Lemonade (NYSE:LMND) Given a $42.00 Price Target at BMO Capital Markets

BMO Capital Markets set a $42.00 price objective on Lemonade (NYSE:LMND) in a research report sent to investors on Monday morning, Marketbeat reports. The brokerage currently has an underperform rating on the stock.

A number of other research analysts also recently issued reports on LMND. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $26.00 price target (up from $22.00) on shares of Lemonade in a research report on Tuesday, July 1st. Piper Sandler reiterated a “neutral” rating and issued a $55.00 price objective on shares of Lemonade in a research report on Thursday. Morgan Stanley reiterated an “underweight” rating and issued a $26.00 price objective (up from $24.00) on shares of Lemonade in a research report on Monday, July 14th. Cantor Fitzgerald upgraded shares of Lemonade to a “strong-buy” rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen upgraded shares of Lemonade from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.43.

Lemonade Trading Up 4.0%

LMND opened at $59.69 on Monday. The company has a fifty day simple moving average of $43.47 and a 200 day simple moving average of $36.30. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of -21.09 and a beta of 2.19. Lemonade has a twelve month low of $15.27 and a twelve month high of $60.41.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.21. The business had revenue of $164.10 million during the quarter, compared to analyst estimates of $160.88 million. Lemonade had a negative net margin of 33.96% and a negative return on equity of 36.12%. The business’s revenue was up 34.5% on a year-over-year basis. During the same period last year, the business earned ($0.81) EPS. On average, analysts forecast that Lemonade will post -3.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Adina Eckstein sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $49.00, for a total value of $245,000.00. Following the completion of the sale, the chief operating officer directly owned 189,653 shares in the company, valued at approximately $9,292,997. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Sheldon Peters sold 6,543 shares of the business’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $45.00, for a total transaction of $294,435.00. Following the transaction, the insider directly owned 106,115 shares in the company, valued at $4,775,175. This trade represents a 5.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,289 shares of company stock valued at $825,982 over the last quarter. Corporate insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Lemonade by 14.9% during the first quarter. Vanguard Group Inc. now owns 6,138,444 shares of the company’s stock worth $192,931,000 after acquiring an additional 794,952 shares during the period. Geode Capital Management LLC raised its stake in shares of Lemonade by 4.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,297,943 shares of the company’s stock valued at $56,871,000 after buying an additional 60,853 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Lemonade by 28.1% in the 2nd quarter. Bank of America Corp DE now owns 993,669 shares of the company’s stock valued at $43,533,000 after buying an additional 217,913 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Lemonade by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock worth $19,244,000 after purchasing an additional 41,759 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Lemonade in the 4th quarter worth about $22,066,000. Institutional investors own 80.30% 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.