Lemonade (NYSE:LMND) Price Target Cut to $19.00 by Analysts at Piper Sandler

Lemonade (NYSE:LMNDGet Rating) had its target price lowered by Piper Sandler from $20.00 to $19.00 in a research note issued to investors on Wednesday morning, The Fly reports.

A number of other analysts have also commented on the company. Oppenheimer reduced their target price on Lemonade to $30.00 in a report on Tuesday, November 15th. Keefe, Bruyette & Woods began coverage on shares of Lemonade in a research note on Thursday, November 17th. They set a market perform rating and a $24.00 target price on the stock. Finally, Barclays reduced their price target on shares of Lemonade from $28.00 to $18.00 and set an equal weight rating for the company in a research note on Thursday, November 10th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $24.71.

Lemonade Stock Performance

Shares of LMND stock opened at $15.83 on Wednesday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -3.26 and a beta of 1.49. Lemonade has a one year low of $12.82 and a one year high of $34.54. The company’s 50-day moving average is $17.19 and its 200 day moving average is $20.67.

Lemonade (NYSE:LMNDGet Rating) last issued its earnings results on Tuesday, November 8th. The company reported ($1.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.01). The firm had revenue of $74.00 million during the quarter, compared to the consensus estimate of $65.17 million. Lemonade had a negative return on equity of 33.30% and a negative net margin of 145.44%. As a group, research analysts predict that Lemonade will post -4.85 earnings per share for the current fiscal year.

Insider Activity at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 4,265 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $25.00, for a total value of $106,625.00. Following the transaction, the insider now directly owns 8,985 shares in the company, valued at $224,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 36.70% of the stock is currently owned by company insiders.

Institutional Trading of Lemonade

A number of hedge funds and other institutional investors have recently bought and sold shares of LMND. Asset Management One Co. Ltd. boosted its holdings in Lemonade by 19.6% in the 2nd quarter. Asset Management One Co. Ltd. now owns 3,084 shares of the company’s stock worth $56,000 after buying an additional 506 shares during the period. Royal Bank of Canada grew its position in shares of Lemonade by 28.5% during the third quarter. Royal Bank of Canada now owns 2,536 shares of the company’s stock worth $54,000 after purchasing an additional 562 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Lemonade by 6.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 10,685 shares of the company’s stock valued at $195,000 after purchasing an additional 620 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Lemonade by 4.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,856 shares of the company’s stock worth $378,000 after purchasing an additional 804 shares during the period. Finally, Amalgamated Bank grew its holdings in Lemonade by 16.5% during the 3rd quarter. Amalgamated Bank now owns 5,960 shares of the company’s stock valued at $126,000 after buying an additional 844 shares in the last quarter. Hedge funds and other institutional investors own 67.70% of the company’s stock.

About Lemonade

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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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