Lemonade (NYSE:LMND) Given New $44.00 Price Target at Piper Sandler

Lemonade (NYSE:LMND) had its price objective increased by Piper Sandler from $25.00 to $44.00 in a report issued on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

LMND has been the subject of a number of other reports. Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and raised their price target for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. Jefferies Financial Group decreased their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. JMP Securities restated a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a report on Tuesday, October 15th. Finally, Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $23.00 to $42.00 in a report on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Lemonade presently has a consensus rating of “Hold” and a consensus price target of $30.43.

Lemonade Trading Down 2.1 %

Shares of Lemonade stock opened at $49.28 on Thursday. Lemonade has a 12 month low of $14.03 and a 12 month high of $52.22. The stock has a 50 day moving average of $22.98 and a 200 day moving average of $19.54. The firm has a market cap of $3.52 billion, a PE ratio of -16.21 and a beta of 1.68.

Lemonade (NYSE:LMND) last announced 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. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The firm had revenue of $136.60 million during the quarter, compared to the consensus estimate of $129.10 million. During the same quarter last year, the firm earned ($0.88) EPS. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, equities research analysts forecast that Lemonade will post -3.05 earnings per share for the current fiscal year.

Insider Activity

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total transaction of $37,392.00. Following the transaction, the chief financial officer now owns 271,552 shares in the company, valued at approximately $4,953,108.48. This represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Adina Eckstein sold 23,644 shares of the business’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 of the company’s stock, valued at $7,586,120. This trade represents a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,892 shares of company stock valued at $3,783,045 in the last quarter. 12.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lemonade

A number of large investors have recently added to or reduced their stakes in LMND. Blue Trust Inc. increased its stake in shares of Lemonade by 220.0% during the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after purchasing an additional 1,879 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Lemonade by 321.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after acquiring an additional 3,403 shares in the last quarter. Quest Partners LLC lifted its position in shares of Lemonade by 1,647.6% in the third quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock valued at $150,000 after acquiring an additional 8,584 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Lemonade during the second quarter worth approximately $180,000. Finally, Bristlecone Advisors LLC acquired a new position in Lemonade in the 3rd quarter valued at $218,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

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.