Lemonade (NYSE:LMND) Reaches New 12-Month High Following Analyst Upgrade

Lemonade, Inc. (NYSE:LMND) shares hit a new 52-week high during mid-day trading on Monday after JMP Securities raised their price target on the stock from $40.00 to $60.00. JMP Securities currently has a market outperform rating on the stock. Lemonade traded as high as $53.85 and last traded at $52.69, with a volume of 1721407 shares. The stock had previously closed at $49.28.

A number of other equities research analysts have also commented on the stock. Morgan Stanley raised shares of 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 research note on Wednesday, November 20th. BMO Capital Markets boosted their price objective on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and raised their target price for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. Jefferies Financial Group cut their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. Finally, Piper Sandler lifted their price objective on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.43.

Insider Buying and Selling

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of Lemonade stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total transaction of $37,392.00. Following the completion of the transaction, the chief financial officer now owns 271,552 shares in the company, valued at approximately $4,953,108.48. The trade was a 0.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maya Prosor sold 20,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.00, for a total value of $600,000.00. Following the completion of the sale, the insider now directly owns 59,286 shares of the company’s stock, valued at approximately $1,778,580. This trade represents a 25.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 132,892 shares of company stock worth $5,283,045 in the last ninety days. Corporate 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 company. State Board of Administration of Florida Retirement System lifted its position in shares of Lemonade by 18.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,226 shares of the company’s stock worth $283,000 after buying an additional 2,710 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Lemonade by 9.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock valued at $404,000 after purchasing an additional 2,196 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Lemonade during the 1st quarter worth $718,000. Concurrent Investment Advisors LLC purchased a new position in shares of Lemonade in the 2nd quarter worth about $180,000. Finally, Van ECK Associates Corp grew its position in Lemonade by 12.1% during the second quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock valued at $293,000 after buying an additional 1,915 shares during the period. 80.30% of the stock is owned by institutional investors.

Lemonade Price Performance

The firm has a market cap of $3.56 billion, a PE ratio of -16.42 and a beta of 1.68. The business’s fifty day moving average is $24.27 and its 200-day moving average is $20.02.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping 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 company had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter in the previous year, the firm posted ($0.88) EPS. Lemonade’s revenue was up 19.3% on a year-over-year basis. Analysts forecast that Lemonade, Inc. will post -3.05 EPS for the current year.

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.