Purple Innovation (PRPL) Releases Earnings Results, Beats Estimates By $0.02 EPS

Purple Innovation (NASDAQ:PRPL) posted its quarterly earnings data on Tuesday. The company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.02, Morningstar.com reports. Purple Innovation had a negative net margin of 1.39% and a negative return on equity of 43.91%. The company had revenue of $78.46 million during the quarter, compared to the consensus estimate of $77.10 million.

Shares of NASDAQ:PRPL opened at $5.50 on Thursday. The company has a debt-to-equity ratio of 6.41, a current ratio of 1.10 and a quick ratio of 0.43. Purple Innovation has a 1 year low of $4.45 and a 1 year high of $13.90. The stock has a market cap of $303.98 million, a PE ratio of -10.78 and a beta of -0.26.

Several large investors have recently modified their holdings of PRPL. BlackRock Inc. purchased a new stake in shares of Purple Innovation during the 2nd quarter worth about $1,941,000. Northern Trust Corp purchased a new stake in shares of Purple Innovation during the 2nd quarter worth about $328,000. Cpwm LLC purchased a new stake in shares of Purple Innovation during the 3rd quarter worth about $116,000. LPL Financial LLC grew its holdings in shares of Purple Innovation by 347.2% during the 3rd quarter. LPL Financial LLC now owns 56,800 shares of the company’s stock worth $329,000 after purchasing an additional 44,100 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Purple Innovation by 112.0% during the 3rd quarter. Vanguard Group Inc. now owns 41,721 shares of the company’s stock worth $242,000 after purchasing an additional 22,043 shares during the period. Institutional investors and hedge funds own 13.00% of the company’s stock.



A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Purple Innovation from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research note on Thursday. Wedbush reiterated an “outperform” rating and set a $6.50 target price on shares of Purple Innovation in a report on Wednesday.

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Purple Innovation Company Profile

Purple Innovation, Inc engages in the design and manufacture of products to improve how people sleep, sit, and stand. It offers mattresses, cushions, pillows, and other comfort products using its proprietary Hyper-Elastic Polymer technology. The company was founded by Terry V. Pearce and Tony M. Pearce in 2010 and is headquartered in Alpine, Utah.

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Earnings History for Purple Innovation (NASDAQ:PRPL)

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