Lemonade (NYSE:LMND) Stock Rating Upgraded by Morgan Stanley

Morgan Stanley upgraded shares of Lemonade (NYSE:LMND) from an underweight rating to an equal weight rating in a research note released on Wednesday, Marketbeat reports. They currently have $42.00 price objective on the stock, up from their previous price objective of $23.00.

A number of other equities analysts also recently weighed in on LMND. Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and upped their target price for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Jefferies Financial Group cut their price objective 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 raised their target price on Lemonade from $18.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, JMP Securities reissued a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a report on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Lemonade currently has a consensus rating of “Hold” and an average target price of $30.43.

Lemonade Price Performance

NYSE:LMND opened at $49.28 on Wednesday. Lemonade has a one year low of $14.03 and a one year high of $52.22. The company has a market cap of $3.52 billion, a PE ratio of -16.21 and a beta of 1.68. The firm has a 50-day moving average of $22.98 and a 200-day moving average of $19.52.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $136.60 million during the quarter, compared to the consensus estimate of $129.10 million. During the same quarter in the prior year, the company posted ($0.88) earnings per share. Lemonade’s revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts expect that Lemonade will post -3.05 earnings per share for the current fiscal year.

Insider Transactions at Lemonade

In other news, COO Adina Eckstein sold 23,644 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $50.00, for a total value of $1,182,200.00. Following the completion of the sale, the chief operating officer now owns 189,653 shares of the company’s stock, valued at approximately $9,482,650. This represents a 11.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at $4,953,108.48. This represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 102,892 shares of company stock valued at $3,783,045 in the last quarter. Insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

Several hedge funds and other institutional investors have recently bought and sold shares of LMND. State Street Corp raised its position in Lemonade by 1.2% during the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after purchasing an additional 14,028 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Lemonade during the second quarter valued at approximately $14,181,000. Landscape Capital Management L.L.C. raised its holdings in shares of Lemonade by 17.6% during the third quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock valued at $5,308,000 after acquiring an additional 48,260 shares in the last quarter. FMR LLC lifted its stake in Lemonade by 93.0% in the third quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after acquiring an additional 153,362 shares during the period. Finally, General Equity Holdings LP bought a new stake in Lemonade in the second quarter valued at $5,198,000. Institutional investors own 80.30% of the company’s stock.

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.