Canaccord Genuity analyst Maria Ripps maintained a Buy rating on The Lovesac Company (LOVE) yesterday and set a price target of $60.00. The company’s shares closed last Tuesday at $41.68, close to its 52-week high of $46.26.
According to TipRanks.com, Ripps is a top 100 analyst with an average return of 65.6% and a 73.3% success rate. Ripps covers the Technology sector, focusing on stocks such as Spotify Technology SA, Zillow Group Class A, and Alphabet Class A.
Currently, the analyst consensus on The Lovesac Company is a Strong Buy with an average price target of $48.25, which is a 19.9% upside from current levels. In a report issued on December 24, Oppenheimer also assigned a Buy rating to the stock with a $40.00 price target.
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The Lovesac Company’s market cap is currently $592.5M and has a P/E ratio of -359.10. The company has a Price to Book ratio of 7.56.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LOVE in relation to earlier this year.
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The Lovesac Co. is a technology driven, omni-channel company. It designs, manufactures, and sells furniture comprised of modular couches called sactionals and foam beanbag chairs called sacs. Its products include sactionals, sacs, and accessories. The company was founded by Shawn David Nelson in 1995 and is headquartered in Stamford, CT.
