The Lovesac (NASDAQ:LOVE) Price Target Increased to $105.00 by Analysts at Stifel Nicolaus

The Lovesac (NASDAQ:LOVE) had its target price increased by Stifel Nicolaus from $75.00 to $105.00 in a report released on Thursday morning, The Fly reports. Stifel Nicolaus currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. BTIG Research raised their target price on The Lovesac from $78.00 to $98.00 and gave the company a buy rating in a report on Thursday. They noted that the move was a valuation call. Oppenheimer lifted their price target on The Lovesac from $60.00 to $85.00 and gave the stock an outperform rating in a report on Tuesday, April 20th. Roth Capital lifted their price target on The Lovesac from $85.00 to $95.00 and gave the stock a buy rating in a report on Tuesday. Canaccord Genuity lifted their price target on The Lovesac from $77.00 to $98.00 and gave the stock a buy rating in a report on Thursday. Finally, DA Davidson lifted their price target on The Lovesac from $57.00 to $85.00 and gave the stock a buy rating in a report on Thursday, April 15th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The Lovesac has a consensus rating of Buy and an average target price of $96.38.

Shares of The Lovesac stock opened at $87.40 on Thursday. The Lovesac has a 52 week low of $18.88 and a 52 week high of $95.51. The firm has a 50 day moving average price of $73.96. The firm has a market capitalization of $1.31 billion, a PE ratio of 100.46, a PEG ratio of 5.99 and a beta of 2.49.

The Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Tuesday, June 8th. The company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $75.06 million. During the same quarter last year, the firm posted ($0.58) earnings per share. The company’s revenue for the quarter was up 52.4% compared to the same quarter last year. Equities analysts expect that The Lovesac will post 0.4 earnings per share for the current year.

In other The Lovesac news, CEO Shawn David Nelson sold 6,000 shares of the business’s stock in a transaction on Monday, April 19th. The stock was sold at an average price of $69.00, for a total value of $414,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 31.31% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC bought a new stake in shares of The Lovesac in the first quarter valued at $25,000. Point72 Hong Kong Ltd bought a new stake in shares of The Lovesac in the first quarter valued at $25,000. Royal Bank of Canada grew its position in shares of The Lovesac by 97.9% in the first quarter. Royal Bank of Canada now owns 651 shares of the company’s stock valued at $37,000 after purchasing an additional 322 shares in the last quarter. Captrust Financial Advisors grew its position in shares of The Lovesac by 37.4% in the first quarter. Captrust Financial Advisors now owns 892 shares of the company’s stock valued at $50,000 after purchasing an additional 243 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of The Lovesac in the first quarter valued at $102,000. Hedge funds and other institutional investors 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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