Purple Innovation, Inc. (NASDAQ:PRPL) traded at $19.33 at last check on Wednesday, Jul 15, making an upward move of 5.46% on its previous day’s price.
Looking at the stock we see that its previous close was $18.33 and the beta (5Y monthly) reads 2.14 with the day’s price range being $18.60 – 21.18. In terms of its 52-week price range, PRPL has a high of $21.18 and a low of $4.42. The company’s stock has gained about 16.38% over that past 30 days.
On the other hand, looking at the outlook for the PRPL stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Based on estimates by 6 analysts where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, none have rated the Purple Innovation, Inc. (PRPL) stock as a Hold, while 5 rate it as a Buy. 1 analysts rate it as outperform while none of them rated it as underperform, whereas none suggests the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note that the PEG ratio for the PRPL stock currently stands at 14.94, and the current price level is 5.57% off its SMA20 and 24.06% from its 50-day simple moving average. The RSI (14) is pointing at 61.49 while the volatility over the past week is 8.92% and drops to 6.83% over the past one month. The beta value is 1.8, while the average true range (ATR) is currently pointing at 1.3. The average price target for the stock over the next 12 months is $19.33, with the estimates having a low of $17 and a high of $23. These price ends are -12.05% and +18.99% off the current price level respectively, although investors could be excited at the prospect of a -1.71% if the PRPL share price touches on the median price of $19.
Let’s briefly compare Purple (PRPL) stock to its peers. We find that today’s price change of +5.46% and +199.23% over the past 12 months for PRPL betters that of Kimberly-Clark Corp (KMB), which has seen its stock price fall -0.47% in the latest trading session and is +3.44% over the last one year. Another of its peers Chewy Inc (CHWY) has dropped -1.83% today, and is +43.61% up over the past year, while International Flavors & Fragrances (IFF) is also up 5.46% yet its price remains in the green at 199.23% over the same period. Kimberly-Clark has a P/E ratio of 20.92 compared to Purple’s 345.18 and Chewy’s 0. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.85% and 0.91%, respectively, in early deals.
Coming back to Purple Innovation, Inc. (NASDAQ:PRPL), we note that the average 3-month trading volume was 806.69 Million, while that of the preceding 10-day period stands at 816.61 Million. Current shares outstanding are 36.47 Million.
According to data from Thomson Reuters, insiders hold 3.67% of the company’s shares while institutions hold 80.49%. The data shows that short shares as of June 29, 2020, stood at 3.05 Million at a short ratio of 3.09. This represents a 5.66% Short interest in Shares outstanding on June 29, 2020. Shares short rose in June from the previous month at 2.27 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock +121.93% up in year-to-date price movement.