BTIG raises PT on Lovesac after Q4 sales top Street estimates

Lovesac Co

30/03/2022 10:54

** BTIG raises PT on home furnishing brand  LOVE.O  to $118
from $113, implying an upside of ~107% on the stock's last close
    ** Says co posted another impressive quarter in the backdrop
of a challenging and volatile macroeconomic environment 
    ** LOVE shares surged on Tuesday after Q4 net sales
increased 51.3%, topping Street estimates on robust demand for
its home decor products  urn:newsml:reuters.com:*:nL3N2VW2L9  urn:newsml:reuters.com:*:nGNXbbJ8BY
    ** Brokerage reiterates 'buy' rating; says "digital revenue
growth of 23% was also strong for yet another quarter" 
    ** Adds co has successfully shifted its resources to support
online sales and has built customer engagement channels on
social media helping drive revenue 
    ** Seven brokerages rate the stock "buy" or higher; their
median PT is $110 - Refinitiv data
    ** As of last close, shares have shed ~14% this year 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))