Wedbush Weighs in on Purple Innovation’s Q2 2018 Earnings (PRPL)

Purple Innovation (NASDAQ:PRPL) – Analysts at Wedbush dropped their Q2 2018 EPS estimates for Purple Innovation in a research report issued on Wednesday, May 16th. Wedbush analyst S. Basham now expects that the company will post earnings of ($0.06) per share for the quarter, down from their previous forecast of $0.02. Wedbush currently has a “Outperform” rating and a $11.00 target price on the stock. Wedbush also issued estimates for Purple Innovation’s Q3 2018 earnings at ($0.03) EPS, Q4 2018 earnings at ($0.01) EPS, FY2018 earnings at ($0.12) EPS, Q2 2019 earnings at ($0.01) EPS, Q3 2019 earnings at $0.00 EPS, Q4 2019 earnings at $0.00 EPS, FY2019 earnings at ($0.03) EPS and FY2020 earnings at $0.11 EPS.

Shares of NASDAQ:PRPL opened at $6.60 on Friday. Purple Innovation has a 1-year low of $7.40 and a 1-year high of $8.90. The company has a quick ratio of 0.13, a current ratio of 1.42 and a debt-to-equity ratio of 1.36.

A hedge fund recently bought a new stake in Purple Innovation stock. Millennium Management LLC bought a new position in shares of Purple Innovation (NASDAQ:PRPL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,025 shares of the company’s stock, valued at approximately $100,000. Millennium Management LLC owned 0.08% of Purple Innovation as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 67.17% of the company’s stock.

About Purple Innovation

Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. The company markets and sells its products through direct-to-consumer and retail channels. Purple Innovation, Inc was founded in 2010 and is headquartered in Alpine, Utah.

Earnings History and Estimates for Purple Innovation (NASDAQ:PRPL)

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