JMP Securities Reiterates Market Outperform Rating for Lemonade (NYSE:LMND)

Lemonade (NYSE:LMND)‘s stock had its “market outperform” rating restated by equities research analysts at JMP Securities in a research note issued on Tuesday, Benzinga reports. They presently have a $40.00 price objective on the stock. JMP Securities’ price target would indicate a potential upside of 108.33% from the company’s current price.

Separately, Jefferies Financial Group dropped their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.17.

Lemonade Price Performance

Shares of LMND stock opened at $19.20 on Tuesday. The stock’s 50 day simple moving average is $17.41 and its two-hundred day simple moving average is $17.45. Lemonade has a 1 year low of $10.27 and a 1 year high of $24.55. The company has a market cap of $1.35 billion, a PE ratio of -6.13 and a beta of 1.77.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, July 30th. The company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.07. Lemonade had a negative return on equity of 30.34% and a negative net margin of 44.24%. The business had revenue of $122.00 million during the quarter, compared to analyst estimates of $121.77 million. During the same period in the previous year, the company posted ($0.97) EPS. Lemonade’s revenue was up 16.6% on a year-over-year basis. Equities research analysts expect that Lemonade will post -3.04 EPS for the current year.

Insider Activity

In related news, CFO Timothy E. Bixby sold 2,050 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total value of $37,392.00. Following the completion of the transaction, the chief financial officer now owns 271,552 shares of the company’s stock, valued at approximately $4,953,108.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Several large investors have recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in shares of Lemonade in the second quarter valued at approximately $14,181,000. General Equity Holdings LP acquired a new stake in shares of Lemonade in the second quarter valued at $5,198,000. GSA Capital Partners LLP acquired a new stake in shares of Lemonade in the first quarter valued at $3,100,000. Millennium Management LLC increased its holdings in Lemonade by 388.7% in the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after buying an additional 131,784 shares during the last quarter. Finally, Caxton Associates LP purchased a new position in Lemonade in the second quarter valued at $737,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

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.