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

Lemonade, Inc. (NYSE:LMND) has been assigned a consensus rating of “Reduce” from the seven research firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $30.43.

Several research firms recently commented on LMND. BMO Capital Markets upped their price target on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 21st. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th. Jefferies Financial Group reduced their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and lifted their price objective for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Finally, Piper Sandler increased their target price on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st.

Lemonade Stock Up 9.0 %

Shares of NYSE:LMND opened at $41.54 on Monday. Lemonade has a 12-month low of $14.03 and a 12-month high of $53.85. The business has a 50 day moving average of $34.10 and a 200-day moving average of $23.42. The stock has a market cap of $2.97 billion, a PE ratio of -13.66 and a beta of 2.09.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share 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 analysts’ expectations of $129.10 million. During the same period last year, the firm posted ($0.88) EPS. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities research analysts expect that Lemonade will post -3.04 earnings per share for the current year.

Insider Buying and Selling at Lemonade

In related news, Director Maria Angelidis-Smith acquired 18,512 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average cost of $27.42 per share, for a total transaction of $507,599.04. Following the transaction, the director now directly owns 18,512 shares in the company, valued at $507,599.04. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 11,263,569 shares in the company, valued at $498,863,471.01. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 869,724 shares of company stock valued at $37,912,082. 12.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lemonade

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp increased its position in Lemonade by 1.2% in the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after acquiring an additional 14,028 shares during the period. Marshall Wace LLP bought a new stake in shares of Lemonade in the second quarter worth $14,181,000. Landscape Capital Management L.L.C. increased its holdings in Lemonade by 17.6% in 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 purchasing an additional 48,260 shares during the period. FMR LLC increased its holdings in Lemonade by 93.0% in the third quarter. FMR LLC now owns 318,321 shares of the company’s stock valued at $5,249,000 after purchasing an additional 153,362 shares during the period. Finally, General Equity Holdings LP bought a new position in Lemonade during the 2nd quarter worth $5,198,000. Institutional investors and hedge funds 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.