Purple Innovation Inc. [PRPL] is 173.25% higher this YTD. Is it still time to buy?

Purple Innovation Inc. [NASDAQ: PRPL] surged by $2.27 during the normal trading session on Tuesday and reaching a high of $23.81 during the day while it closed the day at $23.80.

Purple Innovation Inc. stock has also loss -2.02% of its value over the past 7 days. However, PRPL stock has inclined by 30.77% in the 3 months of the year. Over the past six months meanwhile, it has gained 230.10% and gained 173.25% year-on date.

The market cap for PRPL stock reached $1.73 billion, with 29.28 million shares outstanding and 18.20 million shares in the current float. Compared to the average trading volume of 1.46M shares, PRPL reached a trading volume of 2087148 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $27.63 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 1.70. 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.

ROTH Capital have made an estimate for Purple Innovation Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 03, 2020. While these analysts kept the previous recommendation, B. Riley FBR raised their target price from $23 to $26. The new note on the price target was released on August 14, 2020, representing the official price target for Purple Innovation Inc. stock. Previously, the target price had yet another raise to $30, while Craig Hallum analysts kept a Buy rating on PRPL stock.

The Average True Range (ATR) for Purple Innovation Inc. is set at 1.51, with the Price to Sales ratio for PRPL stock in the period of the last 12 months amounting to 3.26. The Price to Book ratio for the last quarter was 36.62, with the Price to Cash per share for the same quarter was set at 1.32. Price to Free Cash Flow for PRPL in the course of the last twelve months was 22.17 with Quick ratio for the last quarter at 1.10.

PRPL stock trade performance evaluation

Purple Innovation Inc. [PRPL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.02. With this latest performance, PRPL shares gained by 14.31% in over the last four-week period, additionally plugging by 230.10% over the last 6 months – not to mention a rise of 205.13% 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 61.55, with the RSI for the last a single of trading hit 63.59, and the three-weeks RSI is set at 58.77 for Purple Innovation Inc. [PRPL]. The present Moving Average for the last 50 days of trading for this stock 21.35, while it was recorded at 22.55 for the last single week of trading, and 14.18 for the last 200 days.

Purple Innovation Inc. [PRPL]: An insightful look at the core 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 1.10 and a Current Ratio set at 1.50.

Earnings per share (EPS) analysis for Purple Innovation Inc. [PRPL] stock

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 0.02/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 700.00%. 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 42.10%.

Purple Innovation Inc. [PRPL]: Insider Ownership positions

There are presently around $828 million, or 66.70% 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 10,029,975, which is approximately 21.928% of the company’s market cap and around 29.20% of the total institutional ownership; WOODSON CAPITAL MANAGEMENT, LP, holding 2,700,600 shares of the stock with an approximate value of $64.27 million in PRPL stocks shares; and HOOD RIVER CAPITAL MANAGEMENT LLC, currently with $46.34 million in PRPL stock with ownership of nearly 78.038% of the company’s market capitalization.

Positions in Purple Innovation Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 98 institutional holders increased their position in Purple Innovation Inc. [NASDAQ:PRPL] by around 15,433,905 shares. Additionally, 24 investors decreased positions by around 1,411,124 shares, while 5 investors held positions by with 17,957,165 shares. The mentioned changes placed institutional holdings at 34,802,194 shares, according to the latest SEC report filing. PRPL stock had 50 new institutional investments in for a total of 6,327,365 shares, while 10 institutional investors sold positions of 565,366 shares during the same period.

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