Fintel reports that on April 17, 2024, Maxim Group initiated coverage of Lovesac (NasdaqGM:LOVE) with a Buy recommendation.
Analyst Price Forecast Suggests 118.23% Upside
As of March 31, 2024, the average one-year price target for Lovesac is 42.23. The forecasts range from a low of 24.24 to a high of $63.00. The average price target represents an increase of 118.23% from its latest reported closing price of 19.35.
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The projected annual revenue for Lovesac is 822MM, an increase of 17.35%. The projected annual non-GAAP EPS is 6.11.
What is the Fund Sentiment?
There are 278 funds or institutions reporting positions in Lovesac. This is a decrease of 3 owner(s) or 1.07% in the last quarter. Average portfolio weight of all funds dedicated to LOVE is 0.08%, an increase of 17.33%. Total shares owned by institutions decreased in the last three months by 4.41% to 16,715K shares. 
The put/call ratio of LOVE is 0.47, indicating a bullish outlook.
What are Other Shareholders Doing?
Granahan Investment Management holds 1,427K shares representing 9.21% ownership of the company. In it's prior filing, the firm reported owning 1,446K shares, representing a decrease of 1.37%. The firm increased its portfolio allocation in LOVE by 17.31% over the last quarter.
FCPGX - Fidelity Small Cap Growth Fund holds 747K shares representing 4.82% ownership of the company. In it's prior filing, the firm reported owning 805K shares, representing a decrease of 7.85%. The firm increased its portfolio allocation in LOVE by 4.45% over the last quarter.
Hood River Capital Management holds 722K shares representing 4.66% ownership of the company. In it's prior filing, the firm reported owning 1,148K shares, representing a decrease of 58.99%. The firm decreased its portfolio allocation in LOVE by 30.90% over the last quarter.
Janus Henderson Group holds 609K shares representing 3.93% ownership of the company. In it's prior filing, the firm reported owning 611K shares, representing a decrease of 0.47%. The firm decreased its portfolio allocation in LOVE by 61.94% over the last quarter.
JAVTX - Janus Henderson Venture Fund Class T holds 556K shares representing 3.59% ownership of the company. No change in the last quarter.
Lovesac Background Information
(This description is provided by the company.)
Based in Stamford, Connecticut, The Lovesac Company is a technology driven company that designs, manufactures and sells unique, high quality furniture derived through its proprietary 'Designed for Life' approach which results in products that are built to last a lifetime and designed to evolve as its customers' lives do. Its current product offering is comprised of modular couches called Sactionals, premium foam beanbag chairs called Sacs, and their associated home decor accessories. Innovation is at the center of its design philosophy with all of its core products protected by a robust portfolio of utility patents. The company markets and sells its products primarily online directly at www.lovesac.com, supported by direct-to-consumer touch-feel points in the form of its own showrooms as well as through shop-in-shops and pop-up-shops with third party retailers.
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