Lovesac (NASDAQ:LOVE – Get Rating) announced its quarterly earnings data on Thursday. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08, Briefing.com reports. Lovesac had a net margin of 7.52% and a return on equity of 19.27%. The firm had revenue of $148.50 million for the quarter, compared to the consensus estimate of $130.51 million. During the same period in the prior year, the company posted $0.52 earnings per share. The business’s revenue for the quarter was up 45.0% on a year-over-year basis.
Lovesac Price Performance
NASDAQ LOVE traded up $2.25 during trading hours on Friday, reaching $28.43. The company’s stock had a trading volume of 1,010,660 shares, compared to its average volume of 332,303. The firm has a fifty day simple moving average of $32.91 and a 200-day simple moving average of $37.68. The stock has a market cap of $430.15 million, a P/E ratio of 10.26, a P/E/G ratio of 0.25 and a beta of 2.37. Lovesac has a 52 week low of $25.55 and a 52 week high of $87.12.
Insider Activity at Lovesac
In related news, CEO Shawn David Nelson sold 8,000 shares of the firm’s 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 approximately $2,199,291.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 8.66% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Analyst Ratings Changes
A number of research firms have recently weighed in on LOVE. Canaccord Genuity Group reduced their price target on shares of Lovesac from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday. Oppenheimer reduced their price target on shares of Lovesac from $95.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday. Craig Hallum reduced their price target on shares of Lovesac to $100.00 in a research note on Thursday, June 9th. DA Davidson reduced their price target on shares of Lovesac from $124.00 to $97.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Canaccord Genuity Group reduced their price target on shares of Lovesac from $70.00 to $60.00 in a research note on Friday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Lovesac currently has an average rating of “Buy” and an average target price of $82.00.
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.
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