Lemonade, Inc. (NYSE:LMND) Receives Average Rating of “Hold” from Analysts

Lemonade, Inc. (NYSE:LMND) has been given an average recommendation of “Hold” by the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $71.50.

A number of research firms have recently weighed in on LMND. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a research report on Thursday. Morgan Stanley set a $85.00 target price on shares of Lemonade and gave the company an “equal weight” rating in a research report on Tuesday, December 16th. Citizens Jmp upped their target price 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. Keefe, Bruyette & Woods lifted their price target on shares of Lemonade from $35.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 25th. Finally, Piper Sandler dropped their price target on shares of Lemonade from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, October 10th.

Insider Activity

In other Lemonade news, insider John Sheldon Peters sold 18,930 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $72.77, for a total value of $1,377,536.10. Following the sale, the insider directly owned 83,467 shares in the company, valued at approximately $6,073,893.59. This trade represents a 18.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Adina Eckstein sold 41,557 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $78.95, for a total value of $3,280,925.15. Following the sale, the chief operating officer directly owned 204,229 shares in the company, valued at $16,123,879.55. The trade was a 16.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 306,350 shares of company stock worth $25,870,918 in the last ninety days. Company insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Several institutional investors have recently bought and sold shares of LMND. Bayforest Capital Ltd bought a new position in shares of Lemonade during the 3rd quarter worth approximately $25,000. Strategic Advocates LLC bought a new stake in shares of Lemonade in the third quarter worth $33,000. NewEdge Advisors LLC acquired a new position in Lemonade during the first quarter worth $35,000. Estabrook Capital Management bought a new position in Lemonade in the second quarter valued at $44,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in Lemonade by 30.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,034 shares of the company’s stock valued at $45,000 after buying an additional 243 shares during the last quarter. Institutional investors own 80.30% of the company’s stock.

Lemonade Stock Down 3.8%

Shares of NYSE LMND opened at $89.68 on Tuesday. Lemonade has a 12-month low of $24.31 and a 12-month high of $99.90. The firm’s 50-day simple moving average is $78.27 and its 200 day simple moving average is $62.07. The company has a market cap of $6.70 billion, a price-to-earnings ratio of -37.52 and a beta of 1.98.

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

Lemonade Company Profile

Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.