Lemonade (NYSE:LMND) Shares Gap Down to $15.05

Lemonade, Inc. (NYSE:LMND)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $15.05, but opened at $14.50. Lemonade shares last traded at $14.73, with a volume of 515,209 shares.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LMND. BMO Capital Markets increased their price objective on Lemonade from $8.00 to $9.00 and gave the stock an “underperform” rating in a research report on Thursday, September 28th. Morgan Stanley raised their price target on Lemonade from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Thursday, November 2nd. Piper Sandler dropped their price target on Lemonade from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, August 4th. Finally, Jefferies Financial Group dropped their price target on Lemonade from $14.00 to $10.00 in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, Lemonade currently has an average rating of “Hold” and an average price target of $16.25.

Lemonade Stock Performance

The company has a market cap of $994.26 million, a P/E ratio of -3.81 and a beta of 1.59. The firm has a 50 day moving average price of $12.68 and a 200-day moving average price of $15.51.

Lemonade (NYSE:LMND) last issued its earnings results on Wednesday, November 1st. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.05. The business had revenue of $114.50 million during the quarter, compared to analysts’ expectations of $104.52 million. Lemonade had a negative return on equity of 32.41% and a negative net margin of 64.12%. Lemonade’s quarterly revenue was up 54.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.37) EPS. On average, sell-side analysts forecast that Lemonade, Inc. will post -3.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its stake in shares of Lemonade by 56.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 25,960 shares of the company’s stock worth $685,000 after purchasing an additional 9,369 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in Lemonade during the 1st quarter worth about $25,000. BlackRock Inc. grew its holdings in Lemonade by 3.4% during the 1st quarter. BlackRock Inc. now owns 1,517,589 shares of the company’s stock worth $40,019,000 after acquiring an additional 50,278 shares during the period. Allianz Asset Management GmbH acquired a new stake in Lemonade during the 1st quarter worth about $4,485,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Lemonade by 2.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 196,482 shares of the company’s stock valued at $5,182,000 after buying an additional 5,176 shares during the period. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Lemonade Company Profile

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, car, pet, and life insurance products, as well as landlord insurance policies.