Across the recent three months, 5 analysts have shared their insights on Purple Innovation PRPL, expressing a variety of opinions spanning from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 0 | 3 | 2 | 0 | 0 |
| Last 30D | 0 | 1 | 1 | 0 | 0 |
| 1M Ago | 0 | 0 | 1 | 0 | 0 |
| 2M Ago | 0 | 2 | 0 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Analysts have recently evaluated Purple Innovation and provided 12-month price targets. The average target is $2.5, accompanied by a high estimate of $5.00 and a low estimate of $1.25. Observing a 8.23% increase, the current average has risen from the previous average price target of $2.31.
Deciphering Analyst Ratings: An In-Depth Analysis
The analysis of recent analyst actions sheds light on the perception of Purple Innovation by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Jeremy Hamblin | Craig-Hallum | Raises | Hold | $2.00 | $1.00 |
| Seth Basham | Wedbush | Raises | Outperform | $2.25 | $1.25 |
| Matt Koranda | Roth MKM | Raises | Neutral | $2.00 | $1.00 |
| Seth Basham | Wedbush | Maintains | Outperform | $1.25 | - |
| Bradley Thomas | Keybanc | Lowers | Overweight | $5.00 | $6.00 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Purple Innovation. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Purple Innovation compared to the broader market.
- Price Targets: Delving into movements, analysts provide estimates for the future value of Purple Innovation's stock. This analysis reveals shifts in analysts' expectations over time.
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Purple Innovation's market standing. Stay informed and make well-considered decisions with our Ratings Table.
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Get to Know Purple Innovation Better
Purple Innovation Inc is a comfort innovation company. The company designs, manufactures and sells a range of comfort technology offerings, including mattresses, a pillow, cushions, sheets, bed platforms, and other products. It sells its products through online channels, traditional wholesale partners and third-party online retailers.
Understanding the Numbers: Purple Innovation's Finances
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Growth: Purple Innovation's revenue growth over a period of 3 months has faced challenges. As of 30 September, 2023, the company experienced a revenue decline of approximately -2.01%. This indicates a decrease in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Consumer Discretionary sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of -25.72%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Purple Innovation's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -23.28%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Purple Innovation's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -9.02%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: With a below-average debt-to-equity ratio of 1.15, Purple Innovation adopts a prudent financial strategy, indicating a balanced approach to debt management.
Understanding the Relevance of Analyst Ratings
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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