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

Lemonade, Inc. (NYSE:LMND) has earned a consensus rating of “Reduce” from the eight analysts that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $30.43.

LMND has been the topic of a number of recent analyst reports. BMO Capital Markets raised their target price on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, November 21st. Piper Sandler raised their price objective on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Jefferies Financial Group dropped 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. JMP Securities increased their price target on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $23.00 to $42.00 in a research report on Wednesday, November 20th.

Lemonade Price Performance

NYSE:LMND opened at $49.16 on Thursday. Lemonade has a one year low of $14.03 and a one year high of $53.85. The business has a fifty day moving average price of $24.89 and a 200-day moving average price of $20.22. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of -16.17 and a beta of 1.68.

Lemonade (NYSE:LMND) last issued its quarterly 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 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 quarter in the prior year, the business posted ($0.88) earnings per share. The business’s quarterly revenue was up 19.3% on a year-over-year basis. On average, equities research analysts expect that Lemonade will post -3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Adina Eckstein sold 23,644 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $40.00, for a total transaction of $945,760.00. Following the transaction, the chief operating officer now directly owns 189,653 shares in the company, valued at approximately $7,586,120. This represents a 11.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Maya Prosor sold 30,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $50.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the insider now directly owns 29,286 shares in the company, valued at $1,464,300. This trade represents a 50.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 132,892 shares of company stock worth $5,283,045 over the last three months. 12.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Lemonade

Institutional investors and hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP grew its position in Lemonade by 31.0% in the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock valued at $2,983,000 after acquiring an additional 42,822 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Lemonade by 1,549.0% during the third quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock valued at $324,000 after purchasing an additional 18,480 shares during the period. Millennium Management LLC grew its holdings in shares of Lemonade by 388.7% in the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after purchasing an additional 131,784 shares during the last quarter. Squarepoint Ops LLC increased its stake in Lemonade by 436.2% in the 2nd quarter. Squarepoint Ops LLC now owns 45,573 shares of the company’s stock worth $752,000 after buying an additional 37,073 shares during the period. Finally, Tidal Investments LLC bought a new stake in Lemonade during the 1st quarter valued at about $718,000. 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.