The Lovesac Company designs, manufactures, and sells furniture. 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.
Lovesac Co stock last closed at $22.93, down 7.65% from the previous day, and has decreased 63.77% in one year. It has underperformed other stocks in the Furnishings Fixtures & Appliances industry by 0.25 percentage points. Lovesac Co stock is currently +18.07% from its 52-week low of $19.42, and -73.06% from its 52-week high of $85.13.
At the moment, there are 15.18M LOVE shares outstanding. The market capitalization of LOVE is $348.18M. In the past 24 hours, 406,142 LOVE shares were traded.
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Investors use a variety of different financial metrics, analyses, models, and charts to gauge LOVE's fair value.
Using relative valuations methods:
You can access more valuation analysis on LOVE's stock here.
Out of 5 Wall Street analysts who monitor LOVE, the consensus analyst rating on LOVE is a Strong Buy
Tom Forte, a top 3% analyst from DA Davidson maintains LOVE with a strong buy rating and lowers their LOVE price target from $124.00 to $97.00, on Sep 9, 2022.
Forte lowered his price target on Lovesac Co. by 21.8% following the release of the company's Q2 2023 earnings report on 2022/09/08.
Lovesac's Q2 earnings again demonstrated the "disruptive nature of its business," the analyst stated.
Comparing the company's results to other home furnishing names, Lovesac appears to be taking significant market share, Forte said.
Pointing to the 12% post-earnings decline, the analyst contended that this was because of the timing of revenue recognition on "open-box" inventory* and the short-term impact on EBITDA margin from management's decision to expand the company's fulfillment center capacity.
With that said, Forte told investors he would take advantage of this selloff to buy the stock.
* From here: Open-box items are goods returned by customers, inspected by the retailer, found to be in working order, and re-sold at a discount, rather than returned to the manufacturer.
For Q2 2023, Lovesac reported:
With respect to guidance, CFO Donna Dellomo said in the earnings call: "Regarding our outlook, we continue to operate in a dynamic environment with a wider range of potential outcomes as it relates to FY 2023.
"Given this, we are not providing formal guidance but will provide you with a framework for how we are approaching FY 2023.
"We reiterate that we plan more than 25 showroom openings and continued infrastructure investments to support the substantial multiyear growth opportunity that lies ahead.
"In a scenario where net sales growth for the fiscal year is in the previously discussed low 30% range, third quarter and fourth quarter net sales growth would be approximately 15% and 23% respectively.
"While we continue to expect the gross margin rate to be approximately 300 basis points below fiscal 2022, the decline is expected to be approximately 574 basis points in Q3 and 40 basis points in Q4 over the prior-year quarter.
"Product margin is also estimated to decline by approximately 174 basis points related to higher promotional discounts than the prior year period.
"We have reprioritized and accelerated certain infrastructure spending around the supply chain, technology, and resources to support our strategic growth roadmap. As a result, while adjusted EBITDA for fiscal 2023 is projected to grow in dollars over the prior year, we expect the adjusted EBITDA margin rate to decrease by approximately 100 basis points for fiscal 2023."
Summing up CEO Shawn Nelson said in the earnings press release: "The significant runway we have with our strategic initiatives combined with our focus on disciplined execution gives me confidence in our ability to drive our share gains in any type of macro environment while also accelerating our growth investments as we continue to scale the business.”
Lovesac shares have lost ~54.9% YTD against the S&P 500's 16.5% decline.
Maria Ripps, a bottom 9% analyst from Canaccord Genuity maintains LOVE with a strong buy rating and lowers their LOVE price target from $70.00 to $60.00, on Sep 9, 2022.
Lamont Williams, a bottom 28% analyst from Stifel Nicolaus maintains LOVE with a strong buy rating and lowers their LOVE price target from $90.00 to $72.00, on Sep 9, 2022.
Brian Nagel, a top 5% analyst from Oppenheimer maintains LOVE with a buy rating and lowers their LOVE price target from $95.00 to $60.00, on Sep 9, 2022.
Camilo Lyon, a top 7% analyst from BTIG maintains LOVE with a strong buy rating and lowers their LOVE price target from $100.00 to $80.00, on Jul 21, 2022.
You can dig deeper into what analysts are projecting on the Lovesac Co stock forecast page.
Last year, LOVE earnings were $44.41M. In the last 3 year, LOVE's earnings have grown by 664.19% per year. This was faster than the Furnishings Fixtures & Appliances industry average of 7.49%.
Last year, LOVE revenue was $590.79M. During the last four year, LOVE's revenue has grown by 47.91% per year. This was faster than the Furnishings Fixtures & Appliances industry average of 6.01%.
Dig into LOVE's earnings and revenue performance here.
In the past 12 months, executives and large shareholders at LOVE have sold more shares than they have bought.
Mary Fox, President and COO of LOVE, was the latest LOVE insider to sell. They sold $28,645.76 worth of LOVE shares on Nov 18, 2022.
Get more info about who owns LOVE shares here.
No, Lovesac Co doesn't provide an income stream by paying out dividends.
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