Lemonade (NYSE:LMND) Sets New 52-Week High After Analyst Upgrade

Lemonade, Inc. (NYSE:LMND)’s stock price hit a new 52-week high on Monday after JMP Securities raised their price target on the stock from $40.00 to $60.00. JMP Securities currently has a market outperform rating on the stock. Lemonade traded as high as $53.85 and last traded at $52.69, with a volume of 1721407 shares trading hands. The stock had previously closed at $49.28.

Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and increased their price objective for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. BMO Capital Markets raised their price objective on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday. Piper Sandler raised their price target on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $23.00 to $42.00 in a report on Wednesday, November 20th. Finally, Jefferies Financial Group reduced their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.43.

Insider Buying and Selling

In other news, Director Maria Angelidis-Smith sold 33,554 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $30.33, for a total value of $1,017,692.82. Following the completion of the sale, the director now directly owns 40,916 shares of the company’s stock, valued at $1,240,982.28. This represents a 45.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adina Eckstein sold 23,644 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the transaction, the chief operating officer now directly owns 189,653 shares in the company, valued at $9,482,650. The trade was a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 102,892 shares of company stock worth $3,783,045 in the last ninety days. 12.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LMND. GSA Capital Partners LLP grew its position in Lemonade by 31.0% in the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after purchasing an additional 42,822 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Lemonade by 1,549.0% in the 3rd quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock valued at $324,000 after acquiring an additional 18,480 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Lemonade by 388.7% in the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after purchasing an additional 131,784 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in Lemonade by 436.2% during the 2nd quarter. Squarepoint Ops LLC now owns 45,573 shares of the company’s stock valued at $752,000 after purchasing an additional 37,073 shares during the last quarter. Finally, Tidal Investments LLC acquired a new position in shares of Lemonade in the 1st quarter worth approximately $718,000. Institutional investors own 80.30% of the company’s stock.

Lemonade Price Performance

The business has a 50 day simple moving average of $22.98 and a 200 day simple moving average of $19.54. The company has a market cap of $3.78 billion, a price-to-earnings ratio of -17.43 and a beta of 1.68.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. The firm had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the company earned ($0.88) EPS. As a group, sell-side analysts anticipate that Lemonade, Inc. will post -3.05 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.