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Shares of Purple Innovation, Inc. (NASDAQ:PRPL - Get Rating) have earned an average recommendation of "Hold" from the twelve analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $13.33.

PRPL has been the topic of a number of recent research reports. B. Riley cut their target price on shares of Purple Innovation from $9.00 to $6.00 and set a "neutral" rating on the stock in a report on Wednesday, March 2nd. Bank of America cut their price target on Purple Innovation from $5.50 to $4.50 and set an "underperform" rating on the stock in a report on Wednesday, March 2nd. UBS Group cut their price target on Purple Innovation from $10.00 to $6.50 and set a "neutral" rating on the stock in a report on Wednesday, March 2nd. Zacks Investment Research raised Purple Innovation from a "strong sell" rating to a "hold" rating in a report on Thursday. Finally, Roth Capital cut Purple Innovation from a "buy" rating to a "neutral" rating and cut their price target for the company from $10.00 to $6.00 in a report on Wednesday, March 2nd.

In related news, Director Coliseum Capital Management, L acquired 1,460,000 shares of the stock in a transaction that occurred on Monday, March 7th. The shares were acquired at an average price of $6.98 per share, for a total transaction of $10,190,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased 3,907,545 shares of company stock worth $27,392,550 in the last quarter. Company insiders own 35.04% of the company's stock.

A number of institutional investors have recently bought and sold shares of PRPL. Strs Ohio acquired a new position in Purple Innovation in the 1st quarter worth approximately $50,000. Kestra Advisory Services LLC acquired a new position in Purple Innovation in the 1st quarter worth approximately $68,000. Royal Bank of Canada boosted its stake in Purple Innovation by 63.5% in the 2nd quarter. Royal Bank of Canada now owns 3,478 shares of the company's stock worth $92,000 after purchasing an additional 1,351 shares during the period. Macquarie Group Ltd. boosted its stake in Purple Innovation by 97.9% in the 3rd quarter. Macquarie Group Ltd. now owns 4,429 shares of the company's stock worth $93,000 after purchasing an additional 2,191 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Purple Innovation by 56.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,036 shares of the company's stock worth $107,000 after purchasing an additional 2,885 shares during the period.

Shares of NASDAQ PRPL opened at $4.10 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.62 and a debt-to-equity ratio of 0.64. The firm's 50-day moving average price is $5.80 and its two-hundred day moving average price is $9.30. Purple Innovation has a 52-week low of $2.99 and a 52-week high of $33.22. The stock has a market capitalization of $274.57 million, a P/E ratio of -13.67 and a beta of 1.74.

Purple Innovation (NASDAQ:PRPL - Get Rating) last issued its earnings results on Tuesday, May 10th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.11. Purple Innovation had a net margin of 0.56% and a negative return on equity of 8.41%. The firm had revenue of $143.18 million for the quarter, compared to analysts' expectations of $130.12 million. During the same quarter last year, the company posted $0.17 earnings per share. Purple Innovation's revenue was down 23.2% on a year-over-year basis. As a group, equities research analysts expect that Purple Innovation will post -0.12 earnings per share for the current year.

Purple Innovation Company Profile (Get Rating)

Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, weighted blankets, and duvets, as well as pet beds. It markets and sells its products through its e-commerce online channels retail brick-and-mortar wholesale partners, and third-party online retailers, as well as through Purple retail showrooms.

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