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 $39.00, close to its 52-week high of $41.08.
According to TipRanks.com, Nagel is a top 25 analyst with an average return of 40.6% and a 78.4% success rate. Nagel covers the Consumer Goods sector, focusing on stocks such as Dick’s Sporting Goods, The Lovesac Company, and Lululemon Athletica.
Currently, the analyst consensus on Purple Innovation is a Strong Buy with an average price target of $40.50.
See today’s analyst top recommended stocks >>
Based on Purple Innovation’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $187 million and GAAP net loss of $1.02 million. In comparison, last year the company earned revenue of $117 million and had a net profit of $1.59 million.
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.
