The Lovesac (NASDAQ:LOVE) Price Target Raised to $110.00 at Craig Hallum

The Lovesac (NASDAQ:LOVE) had its price objective hoisted by Craig Hallum from $85.00 to $110.00 in a research report report published on Thursday, The Fly reports. They currently have a buy rating on the stock.

A number of other brokerages have also commented on LOVE. Stifel Nicolaus upped their price objective on The Lovesac from $75.00 to $105.00 and gave the company a buy rating in a report on Thursday. Zacks Investment Research lowered The Lovesac from a buy rating to a hold rating in a report on Tuesday, April 20th. Roth Capital increased their target price on The Lovesac from $85.00 to $95.00 and gave the stock a buy rating in a report on Tuesday. BTIG Research increased their target price on The Lovesac from $78.00 to $98.00 and gave the stock a buy rating in a report on Thursday. They noted that the move was a valuation call. Finally, Oppenheimer increased their target price on The Lovesac from $60.00 to $85.00 and gave the stock an outperform rating in a report on Tuesday, April 20th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $96.38.

Shares of NASDAQ LOVE opened at $87.40 on Thursday. The firm has a fifty day moving average price of $73.96. The Lovesac has a one year low of $18.88 and a one year high of $95.51. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 100.46, a price-to-earnings-growth ratio of 5.99 and a beta of 2.49.

The Lovesac (NASDAQ:LOVE) last issued its quarterly earnings data on Tuesday, June 8th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.71. The Lovesac had a return on equity of 16.47% and a net margin of 4.59%. The firm had revenue of $82.90 million for the quarter, compared to analyst estimates of $75.06 million. During the same period in the prior year, the firm posted ($0.58) EPS. The company’s revenue for the quarter was up 52.4% on a year-over-year basis. On average, sell-side analysts forecast that The Lovesac will post 0.4 earnings per share for the current fiscal year.

In related news, CEO Shawn David Nelson sold 6,000 shares of the company’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 31.31% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in shares of The Lovesac during the 1st quarter worth $25,000. Point72 Hong Kong Ltd bought a new stake in shares of The Lovesac during the 1st quarter worth $25,000. Royal Bank of Canada lifted its position in shares of The Lovesac by 97.9% during the 1st quarter. Royal Bank of Canada now owns 651 shares of the company’s stock worth $37,000 after buying an additional 322 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of The Lovesac by 37.4% during the 1st quarter. Captrust Financial Advisors now owns 892 shares of the company’s stock worth $50,000 after buying an additional 243 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of The Lovesac during the 1st quarter worth $102,000. Institutional investors and hedge funds own 92.15% 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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