Lovesac (NASDAQ:LOVE) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Lovesac (NASDAQ:LOVE) announced its quarterly earnings results on Thursday. The company reported ($0.46) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.03), Briefing.com reports. The firm had revenue of $52.10 million for the quarter, compared to analysts’ expectations of $54.29 million. Lovesac had a negative return on equity of 9.23% and a negative net margin of 4.06%. Lovesac’s revenue for the quarter was up 24.9% on a year-over-year basis. Lovesac updated its FY 2020
Pre-Market guidance to EPS.

LOVE stock opened at $10.74 on Friday. Lovesac has a 1 year low of $10.33 and a 1 year high of $46.79. The stock’s 50 day moving average price is $15.14 and its 200 day moving average price is $21.40.

Several equities research analysts have recently commented on LOVE shares. Zacks Investment Research raised Lovesac from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Thursday, November 21st. Canaccord Genuity reissued a “buy” rating and set a $33.00 price target on shares of Lovesac in a research note on Tuesday, September 17th. Stifel Nicolaus lowered Lovesac from a “buy” rating to a “hold” rating and decreased their price target for the stock from $32.00 to $13.00 in a research note on Thursday. Roth Capital decreased their price target on Lovesac from $47.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, Craig Hallum decreased their price target on Lovesac from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $28.00.

Lovesac Company Profile

The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans.

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Earnings History for Lovesac (NASDAQ:LOVE)

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