Lovesac analysts cut price targets after earnings
Canaccord Genuity lowered its target on Lovesac to $20 from $22, while DA Davidson cut its target to $18 from $20 after the company’s quarterly report.
The Lovesac Company (NASDAQ: LOVE) said Thursday its second-quarter fiscal 2027 results were mixed. 485 million estimate. 4% year over year. 09 estimate.
275 million estimate. 835 million estimate, and a GAAP loss of 62 cents-83 cents per share compared with an estimated 53-cent loss. Chief Executive Officer Shawn David Nelson said second-quarter results reflected a record Q2 performance and were within the company’s guidance range despite a choppy category backdrop. He said Lovesac continued to execute with discipline, build the brand and invest in innovation to drive long-term results, adding that the high end of the business remained a source of strength as customers configure larger setups and add value enhancers.
65 on Friday. Following the earnings announcement, analysts adjusted their price targets on Lovesac. Canaccord Genuity analyst Maria Ripps kept a Buy rating and cut the price target from $22 to $20. DA Davidson analyst Michael Baker also kept a Buy rating and lowered the price target from $20 to $18.