JMP Securities Issues Positive Forecast for Lemonade (NYSE:LMND) Stock Price

Lemonade (NYSE:LMND) had its price objective upped by JMP Securities from $40.00 to $60.00 in a research note released on Friday,Benzinga reports. The firm currently has a market outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. BMO Capital Markets boosted their price target on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and upped their target price for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Jefferies Financial Group dropped their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th. Finally, Piper Sandler upped their target price on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Lemonade presently has a consensus rating of “Hold” and an average target price of $30.43.

Lemonade Trading Down 2.1 %

NYSE:LMND opened at $49.28 on Friday. Lemonade has a 1-year low of $14.03 and a 1-year high of $52.22. The stock has a market cap of $3.52 billion, a P/E ratio of -16.21 and a beta of 1.68. The stock has a 50 day simple moving average of $22.98 and a 200 day simple moving average of $19.54.

Lemonade (NYSE:LMND) last announced its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The firm had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. During the same quarter in the prior year, the business posted ($0.88) EPS. The business’s revenue was up 19.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Lemonade will post -3.05 EPS for the current year.

Insider Buying and Selling at Lemonade

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total transaction of $37,392.00. Following the completion of the transaction, the chief financial officer now owns 271,552 shares in the company, valued at $4,953,108.48. This trade represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Maria Angelidis-Smith sold 33,554 shares of Lemonade stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $30.33, for a total transaction of $1,017,692.82. Following the completion of the transaction, the director now owns 40,916 shares of the company’s stock, valued at $1,240,982.28. This represents a 45.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,892 shares of company stock worth $3,783,045. Insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP boosted its holdings in Lemonade by 31.0% in the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock valued at $2,983,000 after purchasing an additional 42,822 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Lemonade by 1,549.0% in the 3rd quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock valued at $324,000 after purchasing an additional 18,480 shares in the last quarter. Millennium Management LLC boosted its holdings in Lemonade by 388.7% during the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after acquiring an additional 131,784 shares during the period. Squarepoint Ops LLC increased its stake in Lemonade by 436.2% in the 2nd quarter. Squarepoint Ops LLC now owns 45,573 shares of the company’s stock worth $752,000 after purchasing an additional 37,073 shares during the period. Finally, Tidal Investments LLC bought a new stake in Lemonade in the first quarter valued at approximately $718,000. Institutional investors own 80.30% of the company’s stock.

Lemonade Company Profile

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.