Lemonade, Inc. (NYSE:LMND) Receives $64.89 Average Target Price from Brokerages

Shares of Lemonade, Inc. (NYSE:LMND) have earned a consensus recommendation of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $64.8889.

A number of equities research analysts have commented on LMND shares. Piper Sandler decreased their target price on shares of Lemonade from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Morgan Stanley decreased their price objective on shares of Lemonade from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a research note on Tuesday, April 21st. Finally, Truist Financial lowered their target price on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th.

Lemonade Stock Performance

NYSE:LMND opened at $71.53 on Friday. The stock has a 50-day simple moving average of $57.95 and a two-hundred day simple moving average of $65.32. The firm has a market capitalization of $5.50 billion, a PE ratio of -38.25 and a beta of 1.79. Lemonade has a 52-week low of $35.70 and a 52-week high of $99.90.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.11. The firm had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The business’s revenue for the quarter was up 70.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.86) earnings per share. Equities analysts forecast that Lemonade will post -1.71 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Maya Prosor sold 1,220 shares of Lemonade stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total transaction of $64,867.40. Following the sale, the insider owned 187,573 shares of the company’s stock, valued at approximately $9,973,256.41. This trade represents a 0.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,608 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $52.94, for a total value of $191,007.52. Following the completion of the transaction, the insider directly owned 81,386 shares in the company, valued at approximately $4,308,574.84. This represents a 4.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 6,563 shares of company stock worth $348,125 over the last 90 days. Company insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Lemonade by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company’s stock valued at $448,822,000 after buying an additional 26,312 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Lemonade by 186.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock worth $105,644,000 after acquiring an additional 965,321 shares during the last quarter. Geode Capital Management LLC grew its stake in Lemonade by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 1,438,358 shares of the company’s stock valued at $102,400,000 after acquiring an additional 67,562 shares in the last quarter. Bank of America Corp DE grew its stake in Lemonade by 28.1% during the second quarter. Bank of America Corp DE now owns 993,669 shares of the company’s stock valued at $43,533,000 after acquiring an additional 217,913 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Lemonade by 50.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 866,476 shares of the company’s stock valued at $61,676,000 after acquiring an additional 291,122 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors.

About Lemonade

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.