Lemonade, Inc. (NYSE:LMND) Receives $32.67 Consensus PT from Brokerages

Lemonade, Inc. (NYSE:LMND) has received a consensus recommendation of “Reduce” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $32.67.

A number of research firms have recently weighed in on LMND. Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and boosted their target price for the stock from $18.00 to $21.00 in a research report on Thursday, November 7th. BMO Capital Markets boosted their target price on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 21st. JMP Securities upped their price objective on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Jefferies Financial Group dropped their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Finally, Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $23.00 to $42.00 in a report on Wednesday, November 20th.

Lemonade Price Performance

LMND opened at $32.81 on Friday. Lemonade has a fifty-two week low of $14.03 and a fifty-two week high of $53.85. The business has a 50-day moving average of $40.18 and a 200-day moving average of $26.27. The company has a market capitalization of $2.34 billion, a PE ratio of -10.79 and a beta of 2.17.

Lemonade (NYSE:LMND) last announced its quarterly earnings data 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 company had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. Lemonade’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.88) EPS. On average, equities research analysts expect that Lemonade will post -3.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Lemonade

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the transaction, the insider now owns 11,263,569 shares in the company, valued at $498,863,471.01. This trade represents a 6.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maria Angelidis-Smith acquired 18,512 shares of the stock in a transaction on Friday, November 8th. The shares were bought at an average price of $27.42 per share, for a total transaction of $507,599.04. Following the purchase, the director now owns 18,512 shares in the company, valued at approximately $507,599.04. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 900,499 shares of company stock worth $39,114,376 over the last 90 days. Company insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Hedge funds have recently modified their holdings of the company. Avior Wealth Management LLC acquired a new stake in shares of Lemonade during the 4th quarter valued at $40,000. Blue Trust Inc. raised its position in 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 purchasing an additional 1,879 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in Lemonade by 321.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after purchasing an additional 3,403 shares during the last quarter. Quest Partners LLC raised its position in Lemonade by 1,647.6% during the 3rd 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 last quarter. Finally, Bristlecone Advisors LLC bought a new position in Lemonade during the 3rd quarter worth $218,000. Institutional investors and hedge funds 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.