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Lovesac Co (NASDAQ:LOVE) Expected to Post Quarterly Sales of $54.29 Million

Equities analysts expect Lovesac Co (NASDAQ:LOVE) to announce $54.29 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Lovesac’s earnings, with estimates ranging from $54.00 million to $54.57 million. Lovesac posted sales of $41.69 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 30.2%. The business is scheduled to issue its next earnings results on Tuesday, December 17th.

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On average, analysts expect that Lovesac will report full year sales of $239.17 million for the current financial year, with estimates ranging from $238.11 million to $240.10 million. For the next fiscal year, analysts forecast that the firm will post sales of $319.41 million, with estimates ranging from $312.20 million to $332.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Lovesac.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Wednesday, September 11th. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.20. Lovesac had a negative net margin of 4.06% and a negative return on equity of 9.23%. The company had revenue of $48.10 million during the quarter, compared to the consensus estimate of $47.78 million. The firm’s revenue was up 44.9% on a year-over-year basis.

LOVE has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Lovesac from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Thursday. Oppenheimer started coverage on shares of Lovesac in a research report on Thursday, August 8th. They issued an “outperform” rating and a $30.00 price target for the company. Stifel Nicolaus restated a “buy” rating and set a $32.00 price objective on shares of Lovesac in a research report on Wednesday, September 11th. ValuEngine upgraded shares of Lovesac from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Canaccord Genuity restated a “buy” rating and set a $33.00 price objective on shares of Lovesac in a research report on Tuesday, September 17th. Eight investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target of $32.86.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wasatch Advisors Inc. raised its position in Lovesac by 9.0% during the second quarter. Wasatch Advisors Inc. now owns 596,754 shares of the company’s stock valued at $18,541,000 after purchasing an additional 49,244 shares in the last quarter. BlackRock Inc. raised its position in Lovesac by 44.1% during the second quarter. BlackRock Inc. now owns 430,739 shares of the company’s stock valued at $13,383,000 after purchasing an additional 131,791 shares in the last quarter. Vanguard Group Inc. raised its position in Lovesac by 36.3% during the second quarter. Vanguard Group Inc. now owns 391,068 shares of the company’s stock valued at $12,150,000 after purchasing an additional 104,219 shares in the last quarter. Skylands Capital LLC raised its position in Lovesac by 94.4% during the third quarter. Skylands Capital LLC now owns 314,400 shares of the company’s stock valued at $5,870,000 after purchasing an additional 152,652 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Lovesac by 84.3% during the third quarter. Russell Investments Group Ltd. now owns 210,762 shares of the company’s stock valued at $3,934,000 after purchasing an additional 96,407 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

NASDAQ LOVE opened at $14.01 on Friday. Lovesac has a 1-year low of $13.11 and a 1-year high of $46.79. The company has a 50 day moving average of $16.57 and a 200-day moving average of $24.14.

About Lovesac

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 and Estimates for Lovesac (NASDAQ:LOVE)

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