Jefferies Financial Group Increases Lemonade (NYSE:LMND) Price Target to $16.00

Lemonade (NYSE:LMND) had its target price hoisted by stock analysts at Jefferies Financial Group from $14.00 to $16.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “underperform” rating on the stock. Jefferies Financial Group’s price target suggests a potential downside of 4.22% from the company’s previous close.

LMND has been the topic of several other reports. Piper Sandler upped their target price on shares of Lemonade from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Keefe, Bruyette & Woods upped their price objective on Lemonade from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Monday, March 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price objective on shares of Lemonade in a research note on Monday, April 15th. Morgan Stanley boosted their target price on Lemonade from $13.00 to $14.00 and gave the company an “underweight” rating in a research report on Wednesday, February 28th. Finally, TD Cowen initiated coverage on Lemonade in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $17.00 price target for the company. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.63.

Lemonade Price Performance

NYSE:LMND opened at $16.71 on Tuesday. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -5.34 and a beta of 1.82. Lemonade has a 1 year low of $10.27 and a 1 year high of $24.81. The stock’s 50 day simple moving average is $16.71 and its two-hundred day simple moving average is $16.55.

Lemonade (NYSE:LMND) last posted its earnings results on Tuesday, April 30th. The company reported ($0.67) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.14. The firm had revenue of $119.10 million during the quarter, compared to analyst estimates of $114.13 million. Lemonade had a negative net margin of 48.14% and a negative return on equity of 30.30%. Lemonade’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. As a group, analysts anticipate that Lemonade will post -2.96 EPS for the current year.

Insider Transactions at Lemonade

In other Lemonade news, CFO Timothy E. Bixby acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average price of $16.54 per share, for a total transaction of $165,400.00. Following the acquisition, the chief financial officer now directly owns 10,000 shares in the company, valued at $165,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

Several institutional investors and hedge funds have recently made changes to their positions in LMND. McGlone Suttner Wealth Management Inc. bought a new position in shares of Lemonade in the fourth quarter worth about $30,000. Tower Research Capital LLC TRC grew its stake in Lemonade by 236.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,246 shares of the company’s stock worth $85,000 after acquiring an additional 3,687 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Lemonade during the third quarter worth approximately $108,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Lemonade during the third quarter worth approximately $117,000. Finally, EMC Capital Management raised its stake in shares of Lemonade by 175.5% during the third quarter. EMC Capital Management now owns 11,000 shares of the company’s stock valued at $128,000 after acquiring an additional 7,007 shares in the last quarter. 80.30% of the stock is currently owned by institutional investors.

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.