Lemonade (NYSE:LMND) Posts Earnings Results, Beats Estimates By $0.22 EPS

Lemonade (NYSE:LMNDGet Rating) issued its quarterly earnings results on Monday. The company reported ($1.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.43) by $0.22, MarketWatch Earnings reports. Lemonade had a negative return on equity of 22.54% and a negative net margin of 187.93%. The firm had revenue of $44.30 million for the quarter, compared to analyst estimates of $43.25 million. During the same period in the previous year, the company posted ($0.81) earnings per share. The company’s quarterly revenue was up 88.5% compared to the same quarter last year. Lemonade updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.

NYSE LMND opened at $18.50 on Tuesday. The stock’s 50 day moving average is $23.53 and its two-hundred day moving average is $36.42. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -4.71 and a beta of 2.04. Lemonade has a 1-year low of $16.69 and a 1-year high of $115.85.

Institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new position in shares of Lemonade in the 4th quarter worth approximately $26,000. Metropolitan Life Insurance Co NY boosted its holdings in shares of Lemonade by 255.6% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 946 shares of the company’s stock worth $40,000 after acquiring an additional 680 shares in the last quarter. Flagship Harbor Advisors LLC boosted its holdings in shares of Lemonade by 13.0% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,949 shares of the company’s stock worth $293,000 after acquiring an additional 798 shares in the last quarter. NEXT Financial Group Inc boosted its holdings in shares of Lemonade by 70.9% in the 4th quarter. NEXT Financial Group Inc now owns 12,985 shares of the company’s stock worth $547,000 after acquiring an additional 5,386 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Lemonade in the 4th quarter worth approximately $1,226,000. 58.52% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on LMND shares. Piper Sandler lowered their price target on Lemonade from $54.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, February 25th. Zacks Investment Research lowered Lemonade from a “hold” rating to a “sell” rating in a research note on Tuesday. Barclays lowered their price target on Lemonade from $43.00 to $22.00 in a research note on Friday, February 25th. Oppenheimer lowered their price target on Lemonade from $85.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, February 25th. Finally, Morgan Stanley decreased their price objective on Lemonade from $74.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, March 4th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.50.

About Lemonade (Get Rating)

Lemonade, Inc provides various insurance products in the United States and Europe. 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. The company also offers renters, homeowners, pet, car, and life insurance products, as well as landlord insurance policies.

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Earnings History for Lemonade (NYSE:LMND)

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