Lemonade (NYSE:LMND) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Lemonade (NYSE:LMND) had its price objective hoisted by investment analysts at Keefe, Bruyette & Woods from $40.00 to $44.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential downside of 10.34% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Morgan Stanley set a $85.00 target price on shares of Lemonade and gave the company an “equal weight” rating in a research note on Tuesday, December 16th. Piper Sandler set a $65.00 price objective on Lemonade in a report on Thursday. Citigroup reaffirmed an “outperform” rating on shares of Lemonade in a report on Friday, January 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a report on Thursday, January 22nd. Finally, Truist Financial began coverage on shares of Lemonade in a report on Tuesday, January 6th. They set a “buy” rating and a $98.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $72.29.

Lemonade Price Performance

Shares of Lemonade stock traded down $1.43 during trading on Tuesday, reaching $49.08. 1,615,805 shares of the stock traded hands, compared to its average volume of 2,778,109. The business has a fifty day simple moving average of $76.99 and a two-hundred day simple moving average of $66.47. Lemonade has a 52-week low of $24.31 and a 52-week high of $99.90. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of -21.71 and a beta of 2.02.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Thursday, February 19th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.12. Lemonade had a negative return on equity of 31.25% and a negative net margin of 22.43%.The business had revenue of $228.10 million during the quarter, compared to analyst estimates of $218.07 million. During the same period last year, the company earned ($0.42) EPS. The company’s revenue for the quarter was up 53.3% on a year-over-year basis. On average, research analysts predict that Lemonade will post -3.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Lemonade

In other news, COO Adina Eckstein sold 41,557 shares of Lemonade stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $78.95, for a total transaction of $3,280,925.15. Following the completion of the sale, the chief operating officer directly owned 204,229 shares in the company, valued at approximately $16,123,879.55. This trade represents a 16.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Debra Schwartz sold 4,200 shares of Lemonade stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $83.59, for a total value of $351,078.00. Following the transaction, the director directly owned 21,567 shares of the company’s stock, valued at approximately $1,802,785.53. This represents a 16.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 246,742 shares of company stock valued at $21,729,370. 12.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bayforest Capital Ltd bought a new stake in Lemonade during the third quarter valued at $25,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Lemonade by 8,080.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock valued at $29,000 after buying an additional 404 shares during the period. Strategic Advocates LLC bought a new stake in shares of Lemonade during the 3rd quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Lemonade during the fourth quarter worth about $33,000. Finally, Torren Management LLC acquired a new position in Lemonade in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds 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.