Lemonade, Inc. (NYSE:LMND) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Lemonade, Inc. (NYSE:LMND) have been given an average recommendation of “Hold” by the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $58.5714.

LMND has been the subject of several research reports. Keefe, Bruyette & Woods lifted their target price on Lemonade from $35.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, November 25th. BMO Capital Markets raised their price objective on shares of Lemonade from $23.00 to $42.00 and gave the company an “underperform” rating in a research note on Monday, August 18th. Morgan Stanley lifted their price objective on shares of Lemonade from $49.00 to $53.00 and gave the company an “underweight” rating in a report on Monday, November 17th. Citigroup reaffirmed a “market outperform” rating on shares of Lemonade in a research note on Monday, November 24th. Finally, Citizens Jmp raised their price target on shares of Lemonade from $60.00 to $80.00 and gave the company a “market outperform” rating in a research report on Monday, November 24th.

Insider Buying and Selling at Lemonade

In other news, insider John Sheldon Peters sold 2,667 shares of Lemonade stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $72.37, for a total value of $193,010.79. Following the completion of the transaction, the insider owned 74,325 shares in the company, valued at approximately $5,378,900.25. This trade represents a 3.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Adina Eckstein sold 5,988 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $78.00, for a total transaction of $467,064.00. Following the sale, the chief operating officer owned 227,987 shares in the company, valued at $17,782,986. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 74,258 shares of company stock worth $5,445,742. Insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Institutional investors have recently added to or reduced their stakes in the business. Bayforest Capital Ltd acquired a new position in shares of Lemonade in the 3rd quarter valued at $25,000. Strategic Advocates LLC purchased a new position in Lemonade during the 3rd quarter worth $33,000. SVB Wealth LLC acquired a new position in Lemonade in the first quarter valued at $26,000. Estabrook Capital Management acquired a new position in Lemonade in the second quarter valued at $44,000. Finally, Tsfg LLC purchased a new stake in shares of Lemonade in the third quarter valued at about $54,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Stock Up 2.8%

Shares of NYSE LMND opened at $78.97 on Monday. The business’s 50 day moving average is $63.18 and its two-hundred day moving average is $51.76. Lemonade has a 52-week low of $24.31 and a 52-week high of $83.77. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of -33.04 and a beta of 2.12.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.21. The business had revenue of $194.50 million during the quarter, compared to analyst estimates of $185.06 million. Lemonade had a negative return on equity of 31.86% and a negative net margin of 26.39%.The company’s quarterly revenue was up 42.4% on a year-over-year basis. During the same period last year, the business posted ($0.95) earnings per share. Analysts anticipate that Lemonade will post -3.03 EPS for the current fiscal year.

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.