Craig-Hallum analyst Jeremy Hamblin maintained a Hold rating on Purple Innovation (PRPL – Research Report) today. The company’s shares closed yesterday at $0.84.
Hamblin covers the Consumer Cyclical sector, focusing on stocks such as Potbelly, Arhaus, and Carrols Restaurant Group. According to TipRanks, Hamblin has an average return of 0.7% and a 49.50% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Purple Innovation with a $2.67 average price target.
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Based on Purple Innovation’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $140 million and a GAAP net loss of $36 million. In comparison, last year the company earned a revenue of $142.87 million and had a net profit of $1.96 million
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Purple Innovation (PRPL) Company Description:
Purple Innovation, Inc. engages in the design and manufacture of mattresses, cushions, pillows, and other comfort products. The firm uses Hyper-Elastic Polymer technology. Its products include mattresses, new purple mattress, original purple mattress, bed pillows, seat cushions, mattress protector, and bamboo sheets. The company was founded by Terry V. Pearce and Tony M. Pearce in 2010 and is headquartered in Alpine, Utah.
Read More on PRPL:
- Purple Innovation downgraded to Hold from Buy at Craig-Hallum
- Purple Innovation price target lowered to $1 from $3 at Wedbush
- Purple Innovation price target lowered to $6 from $8 at KeyBanc
- Purple Innovation now sees FY23 revenue $510M-$520M, consensus $562.58M
- Purple Innovation reports Q3 adjusted EPS (18c), consensus (2c)
