The Lovesac Company (NASDAQ:LOVE) Receives $26.20 Average Price Target from Analysts

Shares of The Lovesac Company (NASDAQ:LOVE) have been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $26.20.

LOVE has been the topic of a number of analyst reports. Canaccord Genuity Group cut their price target on Lovesac from $30.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, December 12th. Wall Street Zen downgraded Lovesac from a “hold” rating to a “strong sell” rating in a research report on Saturday, December 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Lovesac in a research note on Monday, December 29th. DA Davidson reduced their target price on shares of Lovesac from $24.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Finally, Maxim Group set a $26.00 price target on shares of Lovesac in a research report on Friday, December 12th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LOVE. Corient Private Wealth LLC purchased a new position in Lovesac during the 2nd quarter worth $2,024,000. Isthmus Partners LLC acquired a new position in Lovesac during the 3rd quarter valued at about $2,348,000. Hood River Capital Management LLC raised its stake in Lovesac by 17.4% in the second quarter. Hood River Capital Management LLC now owns 989,117 shares of the company’s stock valued at $18,002,000 after buying an additional 146,911 shares during the last quarter. Divisadero Street Capital Management LP acquired a new stake in Lovesac in the second quarter worth about $694,000. Finally, AWM Investment Company Inc. grew its stake in shares of Lovesac by 7.2% during the second quarter. AWM Investment Company Inc. now owns 730,960 shares of the company’s stock worth $13,303,000 after acquiring an additional 49,219 shares during the last quarter. Institutional investors own 91.32% of the company’s stock.

Lovesac Stock Up 0.1%

Shares of LOVE stock opened at $10.71 on Tuesday. The firm has a market cap of $156.58 million, a price-to-earnings ratio of 46.57, a PEG ratio of 0.35 and a beta of 2.35. Lovesac has a 52-week low of $10.37 and a 52-week high of $21.90. The company’s 50 day moving average is $13.24 and its 200 day moving average is $14.50.

Lovesac Company Profile

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.