Canaccord lowered the firm’s price target on Lovesac (LOVE) to $24 from $30 and keeps a Buy rating on the shares. The firm noted they reported soft fiscal Q3 results, with total revenue roughly flat year-over-year and coming in slightly below the lower end of guidance, while adj. EBITDA was below consensus but within the guidance range. While estimates now appear de-risked, Canaccord expects ongoing product and platform innovation to support a gradual improvement in fundamentals as category spending stabilizes.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LOVE:
- Lovesac’s Earnings Call: Innovations Amid Challenges
- Midday Fly By: Disney invests $1B in OpenAI, Oracle reports mixed Q2
- Morning Movers: Oracle continues to slide despite earnings beat
- Lovesac down 15% in pre-market at $11.70 after Q3 results, below-consensus guide
- Lovesac reports Q3 EPS (72c) vs. (32c) last year