Purple Innovation (PRPL) Gets a Buy Rating from Roth Capital

In a report released yesterday, Roth Capital from Roth Capital maintained a Buy rating on Purple Innovation (PRPL), with a price target of $37.00. The company’s shares closed last Tuesday at $32.30.

Purple Innovation has an analyst consensus of Strong Buy, with a price target consensus of $38.70, implying a 20.1% upside from current levels. In a report issued on May 10, Raymond James also maintained a Buy rating on the stock.

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Purple Innovation’s market cap is currently $2.16B and has a P/E ratio of -320.20. The company has a Price to Book ratio of 37.33.

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.

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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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