Lemonade, Inc. (NYSE:LMND) Receives $30.43 Consensus Target Price from Brokerages

Shares of Lemonade, Inc. (NYSE:LMND) have been given an average recommendation of “Reduce” by the eight research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $30.43.

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and raised their target price for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Piper Sandler raised their price objective on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Jefferies Financial Group cut their price objective 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 increased their target price on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Finally, BMO Capital Markets boosted their price target on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 21st.

Lemonade Price Performance

LMND opened at $51.81 on Thursday. The stock’s 50 day simple moving average is $26.18 and its 200 day simple moving average is $20.67. The stock has a market cap of $3.70 billion, a P/E ratio of -17.04 and a beta of 1.68. Lemonade has a 1-year low of $14.03 and a 1-year high of $53.85.

Lemonade (NYSE:LMND) last posted its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.07. The company had revenue of $136.60 million for the quarter, compared to analyst estimates 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 was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.88) earnings per share. Research analysts expect that Lemonade will post -3.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Timothy E. Bixby sold 2,050 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total value of $37,392.00. Following the transaction, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at approximately $4,953,108.48. This trade represents a 0.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Adina Eckstein sold 23,644 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $50.00, for a total value of $1,182,200.00. Following the sale, the chief operating officer now owns 189,653 shares of the company’s stock, valued at $9,482,650. This represents a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 132,892 shares of company stock worth $5,283,045. 12.50% of the stock is owned by company insiders.

Institutional Trading of Lemonade

A number of institutional investors have recently modified their holdings of LMND. Tidal Investments LLC lifted its stake in shares of Lemonade by 4.6% during the third quarter. Tidal Investments LLC now owns 45,631 shares of the company’s stock worth $752,000 after purchasing an additional 2,017 shares in the last quarter. Barclays PLC raised its holdings in shares of Lemonade by 292.5% during the 3rd quarter. Barclays PLC now owns 87,414 shares of the company’s stock valued at $1,443,000 after buying an additional 65,144 shares during the period. Main Management ETF Advisors LLC acquired a new position in Lemonade during the 3rd quarter worth approximately $614,000. State Street Corp boosted its holdings in Lemonade by 1.2% in the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after acquiring an additional 14,028 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in 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. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.