Purple Innovation, Inc. (NASDAQ:PRPL) shares have more than 18.3 percent upside potential from the existing levels. This is based on the revised price target of Raymond James at $ 36.00 on the stock. Incidentally, the brokerage raised its price objective by $ 8 from its earlier level of $ 28.00. However, Raymond James has maintained its Outperform rating on the stock, Benzinga reported.
Shares of Purple Innovation, Inc. traded up $ 0.11 or 0.36 percent on Friday, reaching $ 30.43 with volume of 386.20 thousand shares. Purple Innovation, Inc. has traded high as $ 30.53 and has cracked $ 29.20 on the downward trend According to the previous trading day, closing price of $ 30.43, representing a 585.97 % increase from the 52 week low of $ 4.42 and a 9.14 % decrease over the 52 week high of $ 33.37.
With respect to the key metrics, Purple Innovation, Inc. stock has advanced $ 11.47 or 60.00 percent, reaching $ 18.96 during the simple moving average (SMA) period of 200 days. Similarly, the stock has increased $ 4.45 or 17.00 percent, before arriving at $ 25.98 during the SMA50-day period.
Purple Innovation, Inc. recently reported second quarter financial results on August 13, 2020, after market close, a comfort technology company revealed loss for the second quarter of $ 0.11 per share, from the revenue of $ 165.10 million. The quarterly revenues extended 40.62 percent compared with the same quarter last year.
Moving ahead, the consensus estimates from Thomson Reuters for the third quarter are income of $ 0.24 per share from $ 174.89 million in revenue. For the full year, analysts predict revenues of $ 633.63 million, while looking forward to income of $ 0.52 per share.
Purple Innovation, Inc. designs and manufactures mattresses, pillows, and cushions. It also offers sheets, mattress protectors, platform bases, and foundations.
