The Lovesac (NASDAQ:LOVE) Releases Earnings Results, Beats Estimates By $0.71 EPS

The Lovesac (NASDAQ:LOVE) posted its quarterly earnings data on Tuesday. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.58) by $0.71, MarketWatch Earnings reports. The business had revenue of $82.90 million during the quarter, compared to the consensus estimate of $75.06 million. The Lovesac had a net margin of 4.59% and a return on equity of 16.47%. The Lovesac’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.58) EPS.

The Lovesac stock opened at $83.42 on Thursday. The stock’s 50 day moving average is $73.38. The company has a market cap of $1.25 billion, a P/E ratio of 95.89, a PEG ratio of 5.99 and a beta of 2.49. The Lovesac has a one year low of $18.88 and a one year high of $95.51.

A number of research firms have issued reports on LOVE. Canaccord Genuity raised their target price on The Lovesac from $77.00 to $98.00 and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research cut shares of The Lovesac from a “buy” rating to a “hold” rating in a research note on Tuesday, April 20th. Oppenheimer raised their price target on shares of The Lovesac from $60.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 20th. Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price objective on shares of The Lovesac in a research report on Monday, March 15th. Finally, Craig Hallum upped their price target on The Lovesac from $50.00 to $85.00 in a report on Wednesday, April 14th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The Lovesac presently has an average rating of “Buy” and a consensus target price of $85.25.

In other The Lovesac news, CEO Shawn David Nelson sold 6,000 shares of the stock in a transaction on Monday, April 19th. The stock was sold at an average price of $69.00, for a total transaction of $414,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 31.31% of the company’s stock.

The Lovesac Company Profile

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, foot sac blankets, decorative pillows, fitted seat tables, and ottomans. As of January 31, 2021, the Company operated 108 showrooms.

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Earnings History for The Lovesac (NASDAQ:LOVE)

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