Lemonade, Inc. (NYSE:LMND) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Lemonade, Inc. (NYSE:LMND) have earned an average recommendation of “Reduce” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $21.83.

A number of brokerages have recently issued reports on LMND. Piper Sandler boosted their price target on shares of Lemonade from $18.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Jefferies Financial Group reduced their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. JMP Securities restated a “market outperform” rating and set a $40.00 price target on shares of Lemonade in a research report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and upped their price objective for the company from $18.00 to $21.00 in a report on Thursday.

Insider Buying and Selling

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total transaction of $37,392.00. Following the completion of the sale, the chief financial officer now directly owns 271,552 shares in the company, valued at $4,953,108.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in shares of Lemonade by 220.0% during the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after acquiring an additional 1,879 shares in the last quarter. Quest Partners LLC increased its stake in Lemonade by 1,647.6% in the third quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock worth $150,000 after purchasing an additional 8,584 shares during the period. Concurrent Investment Advisors LLC purchased a new position in shares of Lemonade during the second quarter valued at $180,000. Capstone Investment Advisors LLC purchased a new position in shares of Lemonade during the first quarter valued at $214,000. Finally, Bristlecone Advisors LLC purchased a new position in shares of Lemonade during the third quarter valued at $218,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Lemonade Stock Down 6.7 %

Shares of Lemonade stock opened at $27.32 on Friday. Lemonade has a twelve month low of $13.72 and a twelve month high of $29.41. The company has a 50-day simple moving average of $18.58 and a two-hundred day simple moving average of $17.91. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -9.09 and a beta of 1.68.

Lemonade (NYSE:LMND) last released its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.07. The firm had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.88) EPS. On average, sell-side analysts anticipate that Lemonade will post -3 earnings per share for the current fiscal year.

About Lemonade

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.