Lovesac (NASDAQ:LOVE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Lovesac (NASDAQ:LOVE) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

LOVE has been the subject of several other research reports. Weiss Ratings raised shares of Lovesac from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Roth Capital reissued a “buy” rating on shares of Lovesac in a research report on Friday, September 11th. Canaccord Genuity Group cut their target price on Lovesac from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, September 10th. Finally, DA Davidson cut their target price on Lovesac from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, September 11th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.33.

Lovesac Stock Performance

Shares of NASDAQ LOVE opened at $16.77 on Friday. The stock has a market cap of $241.82 million, a price-to-earnings ratio of 13.75, a PEG ratio of 0.41 and a beta of 2.17. The business has a 50 day simple moving average of $15.12 and a 200 day simple moving average of $15.14. Lovesac has a 52 week low of $10.33 and a 52 week high of $19.25.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings data on Thursday, September 10th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.87. The firm had revenue of $161.25 million for the quarter, compared to analyst estimates of $161.55 million. Lovesac had a net margin of 2.56% and a return on equity of 2.57%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.45) earnings per share. Lovesac has set its Q3 2027 guidance at 0.620-0.830 EPS and its FY 2027 guidance at 0.980-1.260 EPS. On average, analysts predict that Lovesac will post 1.08 EPS for the current year.

Hedge Funds Weigh In On Lovesac

Institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Lovesac during the 2nd quarter worth $20,250,000. AWM Investment Company Inc. bought a new stake in Lovesac during the second quarter valued at about $10,188,000. Kanen Wealth Management LLC acquired a new stake in shares of Lovesac in the first quarter valued at about $8,064,000. Senvest Management LLC grew its position in shares of Lovesac by 36.7% in the first quarter. Senvest Management LLC now owns 1,025,393 shares of the company’s stock valued at $15,145,000 after purchasing an additional 275,252 shares during the last quarter. Finally, Bastion Asset Management Inc. grew its position in shares of Lovesac by 193.6% in the first quarter. Bastion Asset Management Inc. now owns 356,097 shares of the company’s stock valued at $5,290,000 after purchasing an additional 234,812 shares during the last quarter. Institutional investors own 91.32% of the company’s stock.

About Lovesac

The Lovesac Company designs, manufactures and sells furniture and home accessories focused on modularity, durability and reconfigurability. Its primary products include Sactionals, modular seating systems that can be arranged in multiple configurations, and Sacs, oversized beanbag-style seats made with specialized foam filling. The company also offers complementary products such as pillows, blankets, tables, covers and other accessories.

Lovesac sells its products through an omnichannel model that includes company-operated showrooms, its e-commerce website and select third-party retail partners.