How to Buy Purple Innovation Stock
Purple Innovation Inc
Purple Innovation, Inc. designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, weighted blankets, and duvets, as well as pet beds.
Purple Innovation stock last closed at $1.52, down 2.88% from the previous day, and has decreased 42.64% in one year. It has underperformed other stocks in the Furnishings Fixtures & Appliances industry by 0.39 percentage points. Purple Innovation stock is currently +178.9% from its 52-week low of $0.55, and -59.79% from its 52-week high of $3.78.
As of Apr 17, 2024, there are 107.21M PRPL shares outstanding. The market cap of PRPL is $162.96M. In the last 24 hours, 285,390 PRPL shares were traded.
How to Buy Purple Innovation Stock
Wondering how to invest in Purple Innovation stock? Here's how.
- Figure out where to buy Purple Innovation stock: You need to decide on an online brokerage, but don't worry - we've tried dozens of online brokerages and apps to help you decide where to buy Purple Innovation stock.
- Sign up for a brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've selected.
- Deposit money your investment account: Choose your payment method and add your details.
- Research Purple Innovation stock: The Purple Innovation ticker symbol is PRPL. Is Purple Innovation stock a good investment? Should you buy shares of PRPL? How do PRPL's underlying business fundamentals look? Do top analysts think Purple Innovation is a good buy? Why has PRPL's stock price moved recently? (Hint: Our stock research tools can help you evaluate if PRPL is a good stock to buy).
- Make your PRPL trade: Decide if you will purchase PRPL shares at the current market price or use a limit order to purchase PRPL stock at a specific price.
- Watch your PRPL investment: Create a watchlist to important updates regarding your position in Purple Innovation shares.
Step 1: Figure out where to buy Purple Innovation stock
You need a brokerage account to access the NASDAQ market and buy PRPL shares.
Our recommended brokerage: eToro
Based on our research, eToro is the best online stock brokerage. Here's why:
- Invest in stocks with 0% commissions: Invest without paying trading commissions.
- Buy fractional shares: Even if you can't afford a full share, you can still buy the stock.
- Access to global financial markets: From Tech to Real Estate, New York to Shanghai — you can fill your portfolio with stocks from the world's leading exchanges.
- Social investing: eToro offers a community of more than 20 million users globally. Talk to, learn from, and copy the crypto trades of other investors.
- Security: eToro is a regulated and licensed brokerage platform.
- Buy other financial assets: Such as ETFs and cryptos.
Get $10 towards your share purchase by creating an account with eToro today.
Open eToro AccountStep 2: Sign up for a brokerage account
Now that you've chosen the right brokerage, the next step is to fill out some personal information so you can buy PRPL today.
How to Set Up a New Investment Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Input your personal data to open a new brokerage account.
- Send your details by pressing the "Create Account" button. Get started with eToro today
Step 3: Deposit money your investment account
Now that you have opened your account on the best stock investing app, you can securely and quickly fund your account:
Watch this video walkthrough for more details transferring funds into your brokerage account.
Step 4: Research Purple Innovation stock
After you have decided on the best place to buy Purple Innovation stock, it's critical to evaluate their stock prior to buying, so you can comprehend the risk as well as the upside.
Purple Innovation Metrics
PRPL Overview
WallStreetZen was designed to help part-time investors perform more accurate fundamental analysis in less time.
You can view all of the due diligence checks on PRPL's stock page.
Is PRPL stock undervalued or overvalued?
Analysts use a variety of different financial metrics, analyses, models, and charts to gauge PRPL's fair value.
Using relative valuations metrics:
- PRPL may be undervalued based on its P/B ratio of 1.41x, relative to Furnishings Fixtures & Appliances industry P/B ratio of 2.14x
You can do additional valuation analysis on PRPL's stock here.
PRPL Financials at a glance
Passed Health Checks:
- PRPL has $26.86M in cash and short term investments. This is sufficient to cover its annual cash burn of $69.90M.
- There are more short-term assets than short-term liabilities on the PRPL balance sheet.
- Total PRPL debt is lower than 5 years ago, relative to shareholder equity.
Failed Health Checks:
- There are more long-term liabilities than short-term assets on the PRPL balance sheet.
- PRPL has a relatively high debt to equity ratio of 2.38.
- PRPL has cash burn of 69897000. It does not have sufficient cash and short-term investments to cover this.
- PRPL profit margin has gone down from -16.1% to -23.7% in the past year.
Do Wall Street analysts think it's a good time to buy Purple Innovation stock
Out of 4 sell side analysts who track PRPL, the consensus analyst rating on Purple Innovation is a Strong Buy
It's important to note that analyst ratings are not recommendations, nor are they investment advice.
You can dig deeper into what analysts are saying on the Purple Innovation stock forecast page.
PRPL Technical Indicators
How are PRPL Revenues/Earnings doing?
Last year, PRPL revenue was $510.54M. Over the last five year, PRPL's revenue has gone up by 12.3% per year. This was slower than the Furnishings Fixtures & Appliances industry average of 20.17%.
You can analyze PRPL's earnings and revenue performance here.
What are PRPL executives and large shareholders up to?
In the last 12 months, insiders at PRPL have sold more shares than they have bought.
George Turner Ulrich, Principal Accounting Officer of PRPL, was the latest PRPL insider to buy. They bought $6,060.00 worth of PRPL stock on Mar 22, 2024.
Get more info about who owns PRPL shares here.
Can I get consistent income from PRPL stock?
No, Purple Innovation doesn't provide an income stream by paying out dividends.
What others are saying about PRPL
One of the reasons eToro is our top-rated brokerage is because of its social trading community.
Click below to see what other community members have to say.
Step 5: Make your PRPL trade
You have two main order types:
- Market order: A market order is an order to buy or sell a stock at the best available price.
Market orders are mostly sufficient. - Limit order: A limit order enables you to buy or sell a security at a specific price (or better).
If you want to make sure you're buying or selling at a particular dollar amount, use a limit order.
Click the Open Trade button and eToro will place the order.
If you need more assistance investing in stocks on eToro, click the how to video below:
Step 6: Watch your PRPL investment
Now that you own some PRPL shares, you'll want to keep up with your new investment.
Put PRPL on a watchlist to track your PRPL stock.
PRPL Feed
How to Buy Stock in Purple Innovation
To summarize, here are the 6 steps for buying Purple Innovation stock:
- Figure out where to buy Purple Innovation stock
- Sign up for a brokerage account
- Deposit money your investment account
- Research Purple Innovation stock
- Make your PRPL trade
- Watch your PRPL investment
If you require a online brokerage, eToro is our favorite venue.
Get Started with eToro TodayIf you would like to get updates on your investment in Purple Innovation, click the button below.
More Content You May Find Useful
FAQ
Company
AboutNewsBlogStock Investing FAQPlansPrivacy PolicyTerms of ServiceCancellation & RefundsHelp GuidesContactTwitterYouTubeNewsletterInformation is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.