Analysts expect The Lovesac Company (NASDAQ:LOVE) to announce $118.80 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for The Lovesac’s earnings, with the highest sales estimate coming in at $120.50 million and the lowest estimate coming in at $116.01 million. The Lovesac posted sales of $92.18 million during the same quarter last year, which suggests a positive year over year growth rate of 28.9%. The business is expected to issue its next quarterly earnings report before the market opens on Wednesday, April 14th.

On average, analysts expect that The Lovesac will report full-year sales of $309.86 million for the current financial year, with estimates ranging from $307.07 million to $311.60 million. For the next year, analysts anticipate that the business will report sales of $383.47 million, with estimates ranging from $375.90 million to $394.70 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow The Lovesac.

A number of analysts recently issued reports on LOVE shares. Canaccord Genuity boosted their price target on The Lovesac from $35.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, December 9th. BTIG Research boosted their price target on The Lovesac from $49.00 to $62.00 and gave the company a “buy” rating in a report on Friday, January 8th. Zacks Investment Research upgraded The Lovesac from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Tuesday, March 16th. Oppenheimer reiterated a “buy” rating and issued a $60.00 price target on shares of The Lovesac in a report on Tuesday, January 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $66.00 price objective on shares of The Lovesac in a research note on Monday, March 15th. Eight analysts have rated the stock with a buy rating, The Lovesac currently has a consensus rating of “Buy” and a consensus price target of $53.00.

Shares of LOVE stock opened at $59.30 on Thursday. The stock has a market capitalization of $870.70 million, a price-to-earnings ratio of -456.15, a price-to-earnings-growth ratio of 13.79 and a beta of 2.58. The stock’s 50-day moving average price is $58.24 and its 200-day moving average price is $43.34. The Lovesac has a 12-month low of $4.12 and a 12-month high of $66.00.

In other news, CEO Shawn David Nelson sold 6,000 shares of the company’s stock in a transaction on Tuesday, January 19th. The stock was sold at an average price of $49.34, for a total transaction of $296,040.00. Following the transaction, the chief executive officer now directly owns 118,523 shares of the company’s stock, valued at $5,847,924.82. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Andrew R. Heyer sold 78,200 shares of the company’s stock in a transaction on Friday, January 8th. The stock was sold at an average price of $46.48, for a total value of $3,634,736.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 591,398 shares of company stock worth $31,368,011. Insiders own 31.31% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Strs Ohio increased its position in shares of The Lovesac by 2,742.9% during the third quarter. Strs Ohio now owns 19,900 shares of the company’s stock worth $551,000 after purchasing an additional 19,200 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of The Lovesac by 2.9% during the fourth quarter. Federated Hermes Inc. now owns 687,655 shares of the company’s stock valued at $29,631,000 after buying an additional 19,649 shares during the last quarter. Hood River Capital Management LLC grew its holdings in shares of The Lovesac by 13.0% during the fourth quarter. Hood River Capital Management LLC now owns 771,620 shares of the company’s stock valued at $33,249,000 after buying an additional 88,729 shares during the last quarter. Swiss National Bank purchased a new stake in shares of The Lovesac during the fourth quarter valued at $1,060,000. Finally, BlackRock Inc. grew its holdings in shares of The Lovesac by 9.4% during the fourth quarter. BlackRock Inc. now owns 718,294 shares of the company’s stock valued at $30,950,000 after buying an additional 61,498 shares during the last quarter. 84.16% of the stock is currently owned by institutional investors and hedge funds.

About The Lovesac

The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. The company 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.

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Earnings History and Estimates for The Lovesac (NASDAQ:LOVE)

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