Analysts Set Lemonade, Inc. (NYSE:LMND) Target Price at $30.43

Lemonade, Inc. (NYSE:LMND) has received an average rating of “Reduce” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $30.43.

LMND has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and lifted their target price for the stock from $18.00 to $21.00 in a research report on Thursday, November 7th. Piper Sandler lifted their price target on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $23.00 to $42.00 in a report on Wednesday, November 20th. Jefferies Financial Group lowered their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Finally, JMP Securities upped their price target on shares of Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd.

Insider Activity at Lemonade

In related news, Director Maria Angelidis-Smith bought 18,512 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was bought at an average price of $27.42 per share, with a total value of $507,599.04. Following the completion of the transaction, the director now directly owns 18,512 shares of the company’s stock, valued at approximately $507,599.04. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $44.29, for a total value of $31,880,606.35. Following the transaction, the insider now directly owns 11,263,569 shares in the company, valued at $498,863,471.01. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 871,514 shares of company stock worth $37,993,527. 12.50% of the stock is owned by insiders.

Institutional Trading of Lemonade

A number of hedge funds and other institutional investors have recently modified their holdings of LMND. Blue Trust Inc. grew its position in shares of Lemonade by 220.0% during the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after buying an additional 1,879 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in Lemonade by 321.3% during the 3rd 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 during the last quarter. Quest Partners LLC grew its holdings in 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 acquiring an additional 8,584 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of Lemonade in the 2nd quarter worth about $180,000. Finally, Bristlecone Advisors LLC acquired a new stake in shares of Lemonade in the 3rd quarter valued at about $218,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Lemonade Stock Performance

Shares of Lemonade stock opened at $41.27 on Monday. The business has a 50-day simple moving average of $35.44 and a 200-day simple moving average of $23.94. The company has a market cap of $2.95 billion, a PE ratio of -13.58 and a beta of 2.08. Lemonade has a one year low of $14.03 and a one year high of $53.85.

Lemonade (NYSE:LMND) last issued its 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 firm had revenue of $136.60 million during the quarter, compared to the consensus estimate of $129.10 million. During the same quarter in the previous year, the firm posted ($0.88) earnings per share. The company’s revenue was up 19.3% compared to the same quarter last year. On average, sell-side analysts predict that Lemonade will post -3.04 earnings per share for the current fiscal year.

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.