Lulu’s Fashion Lounge (NASDAQ:LVLU) Given New $3.00 Price Target at Piper Sandler

Lulu’s Fashion Lounge (NASDAQ:LVLU – Get Rating) had its target price reduced by Piper Sandler from $11.00 to $3.00 in a research note released on Wednesday morning, The Fly reports.

Several other research analysts also recently commented on the company. Telsey Advisory Group decreased their price objective on Lulu’s Fashion Lounge from $9.00 to $5.00 and set an outperform rating on the stock in a report on Wednesday. Cowen downgraded Lulu’s Fashion Lounge from an outperform rating to a market perform rating and decreased their price objective for the stock from $8.00 to $5.50 in a report on Tuesday, November 22nd. Robert W. Baird decreased their price objective on Lulu’s Fashion Lounge from $7.00 to $5.50 in a report on Wednesday. BTIG Research decreased their price objective on Lulu’s Fashion Lounge from $5.00 to $4.00 and set a buy rating on the stock in a report on Wednesday. Finally, The Goldman Sachs Group cut their target price on Lulu’s Fashion Lounge from $8.75 to $5.00 and set a buy rating on the stock in a research note on Monday, December 12th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $4.58.

Lulu’s Fashion Lounge Trading Down 13.4 %

Shares of LVLU stock opened at $2.32 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 1.45 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $2.95 and a two-hundred day moving average price of $4.05. Lulu’s Fashion Lounge has a 12-month low of $1.93 and a 12-month high of $21.29. The firm has a market cap of $91.15 million, a P/E ratio of 29.00 and a beta of -0.02.

Institutional Investors Weigh In On Lulu’s Fashion Lounge

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Truist Financial Corp lifted its position in Lulu’s Fashion Lounge by 99.2% during the fourth quarter. Truist Financial Corp now owns 100,134 shares of the company’s stock valued at $251,000 after buying an additional 49,864 shares during the period. Morgan Stanley increased its stake in shares of Lulu’s Fashion Lounge by 30.6% in the 4th quarter. Morgan Stanley now owns 31,951 shares of the company’s stock worth $80,000 after acquiring an additional 7,493 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Lulu’s Fashion Lounge by 17.1% in the 4th quarter. Renaissance Technologies LLC now owns 89,200 shares of the company’s stock worth $224,000 after acquiring an additional 13,000 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Lulu’s Fashion Lounge by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 236,352 shares of the company’s stock worth $593,000 after acquiring an additional 11,662 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Lulu’s Fashion Lounge by 194.8% in the 4th quarter. Bank of America Corp DE now owns 17,019 shares of the company’s stock worth $43,000 after acquiring an additional 11,246 shares in the last quarter. 54.08% of the stock is owned by hedge funds and other institutional investors.

About Lulu’s Fashion Lounge

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Lulu's Fashion Lounge Holdings, Inc operates as an online retailer of women's clothing, shoes, and accessories. The company offers dresses, tops, bottoms, bridal wear, intimates, swimwear, footwear, and accessories under the Lulus brand. It sells its products through owned media, which primarily consists of its website, mobile app, social media platforms, email, and SMS; and earned and paid media, as well as social media platforms.