Wall Street Zen Upgrades Lovesac (NASDAQ:LOVE) to Buy

Lovesac (NASDAQ:LOVE) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued research reports about the company. Weiss Ratings upgraded Lovesac from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. DA Davidson lowered their target price on shares of Lovesac from $20.00 to $18.00 and set a “buy” rating for the company in a report on Friday, September 11th. Roth Capital reaffirmed a “buy” rating on shares of Lovesac in a report on Friday, September 11th. Finally, Canaccord Genuity Group lowered their target price on shares of Lovesac from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, September 10th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.33.

Lovesac Price Performance

LOVE opened at $16.33 on Friday. Lovesac has a fifty-two week low of $10.33 and a fifty-two week high of $19.25. The company has a market capitalization of $235.48 million, a P/E ratio of 13.39, a P/E/G ratio of 0.43 and a beta of 2.11. The firm’s fifty day moving average price is $15.10 and its two-hundred day moving average price is $15.13.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Thursday, September 10th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 2.57% and a net margin of 2.56%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company earned ($0.45) EPS. 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, equities research analysts expect that Lovesac will post 1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Lovesac

Several institutional investors and hedge funds have recently made changes to their positions in the business. SummerHaven Investment Management LLC bought a new position in shares of Lovesac during the 3rd quarter valued at about $502,000. Engineers Gate Manager LP acquired a new position in Lovesac during the 2nd quarter worth about $169,000. HighTower Advisors LLC increased its stake in shares of Lovesac by 303.1% in the 2nd quarter. HighTower Advisors LLC now owns 40,677 shares of the company’s stock valued at $679,000 after acquiring an additional 30,585 shares during the last quarter. Two Sigma Securities LLC acquired a new position in Lovesac during the second quarter worth $180,000. Finally, Penn Capital Management Company LLC acquired a new stake in Lovesac during the 2nd quarter valued at $551,000. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Lovesac Company Profile

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.