The Lovesac (NASDAQ:LOVE) Price Target Raised to $105.00 at Stifel Nicolaus

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

A number of other research firms have also weighed in on LOVE. Roth Capital boosted their target price on The Lovesac from $85.00 to $95.00 and gave the stock a buy rating in a report on Tuesday. TheStreet raised The Lovesac from a d rating to a c- rating in a report on Wednesday, April 14th. DA Davidson upped their price objective on The Lovesac from $57.00 to $85.00 and gave the company a buy rating in a report on Thursday, April 15th. BTIG Research upped their price objective 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. Finally, Craig Hallum upped their price objective on The Lovesac from $50.00 to $85.00 in a report on Wednesday, April 14th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $96.38.

LOVE stock opened at $87.40 on Thursday. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 100.46, a PEG ratio of 5.99 and a beta of 2.49. The Lovesac has a 1-year low of $18.88 and a 1-year high of $95.51. The business’s 50 day simple moving average is $73.96.

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

In other news, CEO Shawn David Nelson sold 6,000 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 31.31% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOVE. Acadian Asset Management LLC acquired a new stake in shares of The Lovesac during the 1st quarter worth $25,000. Point72 Hong Kong Ltd acquired a new stake in shares of The Lovesac during the 1st quarter worth $25,000. Royal Bank of Canada grew its holdings 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 purchasing an additional 322 shares in the last quarter. Captrust Financial Advisors grew its holdings 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 purchasing an additional 243 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of The Lovesac during the 1st quarter worth $102,000. 92.15% of the stock is currently owned by institutional investors.

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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