Oppenheimer Gives a Buy Rating to Purple Innovation (PRPL)

In a report released today, Brian Nagel from Oppenheimer assigned a Buy rating to Purple Innovation (PRPL), with a price target of $45.00. The company’s shares closed last Monday at $28.66.

According to TipRanks.com, Nagel is a top 25 analyst with an average return of 36.9% and a 77.7% success rate. Nagel covers the Consumer Goods sector, focusing on stocks such as Dick’s Sporting Goods, Lululemon Athletica, and The Lovesac Company.

Currently, the analyst consensus on Purple Innovation is a Strong Buy with an average price target of $37.33.

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The company has a one-year high of $41.08 and a one-year low of $11.24. Currently, Purple Innovation has an average volume of 1.11M.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PRPL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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