Lemonade (NYSE:LMND) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Lemonade (NYSE:LMND) had its price objective upped by research analysts at Morgan Stanley from $15.00 to $23.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s price target would suggest a potential downside of 27.56% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. JMP Securities reissued a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a research report on Tuesday, October 15th. Jefferies Financial Group decreased 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 downgraded Lemonade from a “market perform” rating to an “underperform” rating and lifted their price target for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. Finally, Piper Sandler increased their target price on Lemonade from $18.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.33.

Lemonade Stock Down 0.8 %

LMND stock opened at $31.75 on Friday. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -10.44 and a beta of 1.68. The company’s fifty day simple moving average is $20.06 and its 200 day simple moving average is $18.48. Lemonade has a 12-month low of $14.03 and a 12-month high of $34.95.

Lemonade (NYSE:LMND) last released 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 business had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.88) earnings per share. Research analysts expect that Lemonade will post -3.05 earnings per share for the current year.

Insider Transactions at Lemonade

In related news, CFO Timothy E. Bixby sold 2,050 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total value of $37,392.00. Following the completion of the sale, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at approximately $4,953,108.48. This represents a 0.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Maria Angelidis-Smith purchased 15,042 shares of the stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $33.23 per share, for a total transaction of $499,845.66. Following the acquisition, the director now directly owns 33,554 shares of the company’s stock, valued at approximately $1,114,999.42. This represents a 81.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its holdings in Lemonade by 220.0% during the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after buying an additional 1,879 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Lemonade by 321.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after buying an additional 3,403 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Lemonade by 1,647.6% in the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock valued at $150,000 after acquiring an additional 8,584 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in Lemonade in the second quarter worth about $180,000. Finally, Bristlecone Advisors LLC bought a new stake in Lemonade during the third quarter worth approximately $218,000. Institutional investors 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.