Lovesac (NASDAQ:LOVE) Price Target Raised to $35.00

Lovesac (NASDAQ:LOVE) had its price target hoisted by Roth Mkm from $31.00 to $35.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Canaccord Genuity Group restated a “buy” rating and issued a $36.00 price objective on shares of Lovesac in a report on Friday, September 13th. DA Davidson restated a “buy” rating and set a $32.00 price target on shares of Lovesac in a report on Thursday, October 3rd. Finally, Craig Hallum upped their price objective on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $35.17.

Lovesac Price Performance

Shares of LOVE opened at $35.40 on Tuesday. The company has a market capitalization of $550.82 million, a price-to-earnings ratio of 69.41, a P/E/G ratio of 0.87 and a beta of 2.91. The business’s 50-day moving average is $28.45 and its 200-day moving average is $26.14. Lovesac has a fifty-two week low of $18.21 and a fifty-two week high of $35.58.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings results on Thursday, September 12th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.08. The business had revenue of $156.59 million for the quarter, compared to analysts’ expectations of $154.01 million. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. Equities research analysts expect that Lovesac will post 1.09 earnings per share for the current fiscal year.

Insider Activity at Lovesac

In related news, Director Albert Jack Krause sold 10,000 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total transaction of $262,200.00. Following the transaction, the director now directly owns 177,849 shares in the company, valued at $4,663,200.78. The trade was a 5.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 12.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lovesac

A number of institutional investors have recently bought and sold shares of the business. Barclays PLC raised its stake in shares of Lovesac by 312.7% in the 3rd quarter. Barclays PLC now owns 20,312 shares of the company’s stock valued at $583,000 after buying an additional 15,390 shares in the last quarter. Soltis Investment Advisors LLC lifted its stake in Lovesac by 8.8% during the third quarter. Soltis Investment Advisors LLC now owns 86,170 shares of the company’s stock worth $2,469,000 after purchasing an additional 6,988 shares during the period. Geode Capital Management LLC lifted its stake in Lovesac by 1.2% during the third quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock worth $9,634,000 after purchasing an additional 3,979 shares during the period. MML Investors Services LLC grew its stake in shares of Lovesac by 46.9% in the 3rd quarter. MML Investors Services LLC now owns 138,893 shares of the company’s stock valued at $3,979,000 after purchasing an additional 44,358 shares during the period. Finally, Anson Funds Management LP raised its holdings in shares of Lovesac by 13.9% in the 3rd quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock worth $23,332,000 after buying an additional 99,651 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

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 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.