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, footsac blankets, decorative pillows, fitted seat tables, and ottomans. As of January 30, 2022, the company operated 146 showrooms. It markets its products primarily through lovesac.com website, as well as showrooms at top tier malls, lifestyle centers, kiosks, mobile concierges, and street locations in 39 states of the United States; and in store pop-up- shops and shop-in-shops. The Lovesac Company was founded in 1995 and is headquartered in Stamford, Connecticut.
Lovesac Trading Down 5.9 %
LOVE Stock opened at $36.37 on Thursday. The firm has a market cap of $550.28 million, a P/E ratio of 12.81, a P/E/G ratio of 0.35 and a beta of 2.40. Lovesac has a 1-year low of $26.05 and a 1-year high of $87.12. The business's 50 day moving average is $32.44 and its 200-day moving average is $39.54.
Lovesac (NASDAQ:LOVE - Get Rating) last issued its quarterly earnings data on Wednesday, June 8th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.32. The company had revenue of $129.40 million during the quarter, compared to analysts' expectations of $114.81 million. Lovesac had a return on equity of 21.22% and a net margin of 8.40%. The business's revenue was up 56.1% on a year-over-year basis. During the same period last year, the business earned $0.13 earnings per share. Sell-side analysts forecast that Lovesac will post 3.11 EPS for the current year.
Analysts Set New Price Targets
A number of research firms have issued reports on LOVE. Craig Hallum reduced their target price on shares of Lovesac to $100.00 in a research note on Thursday, June 9th. BTIG Research cut their price target on Lovesac from $100.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, July 21st. Canaccord Genuity Group dropped their target price on shares of Lovesac from $104.00 to $70.00 in a research report on Thursday, June 9th. Stifel Nicolaus reduced their price target on shares of Lovesac from $110.00 to $90.00 in a report on Thursday, June 9th. Finally, DA Davidson dropped their price objective on shares of Lovesac from $135.00 to $124.00 in a report on Wednesday, June 1st. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Lovesac currently has a consensus rating of "Buy" and a consensus target price of $96.00.
Insider Buying and Selling at Lovesac
In other news, CEO Shawn David Nelson sold 8,000 shares of Lovesac stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $33.89, for a total value of $271,120.00. Following the completion of the transaction, the chief executive officer now owns 64,895 shares in the company, valued at $2,199,291.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.66% of the company's stock.