FY2024 EPS Estimate for Purple Innovation Lowered by Analyst

Purple Innovation, Inc. (NASDAQ:PRPL) – Investment analysts at Wedbush reduced their FY2024 earnings estimates for shares of Purple Innovation in a note issued to investors 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 forecast 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 (NASDAQ:PRPL) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. Purple Innovation had a negative return on equity of 84.67% and a negative net margin of 21.34%. The firm had revenue of $118.60 million during the quarter, compared to the consensus estimate of $125.64 million. During the same period in the prior year, the business posted ($0.18) earnings per share.

Purple Innovation Trading Up 4.2 %

NASDAQ 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 firm has a market capitalization of $134.64 million, a P/E ratio of -1.25 and a beta of 2.08. The business has a fifty day simple moving average of $0.92 and a 200 day simple moving average of $1.02. Purple Innovation has a 12 month low of $0.75 and a 12 month high of $2.33.

Institutional Trading of Purple Innovation

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in Purple Innovation by 316.3% in the 2nd quarter. Renaissance Technologies LLC now owns 71,226 shares of the company’s stock worth $74,000 after purchasing an additional 54,116 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of 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 valued at $58,000 after acquiring an additional 17,425 shares during the last quarter. Crumly & Associates Inc. lifted its holdings in Purple Innovation by 22.5% during the third quarter. Crumly & Associates Inc. now owns 81,763 shares of the company’s stock worth $81,000 after acquiring an additional 15,000 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Purple Innovation by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 458,627 shares of the company’s stock worth $453,000 after purchasing an additional 17,056 shares during the last quarter. Finally, Wasatch Advisors LP grew its stake in Purple Innovation by 25.0% in the 3rd quarter. Wasatch Advisors LP now owns 2,800,109 shares of the company’s stock valued at $2,768,000 after purchasing an additional 560,407 shares during the period. Hedge funds and other 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.