Lemonade (NYSE:LMND) Price Target Raised to $15.00

Lemonade (NYSE:LMND) had its target price hoisted by equities researchers at BMO Capital Markets from $13.00 to $15.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “underperform” rating on the stock. BMO Capital Markets’ target price suggests a potential downside of 69.57% from the company’s previous close.

Other research analysts also recently issued reports about the company. Jefferies Financial Group cut their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. 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. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and upped their price objective for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. Piper Sandler raised their target price on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $23.00 to $42.00 in a research report on Wednesday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Lemonade has a consensus rating of “Hold” and an average target price of $30.43.

Lemonade Stock Down 2.1 %

Shares of LMND opened at $49.29 on Thursday. Lemonade has a 12 month low of $14.03 and a 12 month high of $52.22. The company’s fifty day moving average is $22.98 and its 200-day moving average is $19.51. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of -16.21 and a beta of 1.68.

Lemonade (NYSE:LMND) last posted 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. 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 for the quarter, compared to the consensus estimate of $129.10 million. During the same period in the prior year, the business posted ($0.88) earnings per share. The business’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, research analysts predict that Lemonade will post -3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Adina Eckstein sold 23,644 shares of Lemonade stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the sale, the chief operating officer now owns 189,653 shares of the company’s stock, valued at approximately $9,482,650. This trade represents a 11.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy E. Bixby sold 2,050 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 271,552 shares of the company’s stock, valued at $4,953,108.48. The trade was a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,892 shares of company stock valued at $3,783,045. 12.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lemonade

Several institutional investors and hedge funds have recently bought and sold shares of LMND. State Board of Administration of Florida Retirement System lifted its holdings in shares of Lemonade by 18.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,226 shares of the company’s stock worth $283,000 after acquiring an additional 2,710 shares during the period. Price T Rowe Associates Inc. MD raised its position in Lemonade by 9.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock worth $404,000 after purchasing an additional 2,196 shares in the last quarter. Tidal Investments LLC acquired a new position in Lemonade in the first quarter worth about $718,000. Concurrent Investment Advisors LLC bought a new position in Lemonade during the second quarter worth about $180,000. Finally, Van ECK Associates Corp boosted its holdings in Lemonade by 12.1% during the second quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock valued at $293,000 after purchasing an additional 1,915 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

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.