Analysts rate Purple Innovation Inc. (PRPL:NSD) with a Strong Buy rating and a $11 target

STA Research
by: STA Research
Purple stock

Based on the Purple Innovation stock forecast from 2 analysts, the average analyst Purple stock price target is USD 11.25 over the next 12 months. Purple Innovation Inc’s average analyst rating is Strong Buy. Stock Target Advisor’s own stock analysis of PRPL stock forecast is Bearish, which is based on 2 positive signals and 6 negative signals. At the last closing, Purple Innovation stock price was USD 3.89Purple Innovation stock price has changed by +0.49% over the past week, +0.78% over the past month and -82.63% over the last year.


About Purple Innovation Inc. (PRPL:NSD):

Purple Innovation, Inc. designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, weighted blankets, and duvets, as well as pet beds. It markets and sells its products through its e-commerce online channels retail brick-and-mortar wholesale partners, and third-party online retailers, as well as through Purple retail showrooms. The company was founded in 2010 and is headquartered in Lehi, Utah.


Most Recent Analyst Ratings for PRPL’s stock:

Target Raised by Wedbush Outperform USD 3.3 » USD 5 2022-09-20
Maintains KeyBanc Overweight USD 10 » USD 5 2022-09-20
Target Down Oppenheimer Holdings USD 8 2022-08-22
Lowered KeyBanc USD 10 2022-07-19
Target Lowered by Oppenheimer Holdings USD 45 » USD 12 2022-05-13
Target Lowered by KeyBanc Overweight USD 16 » USD 15 2022-03-28
Downgraded by Roth Capital Buy » Neutral USD 10 » USD 6 2022-03-02
Target Lowered by B. Riley USD 9 » USD 6 2022-03-02
Target Down Bank of America Underperform USD 5.5 » USD 4.5 2022-03-02
Target Lowered by UBS Neutral USD 10 » USD 6.5 2022-03-02
Target Lowered by Truist Securities USD 10 » USD 5 2022-03-02
Maintains KeyBanc Overweight USD 22 » USD 16 2022-03-02
Target Lowered by B. Riley USD 12 » USD 9 2022-01-26
Target Lowered by B. Riley USD 14 » USD 12 2022-01-07
Target Lowered by Bank of America Securities Underperform »
Underperform USD 9.5 » USD 7.6 2021-12-14
Target Lowered Wedbush Outperform  USD 20 » USD 10 2021-12-14
Maintains KeyBanc Overweight USD 25 » USD 22 2021-12-14
Target Lowered Truist Securities Hold » Hold USD 12 » USD 10 2021-12-14
Downgrades B. Riley Neutral USD 14 2021-11-10
Target Lowered by Roth Capital Buy USD 34 » USD 18 2021-11-10
Downgraded by Wedbush Buy » Sell USD 37 » USD 20 2021-11-10
Downgraded by Truist Securities Buy » Hold USD 12 2021-11-10
Downgraded by UBS Buy » Neutral USD 32 » USD 15 2021-11-10
Maintains KeyBanc Overweight USD 33 » USD 25 2021-11-10
Downgrades Raymond James Capital Market Perform 2021-11-10


What we like:

Superior risk adjusted returns:

Purple stock has performed well, on a risk adjusted basis, compared to its sector peers (for a hold period of at least 12 months) and is in the top quartile.

Superior Earnings Growth:

Purple stock has shown top quartile earnings growth in the previous 5 years compared to its sector.


What we don’t like:

High volatility:

The total returns for Purple stock are volatile and above median for its sector over the past 5 years. Make sure you have the risk tolerance for investing in such stock.

Overpriced compared to earnings:

Purple stock price is trading high compared to its peers on a price to earning basis and is above the sector median.

Overpriced compared to book value:

PRPL stock price is trading high compared to its peers median on a price to book value basis.

Highly leveraged:

PRPL stock is in the bottom half compared to its sector peers on debt to equity and is highly leveraged. However, do check the stock forecast and look at its sector and management statements. Sometimes this is high because the company is trying to grow aggressively.

Negative cashflow:

PRPL stock had negative total cash flow in the most recent four quarters.

Negative free cash flow:

PRPL stock had negative total free cash flow in the most recent four quarters.



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