Lemonade, Inc. (NYSE:LMND) Receives Consensus Recommendation of “Reduce” from Analysts

Lemonade, Inc. (NYSE:LMND) has received an average recommendation of “Reduce” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $32.67.

Several research firms have commented on LMND. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and boosted their price target for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. BMO Capital Markets raised their price objective on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 21st. Jefferies Financial Group cut their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Piper Sandler increased their target price on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley upgraded 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.

Lemonade Stock Up 3.8 %

LMND stock opened at $33.03 on Friday. The business has a fifty day moving average of $39.98 and a two-hundred day moving average of $26.04. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -10.87 and a beta of 2.17. Lemonade has a 52-week low of $14.03 and a 52-week high of $53.85.

Lemonade (NYSE:LMND) last announced its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The company had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. During the same quarter in the previous year, the company earned ($0.88) earnings per share. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lemonade will post -3.04 EPS for the current year.

Insider Buying and Selling

In related news, insider John Sheldon Peters sold 28,985 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $38.67, for a total transaction of $1,120,849.95. Following the completion of the sale, the insider now directly owns 69,508 shares of the company’s stock, valued at $2,687,874.36. This trade represents a 29.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the completion of the transaction, the insider now directly owns 11,263,569 shares in the company, valued at $498,863,471.01. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 900,499 shares of company stock valued at $39,114,376 over the last quarter. 12.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lemonade

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its stake in shares of Lemonade by 220.0% in the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after buying an additional 1,879 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Lemonade by 321.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after purchasing an additional 3,403 shares in the last quarter. Quest Partners LLC grew its stake in shares of Lemonade by 1,647.6% during the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock worth $150,000 after purchasing an additional 8,584 shares during the period. Bristlecone Advisors LLC purchased a new position in shares of Lemonade in the 3rd quarter valued at about $218,000. Finally, Johnson & White Wealth Management LLC acquired a new stake in shares of Lemonade in the fourth quarter valued at about $234,000. 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.