Purple Innovation (NASDAQ:PRPL) Releases Earnings Results, Beats Estimates By $0.07 EPS

Purple Innovation (NASDAQ:PRPL) issued its earnings results on Thursday. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.07, Zacks reports. Purple Innovation had a negative return on equity of 84.67% and a negative net margin of 21.34%. The company had revenue of $128.98 million for the quarter, compared to analysts’ expectations of $129.39 million. Purple Innovation updated its FY 2025 guidance to EPS.

Purple Innovation Price Performance

Shares of PRPL opened at $0.90 on Friday. The stock has a market cap of $96.93 million, a P/E ratio of -0.90 and a beta of 2.37. The business’s fifty day moving average is $0.95 and its 200 day moving average is $0.95. Purple Innovation has a 12-month low of $0.65 and a 12-month high of $2.12. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 1.81.

Institutional Investors Weigh In On Purple Innovation

A hedge fund recently raised its stake in Purple Innovation stock. Bank of America Corp DE boosted its stake in Purple Innovation, Inc. (NASDAQ:PRPL) by 45.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,984 shares of the company’s stock after buying an additional 17,406 shares during the quarter. Bank of America Corp DE owned approximately 0.05% of Purple Innovation worth $44,000 as of its most recent SEC filing. 88.41% of the stock is owned by hedge funds and other institutional investors.

About Purple Innovation

Purple Innovation, Inc designs and manufactures sleep and other products in the United States and internationally. The company offers mattresses, pillows, cushions, bases, sheets, platforms, adjustable bases, mattress protectors, foundations, blankets, duvets, duvet covers, seat cushions, and pet beds under the Purple brand.