Purple Innovation Inc. [PRPL] stock Reiterated by B. Riley Securities analyst, price target now $33

Purple Innovation Inc. [NASDAQ: PRPL] closed the trading session at $27.28 on 11/09/20. The day’s price range saw the stock hit a low of $26.50, while the highest price level was $31.72. The company report on November 5, 2020 that Purple Updates Timing of Third Quarter 2020 Earnings Report.

Purple Innovation, Inc. (NASDAQ: PRPL) (“Purple”), the leader in comfort innovation and the creator of the renowned Purple® Mattress, announced that in accordance with the Securities and Exchange Commission’s observance of Veterans Day, the Company now plans to report third quarter 2020 financial results on Tuesday, November 10, 2020, at approximately 5:00 pm ET. The Company still plans to hold a conference call to review its financial results on Wednesday, November 11, 2020 at 8:30 a.m. ET.

Investors and analysts interested in participating in the call are invited to dial (877) 425-9470 (domestic) or (201) 389-0878 (international) at 8:25 a.m. ET on Wednesday, November 11, 2020 and provide the Conference ID: 13712736. The conference call will also be available to interested parties through a live webcast at investors.purple.com. Please visit the website at least 15 minutes prior to the start of the call to register and download any necessary software.

The stocks have a year to date performance of 213.20 percent and weekly performance of -5.31 percent. The stock has been moved at 99.42 percent over the last six months. The stock has performed -5.80 percent around the most recent 30 days and changed 14.19 percent over the most recent 3-months.

If compared to the average trading volume of 1.40M shares, PRPL reached to a volume of 3040959 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 $33.00 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 1.60. 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 Securities have made an estimate for Purple Innovation Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 14, 2020. While these analysts kept the previous recommendation, UBS raised their target price to Buy. The new note on the price target was released on October 13, 2020, representing the official price target for Purple Innovation Inc. stock. Previously, the target price had yet another raise from $25 to $37, while Oppenheimer kept a Outperform rating on PRPL stock.

The Average True Range (ATR) for Purple Innovation Inc. is set at 1.94, with the Price to Sales ratio for PRPL stock in the period of the last 12 months amounting to 3.00. The Price to Book ratio for the last quarter was 41.97, with the Price to Cash per share for the same quarter was set at 1.64. Price to Free Cash Flow for PRPL in the course of the last twelve months was 20.44 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 -5.31. With this latest performance, PRPL shares dropped by -5.80% in over the last four-week period, additionally plugging by 99.42% over the last 6 months – not to mention a rise of 208.60% 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 43.40, with the RSI for the last a single of trading hit 37.16, and the three-weeks RSI is set at 48.68 for Purple Innovation Inc. [PRPL]. The present Moving Average for the last 50 days of trading for this stock 26.01, while it was recorded at 29.41 for the last single week of trading, and 17.41 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 $979 million, or 66.90% 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 3.20% of the total institutional ownership; WOODSON CAPITAL MANAGEMENT, LP, holding 2,700,600 shares of the stock with an approximate value of $73.67 million in PRPL stocks shares; and HOOD RIVER CAPITAL MANAGEMENT LLC, currently with $53.11 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 100 institutional holders increased their position in Purple Innovation Inc. [NASDAQ:PRPL] by around 14,741,070 shares. Additionally, 33 investors decreased positions by around 1,658,331 shares, while 6 investors held positions by with 19,497,010 shares. The mentioned changes placed institutional holdings at 35,896,411 shares, according to the latest SEC report filing. PRPL stock had 52 new institutional investments in for a total of 6,256,008 shares, while 14 institutional investors sold positions of 694,345 shares during the same period.

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