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Lovesac (LOVE) Soars 8.2%: Is Further Upside Left in the Stock?
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Lovesac (LOVE - Free Report) shares ended the last trading session 8.2% higher at $48.27. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.4% gain over the past four weeks.
The company has been banking on growth across all sales channels, backed by its recently launched Mobile Concierge service and unique business model with a concentrated sku count and manufacturing spread across multiple geographies.
This company is expected to post quarterly earnings of $0.54 per share in its upcoming report, which represents a year-over-year change of -60.6%. Revenues are expected to be $175.56 million, up 35.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Lovesac, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on LOVE going forward to see if this recent jump can turn into more strength down the road.
Lovesac is a member of the Zacks Retail - Home Furnishings industry. One other stock in the same industry, Fortune Brands Home & Security , finished the last trading session 0.7% higher at $86.93. FBHS has returned -3.5% over the past month.
Fortune Brands Home & Security's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.24. Compared to the company's year-ago EPS, this represents a change of -8.8%. Fortune Brands Home & Security currently boasts a Zacks Rank of #3 (Hold).
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Lovesac (LOVE) Soars 8.2%: Is Further Upside Left in the Stock?
Lovesac (LOVE - Free Report) shares ended the last trading session 8.2% higher at $48.27. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.4% gain over the past four weeks.
The company has been banking on growth across all sales channels, backed by its recently launched Mobile Concierge service and unique business model with a concentrated sku count and manufacturing spread across multiple geographies.
This company is expected to post quarterly earnings of $0.54 per share in its upcoming report, which represents a year-over-year change of -60.6%. Revenues are expected to be $175.56 million, up 35.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Lovesac, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on LOVE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Lovesac is a member of the Zacks Retail - Home Furnishings industry. One other stock in the same industry, Fortune Brands Home & Security , finished the last trading session 0.7% higher at $86.93. FBHS has returned -3.5% over the past month.
Fortune Brands Home & Security's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.24. Compared to the company's year-ago EPS, this represents a change of -8.8%. Fortune Brands Home & Security currently boasts a Zacks Rank of #3 (Hold).