Lovesac's (LOVE) "Buy" Rating Reiterated at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reiterated a "buy" rating for Lovesac (LOVE) with a target price of $30.00, suggesting a potential upside of 69.78% from the current stock level.
• The company's stock has experienced a 14.8% decline recently, with its current price around $17.67 and a twelve-month range between $12.12 and $39.49.
• Following recent earnings results that exceeded estimates, Lovesac’s consensus rating remains a "buy," with expectations for the current fiscal year's earnings projected at 0.39 EPS.

Lovesac (NASDAQ:LOVE - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Canaccord Genuity Group in a note issued to investors on Friday,Benzinga reports. They currently have a $30.00 target price on the stock. Canaccord Genuity Group's price target would suggest a potential upside of 69.78% from the company's previous close.

LOVE has been the subject of a number of other research reports. Wall Street Zen raised shares of Lovesac from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. DA Davidson restated a "buy" rating and set a $24.00 price target on shares of Lovesac in a research note on Tuesday. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Lovesac presently has a consensus rating of "Buy" and a consensus target price of $30.40.

Lovesac Stock Down 14.8%

Lovesac stock opened at $17.67 on Friday. The company's 50-day moving average price is $18.82 and its 200-day moving average price is $18.73. Lovesac has a twelve month low of $12.12 and a twelve month high of $39.49. The company has a market cap of $257.10 million, a PE ratio of 25.24, a price-to-earnings-growth ratio of 0.66 and a beta of 2.35.

Lovesac (NASDAQ:LOVE - Get Free Report) last posted its earnings results on Thursday, September 11th. The company reported ($0.45) earnings per share for the quarter, topping analysts' consensus estimates of ($0.72) by $0.27. The firm had revenue of $160.53 million for the quarter, compared to the consensus estimate of $160.42 million. Lovesac had a net margin of 1.99% and a return on equity of 6.70%. The business's quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.38) EPS. Lovesac has set its Q3 2026 guidance at -0.830--0.51 EPS. FY 2026 guidance at 0.520-1.05 EPS. As a group, sell-side analysts expect that Lovesac will post 0.39 earnings per share for the current fiscal year.

Insider Transactions at Lovesac

In related news, Director Walter Field Mclallen purchased 1,950 shares of the company's stock in a transaction on Friday, June 20th. The stock was acquired at an average cost of $18.08 per share, for a total transaction of $35,256.00. Following the completion of the transaction, the director directly owned 40,000 shares in the company, valued at approximately $723,200. The trade was a 5.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 12.46% of the company's stock.

Institutional Investors Weigh In On Lovesac

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its holdings in shares of Lovesac by 1,165.7% in the first quarter. SG Americas Securities LLC now owns 304,586 shares of the company's stock valued at $5,537,000 after purchasing an additional 280,522 shares in the last quarter. Millennium Management LLC lifted its stake in Lovesac by 344.8% in the first quarter. Millennium Management LLC now owns 302,291 shares of the company's stock worth $5,496,000 after acquiring an additional 234,324 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Lovesac by 252.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 306,687 shares of the company's stock valued at $5,582,000 after buying an additional 219,762 shares in the last quarter. AWM Investment Company Inc. boosted its holdings in shares of Lovesac by 33.2% in the 4th quarter. AWM Investment Company Inc. now owns 681,741 shares of the company's stock valued at $16,130,000 after buying an additional 170,045 shares in the last quarter. Finally, Hood River Capital Management LLC boosted its holdings in shares of Lovesac by 17.4% in the 2nd quarter. Hood River Capital Management LLC now owns 989,117 shares of the company's stock valued at $18,002,000 after buying an additional 146,911 shares in the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

About Lovesac

The Lovesac Company designs, manufactures, and sells furniture. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and other products comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans. The company markets its products primarily through www.lovesac.com website, as well as showrooms at top tier malls, lifestyle centers, mobile concierges, kiosks, and street locations in 41 states in the United States; and in store pop-up- shops and shop-in-shops, and barter inventory transactions.

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