The Lovesac Company (LOVE) Initiated with a Buy at Stifel Nicolaus


Stifel Nicolaus analyst Scott Devitt initiated coverage with a Buy rating on The Lovesac Company (LOVE) today and set a price target of $38. The company’s shares closed yesterday at $30.60.

According to TipRanks.com, Devitt is a top 100 analyst with an average return of 22.3% and a 71.1% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Eventbrite Inc, and Alphabet Inc.

Currently, the analyst consensus on The Lovesac Company is a Strong Buy with an average price target of $42.60, a 39.2% upside from current levels. In a report issued on June 11, Canaccord Genuity also reiterated a Buy rating on the stock with a $49 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $46.79 and a one-year low of $16.46. Currently, The Lovesac Company has an average volume of 197.7K.

Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts