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

Shares of Lemonade, Inc. (NYSE:LMND) have been assigned an average rating of “Reduce” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $32.67.

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

Insiders Place Their Bets

In other Lemonade news, COO Adina Eckstein sold 23,644 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $50.00, for a total value of $1,182,200.00. Following the sale, the chief operating officer now directly owns 189,653 shares in the company, valued at approximately $9,482,650. This trade represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Sheldon Peters sold 28,985 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $38.67, for a total transaction of $1,120,849.95. Following the completion of the transaction, the insider now directly owns 69,508 shares of the company’s stock, valued at $2,687,874.36. This trade represents a 29.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 900,499 shares of company stock valued at $39,114,376. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avior Wealth Management LLC bought a new position in Lemonade in the fourth quarter valued at approximately $40,000. Blue Trust Inc. raised its holdings in shares of Lemonade by 220.0% in the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after purchasing an additional 1,879 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Lemonade by 321.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after purchasing an additional 3,403 shares in the last quarter. Johnson & White Wealth Management LLC acquired a new position in Lemonade during the fourth quarter worth $234,000. Finally, Quest Partners LLC grew its position in Lemonade by 1,647.6% in the third quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock valued at $150,000 after purchasing an additional 8,584 shares in the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.

Lemonade Stock Down 1.4 %

Shares of NYSE LMND opened at $32.37 on Friday. Lemonade has a 12 month low of $14.03 and a 12 month high of $53.85. The company has a market cap of $2.31 billion, a P/E ratio of -10.65 and a beta of 2.17. The business’s 50 day moving average is $40.15 and its two-hundred day moving average is $26.46.

Lemonade (NYSE:LMND) last released its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same period in the prior year, the company earned ($0.88) EPS. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. Sell-side analysts expect that Lemonade will post -3.04 earnings per share for the current fiscal year.

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.