Maxim Group Issues Pessimistic Forecast for Lovesac (NASDAQ:LOVE) Stock Price

Key Points

• Maxim Group has decreased its price target for Lovesac (NASDAQ:LOVE) from $38.00 to $33.00, indicating a potential upside of 92.42% from the previous close, while maintaining a "buy" rating on the stock.
• Other analysts have varied opinions; Wall Street Zen upgraded Lovesac to a "hold," while DA Davidson and Canaccord Genuity reaffirmed "buy" ratings with targets of $24.00 and $30.00, respectively.
• Lovesac recently reported earnings of ($0.45) per share for the quarter, exceeding analysts' expectations of ($0.72) and showing a slight revenue increase compared to the previous year.

Lovesac (NASDAQ:LOVE - Free Report) had its price objective cut by Maxim Group from $38.00 to $33.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently weighed in on the stock. DA Davidson reaffirmed a "buy" rating and issued a $24.00 target price on shares of Lovesac in a research report on Tuesday, September 9th. Canaccord Genuity Group reissued a "buy" rating and set a $30.00 price objective on shares of Lovesac in a research report on Friday, September 12th. Finally, Wall Street Zen raised shares of Lovesac from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $30.00.

Lovesac Stock Up 4.7%

Shares of NASDAQ:LOVE traded up $0.84 during midday trading on Friday, reaching $18.79. The company's stock had a trading volume of 292,484 shares, compared to its average volume of 418,008. The firm has a 50 day moving average of $18.75 and a 200-day moving average of $18.63. The firm has a market capitalization of $274.52 million, a P/E ratio of 29.82, a PEG ratio of 0.84 and a beta of 2.35. Lovesac has a 12-month low of $12.12 and a 12-month high of $39.49.

Lovesac (NASDAQ:LOVE - Get Free Report) last released 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 1.87% and a return on equity of 6.35%. The company's revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($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. On average, research analysts predict that Lovesac will post 0.39 EPS for the current year.

Insiders Place Their Bets

In other Lovesac news, Director Walter Field Mclallen acquired 1,950 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was bought at an average cost of $18.08 per share, with a total value of $35,256.00. Following the completion of the purchase, the director directly owned 40,000 shares in the company, valued at $723,200. The trade was a 5.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lovesac

A number of large investors have recently added to or reduced their stakes in the company. Senvest Management LLC raised its holdings in Lovesac by 0.8% in the second quarter. Senvest Management LLC now owns 1,282,634 shares of the company's stock worth $23,344,000 after purchasing an additional 10,000 shares in the last quarter. Hood River Capital Management LLC raised its holdings in Lovesac by 17.4% in the second quarter. Hood River Capital Management LLC now owns 989,117 shares of the company's stock worth $18,002,000 after purchasing an additional 146,911 shares in the last quarter. Anson Funds Management LP raised its holdings in Lovesac by 1.4% in the first quarter. Anson Funds Management LP now owns 932,261 shares of the company's stock worth $16,949,000 after purchasing an additional 13,032 shares in the last quarter. AWM Investment Company Inc. raised its holdings in Lovesac by 7.2% in the second quarter. AWM Investment Company Inc. now owns 730,960 shares of the company's stock worth $13,303,000 after purchasing an additional 49,219 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Lovesac by 10.5% in the first quarter. American Century Companies Inc. now owns 482,587 shares of the company's stock worth $8,773,000 after purchasing an additional 45,797 shares in the last quarter. 91.32% of the stock is currently owned by institutional investors.

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.