What is Roth Capital’s Estimate for PRPL FY2024 Earnings?

Purple Innovation, Inc. (NASDAQ:PRPL) – Stock analysts at Roth Capital decreased their FY2024 earnings per share estimates for shares of Purple Innovation in a research note issued 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 prior 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) last posted its earnings results on Monday, November 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping 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 company had revenue of $118.60 million during the quarter, compared to analysts’ expectations of $125.64 million. During the same quarter last year, the company posted ($0.18) EPS.

Several other research firms also recently issued reports on PRPL. Craig Hallum reduced their price target on Purple Innovation from $2.00 to $1.50 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Wedbush cut shares of Purple Innovation from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $1.75 to $1.10 in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2.53.

Purple Innovation Trading Up 3.1 %

Shares of PRPL stock opened at $0.85 on Thursday. Purple Innovation has a 12-month low of $0.55 and a 12-month high of $2.33. The company has a market capitalization of $91.86 million, a PE ratio of -0.85 and a beta of 2.08. The firm has a 50 day moving average price of $0.98 and a two-hundred day moving average price of $1.16. The company has a quick ratio of 0.67, a current ratio of 1.43 and a debt-to-equity ratio of 0.69.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PRPL. Price T Rowe Associates Inc. MD grew its stake 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 in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Purple Innovation by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,903,799 shares of the company’s stock worth $5,053,000 after acquiring an additional 20,189 shares during the period. BNP Paribas Financial Markets boosted its position 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 acquiring an additional 11,405 shares in the last quarter. Virtu Financial LLC bought a new position in Purple Innovation in the first quarter valued at approximately $112,000. Finally, Divisadero Street Capital Management LP acquired a new position in Purple Innovation during the second quarter valued at approximately $144,000. Institutional investors own 88.41% of the company’s stock.

About Purple Innovation

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.