Purple Innovation Reports Record Fourth Quarter and Full Year 2020 Results
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Purple Innovation (PRPL) PT Lowered to $32 at BofA Securities
March 5, 2021 6:51 AM ESTBofA Securities analyst Curtis Nagle lowered the price target on Purple Innovation (NASDAQ: PRPL) to $32.00 (from $42.00) while maintaining a Buy rating.
Rev deceleration adds some caution but LT story intact... MorePurple Innovation (PRPL) Misses Q4 EPS by 4c, Revenues Miss; Offers FY21 Revenue Guidance Above Consensus, 1Q Revenue Views Below Consensus
March 4, 2021 7:07 AM ESTPurple Innovation (NASDAQ: PRPL) reported Q4 EPS of $0.07, $0.04 worse than the analyst estimate of $0.11. Revenue for the quarter came in at $173.9 million versus the consensus estimate of $196.33 million.
Fourth Quarter Financial Summary (Comparisons versus Fourth Quarter 2019)1
Net revenue increased 39.9% to $173.9 million as compared to $124.3 million.Direct-to-Consumer (DTC) revenue increased 57%; Wholesale revenue increased 9%Gross margin was 47.2% compared to 47.7%.Operating expenses as a percent of net revenue were 42.9% as compared to 45.4%.Operating income increased 171.1% to $7.5 million as compared to $2.8 million.Net loss was $(2.1) million... More