Lemonade (NYSE:LMND) PT Lowered to $30.00 at Oppenheimer

Lemonade (NYSE:LMND – Get Rating) had its price objective reduced by analysts at Oppenheimer from $45.00 to $30.00 in a report released on Wednesday, The Fly reports. Oppenheimer’s target price points to a potential upside of 58.31% from the stock’s previous close.

Several other brokerages have also recently issued reports on LMND. Piper Sandler lowered their target price on shares of 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 shares of Lemonade from a “hold” rating to a “sell” rating in a research note on Tuesday. JMP Securities cut their target price on shares of Lemonade from $95.00 to $40.00 in a research note on Wednesday. Barclays decreased their price objective on Lemonade from $43.00 to $22.00 in a report on Friday, February 25th. Finally, Morgan Stanley decreased their price target on Lemonade from $74.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, March 4th. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lemonade has a consensus rating of “Hold” and a consensus target price of $36.75.

Shares of LMND opened at $18.95 on Wednesday. Lemonade has a twelve month low of $16.25 and a twelve month high of $115.85. The company has a market cap of $1.17 billion, a P/E ratio of -4.82 and a beta of 2.04. The company’s fifty day simple moving average is $23.35 and its 200-day simple moving average is $35.98.

Lemonade (NYSE:LMND – Get Rating) last issued its earnings results on Monday, May 9th. The company reported ($1.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.43) by $0.22. The company had revenue of $44.30 million for the quarter, compared to analysts’ expectations of $43.25 million. Lemonade had a negative net margin of 187.93% and a negative return on equity of 22.54%. The firm’s quarterly revenue was up 88.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.81) EPS. As a group, sell-side analysts forecast that Lemonade will post -5.68 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new stake in shares of Lemonade in the 4th quarter worth $25,000. EverSource Wealth Advisors LLC bought a new stake in shares of Lemonade in the 4th quarter worth $25,000. Tyler Stone Wealth Management bought a new stake in shares of Lemonade in the 4th quarter worth $29,000. Metropolitan Life Insurance Co NY raised its stake 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 buying an additional 680 shares in the last quarter. Finally, Kozak & Associates Inc. bought a new stake in shares of Lemonade in the 3rd quarter worth $60,000. Institutional investors own 58.52% of the company’s stock.

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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