation in the 2nd quarter valued at approximately $30,000. Qube Research & Technologies Ltd bought a new position in shares of Purple Innovation in the 2nd quarter valued at approximately $63,000. Finally, Marshall Wace LLP bought a new position in shares of Purple Innovation in the 2nd quarter valued at approximately $128,000. 88.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PRPL. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Purple Innovation in a research note on Wednesday, October 8th. Wall Street Zen raised Purple Innovation from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Purple Innovation presently has an average rating of “Reduce” and a consensus price target of $1.00.

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.