Lemonade (NYSE:LMND) Given New $75.00 Price Target at Citizens Jmp

Lemonade (NYSE:LMND) had its price target cut by stock analysts at Citizens Jmp from $80.00 to $75.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp‘s price target would suggest a potential upside of 88.53% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley dropped their price objective on Lemonade from $56.00 to $48.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a report on Thursday, October 15th. Piper Sandler decreased their target price on Lemonade from $51.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday. Wall Street Zen upgraded Lemonade from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. Finally, Keefe, Bruyette & Woods raised Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price target for the company in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Lemonade presently has an average rating of “Hold” and a consensus target price of $62.38.

Lemonade Price Performance

Shares of NYSE LMND traded down $1.70 during mid-day trading on Friday, hitting $39.78. The company’s stock had a trading volume of 346,954 shares, compared to its average volume of 1,736,513. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of -21.63 and a beta of 1.98. Lemonade has a one year low of $39.31 and a one year high of $99.90. The company’s fifty day simple moving average is $46.94 and its 200-day simple moving average is $57.89.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.02. Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The company had revenue of $336.10 million during the quarter, compared to analysts’ expectations of $322.74 million. During the same quarter in the previous year, the company earned ($0.51) EPS. Lemonade’s revenue was up 72.8% on a year-over-year basis. On average, sell-side analysts predict that Lemonade will post -1.83 EPS for the current year.

Insider Transactions at Lemonade

In related news, insider John Peters sold 2,249 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $54.45, for a total value of $122,458.05. Following the completion of the transaction, the insider directly owned 73,834 shares in the company, valued at approximately $4,020,261.30. The trade was a 2.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Maya Prosor sold 1,040 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $54.63, for a total value of $56,815.20. Following the completion of the transaction, the insider owned 186,533 shares of the company’s stock, valued at $10,190,297.79. This represents a 0.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 15,148 shares of company stock worth $804,250. 12.20% of the stock is currently owned by insiders.

Institutional Trading of Lemonade

Several hedge funds have recently bought and sold shares of the stock. Ameritas Advisory Services LLC acquired a new position in shares of Lemonade in the second quarter valued at approximately $30,000. State of Wyoming bought a new stake in shares of Lemonade during the first quarter worth $42,000. Integrated Wealth Concepts LLC bought a new stake in shares of Lemonade during the second quarter worth $128,000. Sterling Capital Management LLC raised its holdings in shares of Lemonade by 838.3% during the third quarter. Sterling Capital Management LLC now owns 2,374 shares of the company’s stock worth $107,000 after acquiring an additional 2,121 shares during the period. Finally, Nykredit A S acquired a new stake in shares of Lemonade during the second quarter worth $156,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Lemonade

Here are the key news stories impacting Lemonade this week:

• Positive Sentiment: Q3 revenue rose 72.8% year over year to $336.1 million, topping the $322.7 million consensus estimate. The loss of $0.56 per share was also narrower than the $0.58 loss analysts expected. Read More.
• Positive Sentiment: Lemonade forecast Q4 revenue of $342 million to $346 million, above the $341.1 million FactSet estimate, pointing to continued growth. Read More.
• Positive Sentiment: The company completed nationwide availability of renters insurance by launching in Minnesota, expanding the reach of its first product offered in all 50 states and Washington, D.C. Read More.
• Negative Sentiment: Despite the earnings and revenue beats, LMND shares came under pressure after the report. The quarterly loss per share widened from $0.51 a year earlier, while coverage highlighted rising expense headwinds and continued negative profitability as investor concerns. Read More. · Read More.

About Lemonade

Lemonade, Inc is a technology-driven insurance company that offers insurance products through digital platforms, including its mobile application and website. The company uses artificial intelligence, automation and data analytics to support policy purchasing, customer service and claims processing.

Lemonade’s product offerings include renters, homeowners, car, pet and term life insurance. Coverage and product availability vary by jurisdiction, and some policies are provided through regulated insurance subsidiaries or underwritten in partnership with other insurers.

Founded in 2015 by Daniel Schreiber and Shai Wininger, Lemonade serves customers in the United States and selected European markets, including Germany, the Netherlands, France and the United Kingdom.