Purple Innovation Inc. [NASDAQ: PRPL] stock went on an upward path that rose over 4.39% on Tuesday, amounting to a one-week price increase of more than 6.32%. Over the last 12 months, PRPL stock rose by 160.75%. The one-year Purple Innovation Inc. stock forecast points to a potential upside of 6.77. The average equity rating for PRPL stock is currently 1.40, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $929.08 million, with 22.68 million shares outstanding and 21.63 million shares in the current float. Compared to the average trading volume of 648.37K shares, PRPL stock reached a trading volume of 2096506 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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Guru’s Opinion on Purple Innovation Inc. [PRPL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PRPL shares is $18.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PRPL stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
B. Riley FBR have made an estimate for Purple Innovation Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 16, 2020. While these analysts kept the previous recommendation, BofA/Merrill raised their target price to Buy. The new note on the price target was released on December 19, 2019, representing the official price target for Purple Innovation Inc. stock. Previously, the target price had yet another raise to $11, while Raymond James analysts kept a Outperform rating on PRPL stock.
The Average True Range (ATR) for Purple Innovation Inc. is set at 1.23, with the Price to Sales ratio for PRPL stock in the period of the last 12 months amounting to 1.99. The Price to Book ratio for the last quarter was 61.93, with the Price to Cash per share for the same quarter was set at 0.49. Price to Free Cash Flow for PRPL in the course of the last twelve months was 54.97 with Quick ratio for the last quarter at 0.80.
PRPL Stock Performance Analysis:
Purple Innovation Inc. [PRPL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.32. With this latest performance, PRPL shares gained by 34.00% in over the last four-week period, additionally plugging by 128.76% over the last 6 months – not to mention a rise of 160.75% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PRPL stock in for the last two-week period is set at 72.39, with the RSI for the last a single of trading hit 74.56, and the three-weeks RSI is set at 69.47 for Purple Innovation Inc. [PRPL]. The present Moving Average for the last 50 days of trading for this stock 11.96, while it was recorded at 16.06 for the last single week of trading, and 9.85 for the last 200 days.
Insight into Purple Innovation Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Purple Innovation Inc. [PRPL] shares currently have an operating margin of +3.79 and a Gross Margin at +44.12. Purple Innovation Inc.’s Net Margin is presently recorded at -0.94.
Return on Total Capital for PRPL is now 64.00, given the latest momentum, and Return on Invested Capital for the company is -14.84. Additionally, PRPL Total Debt to Total Capital is recorded at 107.02, with Total Debt to Total Assets ending up at 24.29.
Reflecting on the efficiency of the workforce at the company, Purple Innovation Inc. [PRPL] managed to generate an average of -$3,781 per employee. Receivables Turnover for the company is 22.00 with a Total Asset Turnover recorded at a value of 3.90.Purple Innovation Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.40.
PRPL Stock EPS
With the latest financial reports released by the company, Purple Innovation Inc. posted -0.16/share EPS, while the average EPS was predicted by analysts to be reported at -0.27/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 40.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PRPL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Purple Innovation Inc. go to 16.40%.
Purple Innovation Inc. [PRPL] Insider Position Details
There are presently around $346 million, or 89.00% of PRPL stock, in the hands of institutional investors. The top three institutional holders of PRPL stocks are: COLISEUM CAPITAL MANAGEMENT, LLC with ownership of 8,226,149, which is approximately 0% of the company’s market cap and around 7.90% of the total institutional ownership; WOODSON CAPITAL MANAGEMENT, LP, holding 2,335,600 shares of the stock with an approximate value of $38.79 million in PRPL stocks shares; and HOOD RIVER CAPITAL MANAGEMENT LLC, currently with $18.16 million in PRPL stock with ownership of nearly -1.827% of the company’s market capitalization.
Positions in Purple Innovation Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 55 institutional holders increased their position in Purple Innovation Inc. [NASDAQ:PRPL] by around 6,190,346 shares. Additionally, 26 investors decreased positions by around 2,629,543 shares, while 7 investors held positions by with 11,989,253 shares. The mentioned changes placed institutional holdings at 20,809,142 shares, according to the latest SEC report filing. PRPL stock had 28 new institutional investments in for a total of 3,283,602 shares, while 10 institutional investors sold positions of 782,580 shares during the same period.