Stifel analyst Scott Devitt downgraded Lovesac to Hold from Buy with a price target of $13, down from $32. The company reported lower than expected revenue growth in fiscal Q3 and has experienced a sustained deceleration in revenue growth over the past few quarters, Devitt tells investors in a research note. The analyst reduced Lovesac's revenue growth estimates for 2020 and beyond while increasing costs to account for the company's continued ramp in sales/marketing, infrastructure, and store initiatives. The retailer is showing less momentum than anticipated, he contends.