The Lovesac Company (NASDAQ:LOVE) Receives $79.13 Consensus Price Target from Brokerages

The Lovesac Company (NASDAQ:LOVEGet Rating) has earned a consensus rating of “Buy” from the nine ratings firms that are covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have covered the stock in the last year is $79.13.

LOVE has been the subject of a number of analyst reports. Canaccord Genuity Group reduced their price objective on shares of Lovesac from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, September 9th. Canaccord Genuity Group reduced their price objective on shares of Lovesac from $70.00 to $60.00 in a research note on Friday, September 9th. DA Davidson reduced their price target on shares of Lovesac from $124.00 to $97.00 and set a “buy” rating for the company in a research note on Friday, September 9th. Stifel Nicolaus reduced their price target on shares of Lovesac from $90.00 to $72.00 and set a “buy” rating for the company in a research note on Friday, September 9th. Finally, Oppenheimer reduced their price target on shares of Lovesac from $95.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, September 9th.

Insider Activity at Lovesac

In other Lovesac news, Director Walter Field Mclallen bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 13th. The stock was bought at an average cost of $20.60 per share, for a total transaction of $41,200.00. Following the completion of the transaction, the director now owns 12,136 shares of the company’s stock, valued at approximately $250,001.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.66% of the stock is currently owned by company insiders.

Institutional Trading of Lovesac

Large investors have recently added to or reduced their stakes in the business. Hood River Capital Management LLC grew its position in Lovesac by 101.3% during the first quarter. Hood River Capital Management LLC now owns 821,468 shares of the company’s stock valued at $44,409,000 after buying an additional 413,458 shares during the period. Landscape Capital Management L.L.C. purchased a new position in Lovesac during the second quarter valued at approximately $990,000. Skylands Capital LLC lifted its holdings in Lovesac by 2.3% during the first quarter. Skylands Capital LLC now owns 131,165 shares of the company’s stock valued at $7,091,000 after purchasing an additional 2,950 shares in the last quarter. Connors Investor Services Inc. lifted its holdings in Lovesac by 2.9% during the first quarter. Connors Investor Services Inc. now owns 82,455 shares of the company’s stock valued at $4,458,000 after purchasing an additional 2,339 shares in the last quarter. Finally, Granahan Investment Management LLC lifted its holdings in Lovesac by 25.0% during the first quarter. Granahan Investment Management LLC now owns 890,522 shares of the company’s stock valued at $48,142,000 after purchasing an additional 178,119 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors.

Lovesac Price Performance

Shares of NASDAQ LOVE opened at $25.72 on Tuesday. Lovesac has a 1 year low of $19.42 and a 1 year high of $85.13. The stock has a market cap of $390.43 million, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 0.31 and a beta of 2.45. The firm has a 50-day moving average of $23.00 and a 200 day moving average of $29.29.

Lovesac (NASDAQ:LOVEGet Rating) last released its quarterly earnings data on Thursday, September 8th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. The business had revenue of $148.50 million during the quarter, compared to analyst estimates of $130.51 million. Lovesac had a net margin of 7.52% and a return on equity of 18.61%. Lovesac’s revenue was up 45.0% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS. Research analysts expect that Lovesac will post 2.33 earnings per share for the current fiscal year.

About Lovesac

(Get Rating)

The Lovesac Company designs, manufactures, and sells furniture. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans. As of January 30, 2022, the company operated 146 showrooms.

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Analyst Recommendations for Lovesac (NASDAQ:LOVE)

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