Lemonade (NYSE:LMND) Price Target Raised to $92.00

Lemonade (NYSE:LMND) had its price objective lifted by Cantor Fitzgerald from $85.00 to $92.00 in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods increased their price objective on Lemonade from $35.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, November 25th. Truist Financial started coverage on Lemonade in a report on Tuesday, January 6th. They set a “buy” rating and a $98.00 target price for the company. Morgan Stanley set a $85.00 price target on shares of Lemonade and gave the company an “equal weight” rating in a report on Tuesday, December 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research report on Wednesday, October 8th. Finally, Citizens Jmp raised their target price on shares of Lemonade from $60.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Monday, November 24th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $71.50.

Lemonade Trading Down 1.0%

LMND stock opened at $79.39 on Wednesday. The firm’s 50-day moving average price is $76.68 and its two-hundred day moving average price is $59.92. Lemonade has a 12-month low of $24.31 and a 12-month high of $88.88. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of -33.22 and a beta of 1.98.

Lemonade (NYSE:LMND) last posted its earnings results on Wednesday, November 5th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.21. The company had revenue of $194.50 million during the quarter, compared to analyst estimates of $185.06 million. Lemonade had a negative net margin of 26.39% and a negative return on equity of 31.86%. Lemonade’s revenue for the quarter was up 42.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.95) earnings per share. Equities analysts predict that Lemonade will post -3.03 EPS for the current year.

Insider Buying and Selling at Lemonade

In related news, Director Debra Schwartz sold 4,200 shares of Lemonade stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $83.59, for a total transaction of $351,078.00. Following the completion of the transaction, the director directly owned 21,567 shares of the company’s stock, valued at $1,802,785.53. This trade represents a 16.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Sheldon Peters sold 18,930 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $72.77, for a total transaction of $1,377,536.10. Following the sale, the insider directly owned 83,467 shares in the company, valued at $6,073,893.59. The trade was a 18.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 170,725 shares of company stock valued at $13,064,465. 14.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lemonade

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its position in shares of Lemonade by 30.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,506,171 shares of the company’s stock worth $187,685,000 after purchasing an additional 825,522 shares in the last quarter. BIT Capital GmbH raised its stake in Lemonade by 69.3% during the third quarter. BIT Capital GmbH now owns 1,254,345 shares of the company’s stock valued at $67,145,000 after buying an additional 513,424 shares during the last quarter. Jump Financial LLC raised its stake in Lemonade by 365.8% during the second quarter. Jump Financial LLC now owns 581,378 shares of the company’s stock valued at $25,470,000 after buying an additional 456,571 shares during the last quarter. Halter Ferguson Financial Inc. boosted its holdings in Lemonade by 101.3% in the third quarter. Halter Ferguson Financial Inc. now owns 575,906 shares of the company’s stock worth $30,828,000 after acquiring an additional 289,803 shares in the last quarter. Finally, Analyst IMS Investment Management Services Ltd. grew its stake in shares of Lemonade by 80.7% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 571,768 shares of the company’s stock worth $25,049,000 after acquiring an additional 255,368 shares during the last quarter. Institutional investors own 80.30% of the company’s stock.

Lemonade Company Profile

Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.