Lovesac (NASDAQ:LOVE) Announces Earnings Results

Lovesac (NASDAQ:LOVE) posted its quarterly earnings results on Thursday. The company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.33, Zacks reports. The business had revenue of $241.50 million during the quarter, compared to analysts’ expectations of $230.33 million. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.87 EPS.

Lovesac Price Performance

LOVE opened at $18.34 on Friday. The stock has a market capitalization of $283.04 million, a price-to-earnings ratio of 53.94, a PEG ratio of 0.65 and a beta of 3.08. The business has a fifty day moving average price of $18.93 and a 200 day moving average price of $25.35. Lovesac has a 12 month low of $12.12 and a 12 month high of $39.49.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and set a $35.00 price target on shares of Lovesac in a report on Friday. Roth Mkm boosted their price target on shares of Lovesac from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Friday. DA Davidson lowered their price objective on shares of Lovesac from $35.00 to $24.00 and set a “buy” rating for the company in a research report on Friday. Finally, Canaccord Genuity Group cut their target price on Lovesac from $45.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Lovesac has a consensus rating of “Buy” and a consensus target price of $31.67.

Insider Activity

In other Lovesac news, Director Albert Jack Krause sold 30,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $26.33, for a total value of $789,900.00. Following the sale, the director now directly owns 147,849 shares in the company, valued at $3,892,864.17. This trade represents a 16.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.33% of the company’s stock.

About Lovesac

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.