Lemonade (NYSE:LMND) Price Target Raised to $60.00 at JMP Securities

Lemonade (NYSE:LMND) had its price target lifted by analysts at JMP Securities from $40.00 to $60.00 in a report released on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target suggests a potential upside of 21.75% from the company’s current price.

Several other equities analysts have also weighed in on the company. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $23.00 to $42.00 in a report on Wednesday. Piper Sandler increased their price objective on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday. Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and boosted their target price for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. BMO Capital Markets upped their target price on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday. Finally, 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 report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Lemonade presently has a consensus rating of “Hold” and a consensus target price of $30.43.

Lemonade Stock Performance

NYSE:LMND opened at $49.28 on Friday. The company has a market capitalization of $3.52 billion, a P/E ratio of -16.21 and a beta of 1.68. The stock’s 50 day moving average price is $22.98 and its 200 day moving average price is $19.52. Lemonade has a 52 week low of $14.03 and a 52 week high of $52.22.

Lemonade (NYSE:LMND) last posted its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping 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 company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.88) earnings per share. As a group, sell-side analysts forecast that Lemonade will post -3.05 earnings per share for the current fiscal year.

Insider Transactions at Lemonade

In related news, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total transaction of $37,392.00. Following the transaction, the chief financial officer now directly owns 271,552 shares in the company, valued at $4,953,108.48. The trade was a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Adina Eckstein sold 23,644 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 189,653 shares of the company’s stock, 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. Insiders sold a total of 102,892 shares of company stock worth $3,783,045 over the last three months. 12.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lemonade

A number of institutional investors have recently bought and sold shares of LMND. State Board of Administration of Florida Retirement System boosted its holdings in Lemonade by 18.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 17,226 shares of the company’s stock valued at $283,000 after purchasing an additional 2,710 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Lemonade by 9.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock worth $404,000 after buying an additional 2,196 shares during the period. Tidal Investments LLC acquired a new stake in Lemonade in the 1st quarter valued at $718,000. Concurrent Investment Advisors LLC bought a new stake in Lemonade in the second quarter valued at $180,000. Finally, Van ECK Associates Corp raised its stake in Lemonade by 12.1% during the second quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock worth $293,000 after acquiring an additional 1,915 shares in the last quarter. Institutional investors and hedge funds 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.