The Lovesac (NASDAQ:LOVE) Posts Quarterly Earnings Results, Beats Expectations By $0.71 EPS

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

NASDAQ:LOVE opened at $83.42 on Thursday. The business’s fifty day moving average is $73.38. The firm has a market capitalization of $1.25 billion, a PE ratio of 95.89, a PEG ratio of 5.99 and a beta of 2.49. The Lovesac has a fifty-two week low of $18.88 and a fifty-two week high of $95.51.

In other The Lovesac news, CEO Shawn David Nelson sold 6,000 shares of the company’s stock in a transaction on Monday, April 19th. The shares were sold at an average price of $69.00, for a total transaction of $414,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 31.31% of the company’s stock.

A number of analysts recently issued reports on LOVE shares. DA Davidson increased their price target on shares of The Lovesac from $57.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 15th. BTIG Research increased their price target on shares of The Lovesac from $62.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, April 9th. Canaccord Genuity increased their price target on shares of The Lovesac from $65.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, April 14th. Oppenheimer increased their price target on shares of The Lovesac from $60.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, April 20th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $66.00 price target on shares of The Lovesac in a report on Monday, March 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The Lovesac presently has a consensus rating of “Buy” and an average price target of $80.00.

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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Earnings History for The Lovesac (NASDAQ:LOVE)

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