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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 $2.06, up 10.75% from the previous day, and has decreased 51.64% in one year. It has underperformed other stocks in the Furnishings Fixtures & Appliances industry by 0.48 percentage points. Purple Innovation stock is currently +277.98% from its 52-week low of $0.55, and -51.18% from its 52-week high of $4.22.

As of Mar 1, 2024, there are 105.75M PRPL shares outstanding. The market cap of PRPL is $217.85M. In the last 24 hours, 1.53M PRPL shares were traded.

How to Buy Purple Innovation Stock

Wondering how to invest in Purple Innovation stock? Here's how.
  1. 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.
  2. Sign up for a brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've selected.
  3. Deposit money your investment account: Choose your payment method and add your details.
  4. 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).
  5. 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.
  6. 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.

A brokerage account enables you to buy and sell a variety of financial instruments, such as stocks, bonds, mutual funds, and ETFs.

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Step 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.

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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.

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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 Price
$2.06
1w %
57.25%
1y %
-51.64%
5y %
-65.55%
P/E
-1.15x
P/B
1.64x
P/S
0.42x
PEG
N/A
Revenue
$515.36M
Earnings
-$166.94M
Fore. Rev. Growth
8.05%
Fore. Earn. Growth
N/A
Market Cap
$217.85M
Next Earnings
Mar 12, 2024
Next Dividend
N/A

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 1.64x, relative to Furnishings Fixtures & Appliances industry P/B ratio of 2.28x

You can do additional valuation analysis on PRPL's stock here.

PRPL Financials at a glance

Passed Health Checks:

  • PRPL has $26.61M in cash and short term investments. This is sufficient to cover its annual cash burn of $67.57M.
  • 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.
  • PRPL has cash burn of 67566000. It does not have sufficient cash and short-term investments to cover this.
  • PRPL profit margin has gone down from -6.7% to -32.4% in the past year.

Do Wall Street analysts think it's a good time to buy Purple Innovation stock

Out of 2 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

SMA10
1.53
SMA20
1.42
SMA50
1.14
SMA100
1.06
SMA200
1.85
MACD
0.19
MACD Signal
0.13
MACD Histogram
0.05
RSI
79.44
Stochastic %K
93.43
Stochastic %D
82.71
StochRSI %K
100
StochRSI %D
79.74

How are PRPL Revenues/Earnings doing?

Last year, PRPL revenue was $515.36M. Over the last five year, PRPL's revenue has gone up by 13.77% per year. This was slower than the Furnishings Fixtures & Appliances industry average of 17.57%.

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.

Gary T. Dicamillo, Director of PRPL, was the latest PRPL insider to buy. They bought $22,180.00 worth of PRPL stock on Aug 28, 2023.

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.

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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:

  1. Figure out where to buy Purple Innovation stock
  2. Sign up for a brokerage account
  3. Deposit money your investment account
  4. Research Purple Innovation stock
  5. Make your PRPL trade
  6. Watch your PRPL investment

If you require a online brokerage, eToro is our favorite venue.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

If you would like to get updates on your investment in Purple Innovation, click the button below.

NASDAQ: PRPL
$2.06+0.20 (+10.75%)
Updated Mar 1, 2024
Open eToro Account
NASDAQ: PRPL
$2.06+0.20 (+10.75%)
Updated Mar 1, 2024
Open eToro Account

FAQ

How much does it cost to buy one Purple Innovation share?

As of Mar 1, 2024, it costs $2.06 to buy one share of Purple Innovation stock.

Remember, eToro's fractional share buying allows you to buy partial shares of stocks and ETFs. Even if you only have $1, you can buy 0.485 shares of PRPL.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Is now a good time to buy Purple Innovation stock?

According to 2 Wall Street analysts who monitor Purple Innovation, their consensus recommendation is to buy Purple Innovation stock.

What is the best way to buy Purple Innovation stock?

One way to place an order for Purple Innovation stock is with a brokerage account.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information 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.