Roth Capital Expects Reduced Earnings for Purple Innovation

by · The Markets Daily

Purple Innovation, Inc. (NASDAQ:PRPL – Free Report) – Roth Capital decreased their FY2024 EPS estimates for shares of Purple Innovation in a research note issued to investors on Monday, November 4th. Roth Capital analyst M. Koranda now forecasts that the company will earn ($0.51) per share for the year, down from their previous estimate of ($0.41). The consensus estimate for Purple Innovation’s current full-year earnings is ($0.48) per share. Roth Capital also issued estimates for Purple Innovation’s Q4 2024 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.07) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.31) EPS and FY2026 earnings at ($0.22) EPS.

Purple Innovation (NASDAQ:PRPL – Get Free Report) last posted its earnings results 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. Purple Innovation had a negative net margin of 21.34% and a negative return on equity of 70.68%. The business had revenue of $118.60 million for the quarter, compared to analyst estimates of $125.64 million. During the same period last year, the business posted ($0.18) EPS.

PRPL has been the topic of a number of other reports. Craig Hallum decreased their price target on Purple Innovation from $2.00 to $1.50 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Wedbush lowered shares of Purple Innovation from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $1.75 to $1.10 in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2.53.

Get Our Latest Stock Analysis on Purple Innovation

Purple Innovation Stock Up 3.1 %

PRPL opened at $0.85 on Thursday. Purple Innovation has a fifty-two week low of $0.55 and a fifty-two week high of $2.33. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.43 and a quick ratio of 0.67. The firm’s fifty day moving average price is $0.98 and its two-hundred day moving average price is $1.16. The company has a market capitalization of $91.86 million, a P/E ratio of -0.85 and a beta of 2.08.

Institutional Investors Weigh In On Purple Innovation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Purple Innovation in the second quarter valued at about $43,000. BNP Paribas Financial Markets raised its stake in shares of Purple Innovation by 73.7% during the 1st quarter. BNP Paribas Financial Markets now owns 26,879 shares of the company’s stock worth $47,000 after purchasing an additional 11,405 shares in the last quarter. Crumly & Associates Inc. boosted its holdings in shares of Purple Innovation by 35.5% in the 2nd quarter. Crumly & Associates Inc. now owns 66,763 shares of the company’s stock valued at $69,000 after buying an additional 17,500 shares during the last quarter. Renaissance Technologies LLC grew its stake 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 valued at $74,000 after buying an additional 54,116 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Purple Innovation by 51.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 60,009 shares of the company’s stock worth $105,000 after buying an additional 20,400 shares during the last quarter. 88.41% of the stock is owned by institutional investors.

About Purple Innovation

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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.

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