Lemonade, Inc. (NYSE:LMND) Given Consensus Rating of “Reduce” by Brokerages

Shares of Lemonade, Inc. (NYSE:LMND) have received a consensus rating of “Reduce” from the eight analysts that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $18.86.

A number of equities analysts recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price target on shares of Lemonade in a research note on Monday, April 15th. Piper Sandler boosted their target price on Lemonade from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Jefferies Financial Group raised their price target on Lemonade from $14.00 to $16.00 and gave the stock an “underperform” rating in a research note on Tuesday, May 7th.

Insiders Place Their Bets

In other news, CFO Timothy E. Bixby acquired 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average cost of $15.51 per share, for a total transaction of $232,650.00. Following the completion of the acquisition, the chief financial officer now directly owns 25,000 shares of the company’s stock, valued at approximately $387,750. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Timothy E. Bixby sold 2,077 shares of Lemonade stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $16.03, for a total value of $33,294.31. Following the transaction, the chief financial officer now directly owns 273,602 shares in the company, valued at approximately $4,385,840.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy E. Bixby purchased 15,000 shares of Lemonade stock in a transaction dated Thursday, June 13th. The stock was bought at an average cost of $15.51 per share, with a total value of $232,650.00. Following the completion of the transaction, the chief financial officer now owns 25,000 shares in the company, valued at approximately $387,750. The disclosure for this purchase can be found here. 12.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lemonade

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Halter Ferguson Financial Inc. purchased a new position in Lemonade during the 4th quarter worth $6,429,000. GSA Capital Partners LLP purchased a new position in shares of Lemonade in the 1st quarter valued at approximately $3,100,000. Cypress Capital Management LLC WY acquired a new stake in Lemonade in the 4th quarter worth approximately $946,000. Tidal Investments LLC acquired a new stake in Lemonade in the 1st quarter worth approximately $718,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Lemonade during the 1st quarter worth approximately $477,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Trading Up 2.3 %

LMND opened at $23.05 on Friday. Lemonade has a 12 month low of $10.27 and a 12 month high of $24.81. The stock has a 50-day moving average of $17.00 and a 200 day moving average of $16.89. The firm has a market cap of $1.63 billion, a P/E ratio of -7.36 and a beta of 1.78.

Lemonade (NYSE:LMND) last released its earnings results on Tuesday, April 30th. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.14. The firm had revenue of $119.10 million for the quarter, compared to the consensus estimate of $114.13 million. Lemonade had a negative return on equity of 30.30% and a negative net margin of 48.14%. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.95) EPS. On average, research analysts forecast that Lemonade will post -2.94 earnings per share for the current fiscal year.

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.