Lemonade (NYSE:LMND) Price Target Raised to $44.00

Lemonade (NYSE:LMND) had its price objective raised by Piper Sandler from $25.00 to $44.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target would indicate a potential downside of 10.73% from the stock’s current price.

Several other analysts have also issued reports on the stock. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and increased their price target for the stock from $18.00 to $21.00 in a research report on Thursday, November 7th. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $23.00 to $42.00 in a research note on Wednesday. JMP Securities restated a “market outperform” rating and set a $40.00 price objective on shares of Lemonade in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group decreased their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $30.43.

Lemonade Price Performance

Lemonade stock opened at $49.29 on Thursday. The stock’s fifty day moving average price is $22.98 and its two-hundred day moving average price is $19.51. The firm has a market cap of $3.52 billion, a PE ratio of -16.21 and a beta of 1.68. Lemonade has a one year low of $14.03 and a one year high of $52.22.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. The business had revenue of $136.60 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm earned ($0.88) earnings per share. Sell-side analysts expect that Lemonade will post -3.05 earnings per share for the current fiscal year.

Insider Activity at Lemonade

In related news, COO Adina Eckstein sold 23,644 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the transaction, the chief operating officer now directly owns 189,653 shares of the company’s stock, valued at approximately $9,482,650. This represents a 11.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy E. Bixby sold 2,050 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total value of $37,392.00. Following the completion of the sale, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at $4,953,108.48. This trade represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,892 shares of company stock worth $3,783,045 in the last quarter. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Barclays PLC lifted its position in Lemonade by 292.5% in the 3rd quarter. Barclays PLC now owns 87,414 shares of the company’s stock valued at $1,443,000 after acquiring an additional 65,144 shares in the last quarter. Main Management ETF Advisors LLC bought a new position in shares of Lemonade in the third quarter valued at approximately $614,000. State Street Corp boosted its position in shares of Lemonade by 1.2% during the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after buying an additional 14,028 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in Lemonade by 321.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after buying an additional 3,403 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Lemonade in the 3rd quarter valued at $1,571,000. 80.30% of the stock is owned by institutional investors.

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.