Piper Sandler Forecasts Strong Price Appreciation for Lemonade (NYSE:LMND) Stock

Lemonade (NYSE:LMND) had its price objective boosted by investment analysts at Piper Sandler from $25.00 to $44.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential downside of 10.73% from the company’s current price.

A number of other analysts have also commented on the company. JMP Securities restated a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a report on Tuesday, October 15th. Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and upped their price target for the stock from $18.00 to $21.00 in a research report on Thursday, November 7th. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $23.00 to $42.00 in a report on Wednesday. Finally, Jefferies Financial Group reduced their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.43.

Lemonade Stock Performance

LMND opened at $49.29 on Thursday. The firm has a market cap of $3.52 billion, a PE ratio of -16.21 and a beta of 1.68. Lemonade has a twelve month low of $14.03 and a twelve month high of $52.22. The firm’s fifty day moving average is $22.98 and its two-hundred day moving average is $19.51.

Lemonade (NYSE:LMND) last announced 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 firm had revenue of $136.60 million for 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 business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the company posted ($0.88) EPS. Equities analysts forecast that Lemonade will post -3.05 EPS for the current fiscal year.

Insider Transactions at Lemonade

In other Lemonade news, insider Maya Prosor sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.00, for a total value of $600,000.00. Following the sale, the insider now owns 59,286 shares in the company, valued at $1,778,580. This represents a 25.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy E. Bixby sold 2,050 shares of Lemonade stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total value of $37,392.00. Following the transaction, the chief financial officer now owns 271,552 shares of the company’s stock, valued at $4,953,108.48. This represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 102,892 shares of company stock worth $3,783,045 in the last ninety days. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Large investors have recently modified their holdings of the stock. Marshall Wace LLP bought a new stake in shares of Lemonade during the second quarter worth approximately $14,181,000. General Equity Holdings LP bought a new stake in Lemonade in the 2nd quarter valued at $5,198,000. FMR LLC grew its holdings in Lemonade by 93.0% in the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock valued at $5,249,000 after buying an additional 153,362 shares in the last quarter. Millennium Management LLC increased its position in Lemonade by 388.7% during the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after buying an additional 131,784 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Lemonade during the third quarter worth $1,571,000. 80.30% of the stock is owned by institutional investors.

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.