Maxim Group Boosts Lovesac (NASDAQ:LOVE) Price Target to $38.00

Lovesac (NASDAQ:LOVEGet Free Report) had its price objective increased by Maxim Group from $36.00 to $38.00 in a report issued on Monday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. Maxim Group’s target price suggests a potential upside of 63.30% from the company’s previous close.

LOVE has been the subject of a number of other reports. Oppenheimer reduced their price target on shares of Lovesac from $60.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Roth Mkm reaffirmed a “buy” rating and set a $30.00 price objective on shares of Lovesac in a research note on Tuesday, June 11th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $36.00 price objective on shares of Lovesac in a research note on Friday, June 14th. Finally, DA Davidson raised their price objective on shares of Lovesac from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $34.20.

View Our Latest Research Report on LOVE

Lovesac Stock Down 4.1 %

Shares of Lovesac stock opened at $23.27 on Monday. The firm has a market capitalization of $361.85 million, a P/E ratio of 27.38, a PEG ratio of 0.64 and a beta of 2.86. The company has a 50 day moving average price of $24.57 and a 200 day moving average price of $24.10. Lovesac has a 52 week low of $14.18 and a 52 week high of $29.81.

Lovesac (NASDAQ:LOVEGet Free Report) last posted its quarterly earnings results on Thursday, June 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.16. Lovesac had a net margin of 2.17% and a return on equity of 7.55%. The company had revenue of $132.64 million during the quarter, compared to analyst estimates of $128.20 million. As a group, research analysts anticipate that Lovesac will post 1.09 earnings per share for the current fiscal year.

Insider Activity at Lovesac

In related news, CFO Keith R. Siegner purchased 4,800 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were purchased at an average price of $20.80 per share, with a total value of $99,840.00. Following the purchase, the chief financial officer now owns 4,800 shares of the company’s stock, valued at $99,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Lovesac news, Director Andrew R. Heyer bought 3,856 shares of the stock in a transaction on Tuesday, April 16th. The shares were bought at an average price of $18.76 per share, with a total value of $72,338.56. Following the purchase, the director now directly owns 3,856 shares in the company, valued at approximately $72,338.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith R. Siegner bought 4,800 shares of the stock in a transaction on Friday, April 19th. The shares were acquired at an average cost of $20.80 per share, for a total transaction of $99,840.00. Following the purchase, the chief financial officer now owns 4,800 shares in the company, valued at $99,840. The disclosure for this purchase can be found here. 12.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lovesac

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOVE. Barclays PLC boosted its stake in Lovesac by 15.2% during the 3rd quarter. Barclays PLC now owns 6,210 shares of the company’s stock worth $124,000 after purchasing an additional 818 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Lovesac during the 3rd quarter worth $803,000. Millrace Asset Group Inc. raised its holdings in shares of Lovesac by 73.9% during the 3rd quarter. Millrace Asset Group Inc. now owns 115,704 shares of the company’s stock worth $2,305,000 after acquiring an additional 49,153 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Lovesac during the 3rd quarter worth $1,189,000. Finally, Graham Capital Management L.P. purchased a new position in shares of Lovesac during the 3rd quarter worth $255,000. Institutional investors and hedge funds own 91.32% of the company’s stock.

Lovesac Company Profile

(Get Free Report)

The Lovesac Company designs, manufactures, and sells furniture. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and other products comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans. The company markets its products primarily through www.lovesac.com website, as well as showrooms at top tier malls, lifestyle centers, mobile concierges, kiosks, and street locations in 41 states in the United States; and in store pop-up- shops and shop-in-shops, and barter inventory transactions.

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Analyst Recommendations for Lovesac (NASDAQ:LOVE)

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