Craig Hallum Lowers Lovesac (NASDAQ:LOVE) Price Target to $100.00

Lovesac (NASDAQ:LOVEGet Rating) had its target price dropped by stock analysts at Craig Hallum to $100.00 in a research report issued on Thursday, Stock Target Advisor reports. Craig Hallum’s price target points to a potential upside of 215.26% from the stock’s current price.

A number of other research analysts also recently commented on LOVE. Zacks Investment Research downgraded Lovesac from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 1st. BTIG Research lowered their target price on Lovesac to $100.00 in a research report on Thursday. Stifel Nicolaus lowered their target price on Lovesac from $110.00 to $90.00 in a research report on Thursday. DA Davidson lowered their target price on Lovesac from $135.00 to $124.00 in a research report on Wednesday, June 1st. Finally, Canaccord Genuity Group lowered their target price on Lovesac from $104.00 to $70.00 in a research report on Thursday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $94.44.

LOVE traded down $3.90 during trading on Thursday, reaching $31.72. 1,089,355 shares of the company traded hands, compared to its average volume of 468,866. Lovesac has a 12-month low of $26.05 and a 12-month high of $92.51. The firm has a fifty day simple moving average of $41.82 and a 200 day simple moving average of $50.03. The company has a market cap of $479.77 million, a P/E ratio of 11.13, a PEG ratio of 0.34 and a beta of 2.45.

Lovesac (NASDAQ:LOVEGet Rating) last announced its quarterly earnings data on Wednesday, June 8th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.32. Lovesac had a net margin of 9.21% and a return on equity of 23.39%. The business had revenue of $129.40 million during the quarter, compared to analyst estimates of $114.81 million. During the same period last year, the firm posted $0.13 EPS. The company’s revenue was up 56.1% on a year-over-year basis. On average, equities research analysts predict that Lovesac will post 3.16 earnings per share for the current year.

In other news, CEO Shawn David Nelson sold 7,000 shares of Lovesac stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $49.43, for a total transaction of $346,010.00. Following the completion of the sale, the chief executive officer now directly owns 151,623 shares in the company, valued at $7,494,724.89. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Shirley Romig sold 2,300 shares of Lovesac stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $49.38, for a total value of $113,574.00. Following the sale, the director now owns 5,816 shares of the company’s stock, valued at $287,194.08. The disclosure for this sale can be found here. 8.66% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Lovesac by 63.9% during the second quarter. Royal Bank of Canada now owns 1,067 shares of the company’s stock valued at $85,000 after buying an additional 416 shares during the period. Morgan Stanley increased its stake in shares of Lovesac by 77.8% during the second quarter. Morgan Stanley now owns 192,677 shares of the company’s stock valued at $15,373,000 after buying an additional 84,340 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Lovesac by 15.0% during the third quarter. Goldman Sachs Group Inc. now owns 67,614 shares of the company’s stock valued at $4,468,000 after buying an additional 8,822 shares during the period. Geode Capital Management LLC increased its stake in shares of Lovesac by 5.5% during the third quarter. Geode Capital Management LLC now owns 210,752 shares of the company’s stock valued at $13,928,000 after buying an additional 11,016 shares during the period. Finally, Credit Suisse AG increased its stake in shares of Lovesac by 15.6% during the third quarter. Credit Suisse AG now owns 8,936 shares of the company’s stock valued at $592,000 after buying an additional 1,207 shares during the period. Institutional investors and hedge funds own 97.12% of the company’s stock.

About Lovesac (Get Rating)

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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