Lemonade, Inc. (NYSE:LMND) to Post Q2 2024 Earnings of ($0.88) Per Share, William Blair Forecasts

Lemonade, Inc. (NYSE:LMND) – Equities researchers at William Blair upped their Q2 2024 earnings estimates for Lemonade in a report issued on Wednesday, May 1st. William Blair analyst A. Klauber now forecasts that the company will post earnings per share of ($0.88) for the quarter, up from their prior forecast of ($0.89). The consensus estimate for Lemonade’s current full-year earnings is ($2.96) per share. William Blair also issued estimates for Lemonade’s Q4 2024 earnings at ($0.65) EPS, FY2024 earnings at ($3.06) EPS and FY2025 earnings at ($2.64) EPS.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, April 30th. The company reported ($0.67) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.14. The firm had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $114.13 million. Lemonade had a negative net margin of 48.14% and a negative return on equity of 30.30%. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.95) earnings per share.

A number of other analysts have also recently weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $40.00 target price on shares of Lemonade in a report on Monday, April 15th. Piper Sandler raised their target price on shares of Lemonade from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday. Keefe, Bruyette & Woods raised their price objective on shares of Lemonade from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Monday, March 4th. Morgan Stanley raised their price objective on shares of Lemonade from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 28th. Finally, TD Cowen assumed coverage on shares of Lemonade in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $17.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $17.88.

Lemonade Stock Performance

Shares of NYSE:LMND opened at $17.38 on Monday. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -5.55 and a beta of 1.82. Lemonade has a 1-year low of $10.27 and a 1-year high of $24.81. The company has a 50 day moving average price of $16.84 and a 200 day moving average price of $16.47.

Institutional Investors Weigh In On Lemonade

A number of institutional investors have recently modified their holdings of LMND. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Lemonade during the 4th quarter valued at $30,000. Asset Management One Co. Ltd. boosted its stake in shares of Lemonade by 48.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 4,343 shares of the company’s stock valued at $50,000 after buying an additional 1,409 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Lemonade by 236.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,246 shares of the company’s stock valued at $85,000 after buying an additional 3,687 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Lemonade during the 3rd quarter valued at $108,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Lemonade during the 3rd quarter valued at $117,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Insider Buying and Selling

In related news, CFO Timothy E. Bixby bought 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was bought at an average price of $16.54 per share, with a total value of $165,400.00. Following the purchase, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $165,400. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 11.70% of the company’s stock.

About Lemonade

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. 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.