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Purple Innovation (NASDAQ:PRPL - Get Rating) had its price target reduced by investment analysts at Oppenheimer from $45.00 to $12.00 in a note issued to investors on Friday, The Fly reports. Oppenheimer's price objective indicates a potential upside of 192.68% from the stock's previous close.

A number of other research analysts have also weighed in on PRPL. Bank of America cut their target price on shares of Purple Innovation from $5.50 to $4.50 and set an "underperform" rating for the company in a report on Wednesday, March 2nd. Zacks Investment Research raised shares of Purple Innovation from a "strong sell" rating to a "hold" rating in a report on Thursday. Roth Capital lowered shares of Purple Innovation from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $10.00 to $6.00 in a research note on Wednesday, March 2nd. KeyCorp dropped their price objective on shares of Purple Innovation from $16.00 to $15.00 and set an "overweight" rating for the company in a research note on Monday, March 28th. Finally, UBS Group dropped their price objective on shares of Purple Innovation from $10.00 to $6.50 and set a "neutral" rating for the company in a research note on Wednesday, March 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Purple Innovation presently has a consensus rating of "Hold" and a consensus price target of $14.36.

PRPL stock opened at $4.10 on Friday. The firm has a fifty day moving average price of $5.73 and a 200 day moving average price of $9.19. Purple Innovation has a fifty-two week low of $2.99 and a fifty-two week high of $33.22. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.62. The firm has a market cap of $274.58 million, a PE ratio of -6.12 and a beta of 1.74.

Purple Innovation (NASDAQ:PRPL - Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.35) by $0.11. Purple Innovation had a negative net margin of 4.44% and a negative return on equity of 26.47%. The firm had revenue of $143.18 million during the quarter, compared to analyst estimates of $130.12 million. During the same period last year, the firm posted $0.17 earnings per share. Purple Innovation's revenue for the quarter was down 23.2% compared to the same quarter last year. On average, equities analysts predict that Purple Innovation will post -0.12 EPS for the current year.

In other Purple Innovation news, Director Coliseum Capital Management, L bought 650,000 shares of the firm's stock in a transaction dated Wednesday, March 30th. The stock was acquired at an average cost of $6.47 per share, for a total transaction of $4,205,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have bought 3,907,545 shares of company stock valued at $27,392,550. Corporate insiders own 24.92% of the company's stock.

Several hedge funds have recently added to or reduced their stakes in PRPL. Coliseum Capital Management LLC raised its holdings in shares of Purple Innovation by 104.0% in the fourth quarter. Coliseum Capital Management LLC now owns 16,805,253 shares of the company's stock valued at $223,006,000 after acquiring an additional 8,566,341 shares in the last quarter. Van Berkom & Associates Inc. raised its holdings in shares of Purple Innovation by 273.8% in the fourth quarter. Van Berkom & Associates Inc. now owns 4,858,349 shares of the company's stock valued at $64,470,000 after acquiring an additional 3,558,670 shares in the last quarter. Schwartz Investment Counsel Inc. bought a new stake in shares of Purple Innovation in the fourth quarter valued at about $45,065,000. ArrowMark Colorado Holdings LLC raised its holdings in shares of Purple Innovation by 311.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,495,867 shares of the company's stock valued at $73,483,000 after acquiring an additional 2,645,735 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Purple Innovation by 726.0% in the fourth quarter. Bank of America Corp DE now owns 2,126,874 shares of the company's stock valued at $28,224,000 after acquiring an additional 1,869,377 shares in the last quarter.

About Purple Innovation (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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