Lemonade (NYSE:LMND) Price Target Lowered to $80.00 at Citizens Jmp

Lemonade (NYSE:LMND) had its price objective cut by Citizens Jmp from $85.00 to $80.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a market outperform rating on the stock.

Other analysts also recently issued reports about the stock. Cantor Fitzgerald boosted their target price on shares of Lemonade from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Truist Financial dropped their target price on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a report on Tuesday, April 21st. Citigroup reiterated an “outperform” rating on shares of Lemonade in a report on Friday, January 16th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Lemonade from $40.00 to $44.00 and gave the stock an “underperform” rating in a report on Tuesday, February 24th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $64.88.

Lemonade Price Performance

NYSE LMND opened at $56.76 on Thursday. The company’s 50 day simple moving average is $60.07 and its 200 day simple moving average is $68.32. Lemonade has a 12 month low of $28.47 and a 12 month high of $99.90. The company has a market capitalization of $4.36 billion, a P/E ratio of -30.35 and a beta of 2.04.

Lemonade (NYSE:LMND) last released its earnings results on Wednesday, April 29th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.11. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.42%. The business had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. During the same period in the previous year, the firm earned ($0.86) EPS. The business’s revenue for the quarter was up 70.6% on a year-over-year basis. On average, analysts anticipate that Lemonade will post -1.74 earnings per share for the current year.

Insider Buying and Selling

In related news, insider John Sheldon Peters sold 3,571 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $52.50, for a total transaction of $187,477.50. Following the transaction, the insider directly owned 76,729 shares of the company’s stock, valued at approximately $4,028,272.50. The trade was a 4.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 5,567 shares of company stock worth $287,517 over the last quarter. Insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bayforest Capital Ltd bought a new stake in Lemonade in the third quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Lemonade by 8,080.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock worth $29,000 after buying an additional 404 shares during the last quarter. Strategic Advocates LLC acquired a new stake in shares of Lemonade in the third quarter worth $33,000. Northwestern Mutual Wealth Management Co. acquired a new position in Lemonade during the 4th quarter valued at $33,000. Finally, Torren Management LLC acquired a new position in Lemonade during the 4th quarter valued at $35,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Lemonade Company Profile

Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.