Lemonade, Inc. (NYSE:LMND) Receives $30.43 Average PT from Analysts

Lemonade, Inc. (NYSE:LMND) has received an average rating of “Reduce” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $30.43.

A number of research analysts have commented on LMND shares. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and raised their target price for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. Jefferies Financial Group cut their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. Piper Sandler boosted their price objective on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. JMP Securities increased their target price on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Finally, BMO Capital Markets raised their price target on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 21st.

Lemonade Stock Performance

Shares of NYSE LMND opened at $51.81 on Thursday. Lemonade has a 52-week low of $14.03 and a 52-week high of $53.85. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of -17.04 and a beta of 1.68. The stock has a 50 day moving average price of $26.18 and a 200 day moving average price of $20.67.

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

Insiders Place Their Bets

In other news, CFO Timothy E. Bixby sold 2,050 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total value of $37,392.00. Following the completion of the transaction, the chief financial officer now directly 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 SEC, which is available through the SEC website. Also, COO Adina Eckstein sold 23,644 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.00, for a total value of $945,760.00. Following the completion of the sale, the chief operating officer now owns 189,653 shares in the company, valued at approximately $7,586,120. This represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,892 shares of company stock valued at $5,283,045. 12.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Lemonade

Several institutional investors and hedge funds have recently bought and sold shares of LMND. Marshall Wace LLP acquired a new position in Lemonade during the second quarter valued at $14,181,000. General Equity Holdings LP acquired a new position in shares of Lemonade in the 2nd quarter valued at about $5,198,000. FMR LLC boosted its stake in shares of Lemonade by 93.0% in the third quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after buying an additional 153,362 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Lemonade by 388.7% in the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after buying an additional 131,784 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Lemonade during the third quarter worth about $1,571,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

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.