$115.45 Million in Sales Expected for The Lovesac Company (NASDAQ:LOVE) This Quarter

Analysts expect that The Lovesac Company (NASDAQ:LOVEGet Rating) will report sales of $115.45 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Lovesac’s earnings. The highest sales estimate is $116.70 million and the lowest is $114.25 million. Lovesac posted sales of $82.92 million during the same quarter last year, which indicates a positive year over year growth rate of 39.2%. The company is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Lovesac will report full year sales of $652.87 million for the current year, with estimates ranging from $647.32 million to $658.90 million. For the next year, analysts expect that the firm will post sales of $766.29 million, with estimates ranging from $755.30 million to $777.27 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Lovesac.

Lovesac (NASDAQ:LOVEGet Rating) last issued its earnings results on Tuesday, March 29th. The company reported $2.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $1.49. The business had revenue of $196.20 million during the quarter, compared to analyst estimates of $174.34 million. Lovesac had a return on equity of 23.39% and a net margin of 9.21%. Lovesac’s revenue was up 51.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.37 EPS.

Several research analysts have recently commented on LOVE shares. BTIG Research boosted their price target on Lovesac from $113.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, March 30th. Zacks Investment Research raised Lovesac from a “hold” rating to a “strong-buy” rating and set a $62.00 price target for the company in a research report on Saturday, April 2nd. Finally, DA Davidson boosted their price target on Lovesac from $111.00 to $135.00 in a research report on Wednesday, March 30th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Lovesac presently has a consensus rating of “Buy” and a consensus price target of $104.25.

In other Lovesac news, insider Albert Jack Krause sold 2,500 shares of the business’s stock in a transaction dated Friday, January 14th. The stock was sold at an average price of $55.06, for a total transaction of $137,650.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Shawn David Nelson sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $49.43, for a total value of $346,010.00. The disclosure for this sale can be found here. Corporate insiders own 16.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of LOVE. Newbridge Financial Services Group Inc. purchased a new stake in Lovesac during the 4th quarter valued at about $27,000. Atticus Wealth Management LLC purchased a new stake in shares of Lovesac in the third quarter worth about $40,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Lovesac in the fourth quarter worth about $70,000. Royal Bank of Canada boosted its stake in shares of Lovesac by 63.9% in the second quarter. Royal Bank of Canada now owns 1,067 shares of the company’s stock worth $85,000 after buying an additional 416 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Lovesac by 145.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the company’s stock worth $129,000 after buying an additional 1,154 shares during the last quarter.

LOVE opened at $47.37 on Wednesday. The firm has a market cap of $716.47 million, a price-to-earnings ratio of 16.62, a PEG ratio of 0.43 and a beta of 2.44. Lovesac has a 12 month low of $35.07 and a 12 month high of $95.51. The stock has a fifty day moving average price of $45.32 and a 200-day moving average price of $60.22.

Lovesac Company Profile (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, foot sac blankets, decorative pillows, fitted seat tables, and ottomans. As of January 31, 2021, the Company operated 108 showrooms.

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Earnings History and Estimates for Lovesac (NASDAQ:LOVE)

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