Lovesac (NASDAQ:LOVE) Releases Earnings Results, Beats Estimates By $0.33 EPS

Lovesac (NASDAQ:LOVE - Get Free Report) released its quarterly earnings results on Thursday. The company reported $2.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.80 by $0.33, Zacks reports. The firm had revenue of $241.50 million for the quarter, compared to the consensus estimate of $230.33 million. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The company's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the business posted $1.87 EPS.

Lovesac Trading Down 0.3 %

Shares of NASDAQ:LOVE traded down $0.06 during mid-day trading on Tuesday, reaching $19.14. The stock had a trading volume of 535,162 shares, compared to its average volume of 364,172. The company has a market cap of $295.39 million, a P/E ratio of 56.29, a price-to-earnings-growth ratio of 0.65 and a beta of 3.08. The business's 50 day moving average price is $18.84 and its 200 day moving average price is $25.27. Lovesac has a 1 year low of $12.12 and a 1 year high of $39.49.

Insider Buying and Selling at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 30,000 shares of Lovesac stock in a transaction on Friday, January 17th. The shares were sold at an average price of $26.33, for a total value of $789,900.00. Following the completion of the transaction, the director now directly owns 147,849 shares of the company's stock, valued at $3,892,864.17. This trade represents a 16.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 12.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Oppenheimer reaffirmed an "outperform" rating and set a $35.00 price target on shares of Lovesac in a report on Friday. Canaccord Genuity Group cut their price target on Lovesac from $45.00 to $30.00 and set a "buy" rating for the company in a research note on Friday. Roth Mkm boosted their price objective on Lovesac from $22.00 to $28.00 and gave the company a "buy" rating in a research report on Friday. Finally, DA Davidson cut their target price on Lovesac from $35.00 to $24.00 and set a "buy" rating for the company in a research report on Friday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $31.67.

About Lovesac

The Lovesac Company designs, manufactures, and sells furniture. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and other products comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans. The company markets its products primarily through www.lovesac.com website, as well as showrooms at top tier malls, lifestyle centers, mobile concierges, kiosks, and street locations in 41 states in the United States; and in store pop-up- shops and shop-in-shops, and barter inventory transactions.