JMP Securities Issues Positive Forecast for Lemonade (NYSE:LMND) Stock Price

Lemonade (NYSE:LMND) had its price objective increased by JMP Securities from $40.00 to $60.00 in a research report sent to investors on Friday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $23.00 to $42.00 in a research report on Wednesday, November 20th. BMO Capital Markets lifted their target price on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 21st. Jefferies Financial Group dropped their price target on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Piper Sandler lifted their price target 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. Finally, Keefe, Bruyette & Woods cut shares of Lemonade from a “market perform” rating to an “underperform” rating and lifted their price target for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. Three 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.43.

Lemonade Stock Up 3.5 %

Shares of LMND opened at $51.01 on Friday. The company has a market capitalization of $3.64 billion, a P/E ratio of -16.78 and a beta of 1.68. The firm has a 50 day moving average of $23.64 and a 200 day moving average of $19.78. Lemonade has a twelve month low of $14.03 and a twelve month high of $53.85.

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

Insider Activity at Lemonade

In related news, Director Maria Angelidis-Smith sold 33,554 shares of Lemonade stock in a transaction on Friday, November 8th. The shares were sold at an average price of $30.33, for a total transaction of $1,017,692.82. Following the transaction, the director now owns 40,916 shares in the company, valued at approximately $1,240,982.28. The trade was a 45.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adina Eckstein sold 23,644 shares of Lemonade stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the transaction, the chief operating officer now owns 189,653 shares in the company, valued at approximately $9,482,650. This trade represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 132,892 shares of company stock worth $5,283,045. 12.50% of the stock is owned by corporate insiders.

Institutional Trading of Lemonade

Several hedge funds have recently bought and sold shares of LMND. State Board of Administration of Florida Retirement System lifted its stake in Lemonade by 18.7% in 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 purchasing an additional 2,710 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Lemonade by 9.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock worth $404,000 after purchasing an additional 2,196 shares in the last quarter. Tidal Investments LLC purchased a new stake in Lemonade in the 1st quarter worth $718,000. Concurrent Investment Advisors LLC purchased a new stake in Lemonade in the 2nd quarter worth $180,000. Finally, Van ECK Associates Corp lifted its stake in Lemonade by 12.1% in the 2nd quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock worth $293,000 after purchasing an additional 1,915 shares in the last quarter. Hedge funds and other 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.