The Lovesac (NASDAQ:LOVE) Announces Quarterly Earnings Results

The Lovesac (NASDAQ:LOVE) released its earnings results on Tuesday. The company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.71, MarketWatch Earnings reports. The company had revenue of $82.90 million during the quarter, compared to analysts’ expectations of $75.06 million. The Lovesac had a return on equity of 16.47% and a net margin of 4.59%. The business’s revenue was up 52.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.58) EPS.

NASDAQ:LOVE opened at $83.42 on Thursday. The company’s 50 day moving average is $73.38. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 95.89, a PEG ratio of 5.99 and a beta of 2.49. The Lovesac has a 52 week low of $18.88 and a 52 week high of $95.51.

Several research firms recently issued reports on LOVE. Craig Hallum upped their price target on shares of The Lovesac from $50.00 to $85.00 in a report on Wednesday, April 14th. BTIG Research increased their price target on shares of The Lovesac from $78.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday. Oppenheimer lifted their price target on The Lovesac from $60.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 20th. Canaccord Genuity upped their price objective on The Lovesac from $77.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Roth Capital lifted their target price on The Lovesac from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $85.25.

In related news, CEO Shawn David Nelson sold 6,000 shares of the business’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 31.31% of the company’s stock.

About The Lovesac

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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Earnings History for The Lovesac (NASDAQ:LOVE)

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