Lemonade (NYSE:LMND) Price Target Raised to $44.00 at Keefe, Bruyette & Woods

Lemonade (NYSE:LMND) had its target price increased by Keefe, Bruyette & Woods from $40.00 to $44.00 in a research report sent to investors on Tuesday morning, MarketBeat reports. They currently have an underperform rating on the stock.

A number of other analysts have also recently commented on LMND. Piper Sandler set a $65.00 price target on shares of Lemonade in a research note on Thursday, February 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a research report on Thursday, January 22nd. Truist Financial began coverage on Lemonade in a report on Tuesday, January 6th. They issued a “buy” rating and a $98.00 price target for the company. Cantor Fitzgerald lifted their price target on Lemonade from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Finally, Citigroup reissued an “outperform” rating on shares of Lemonade in a report on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Lemonade presently has an average rating of “Hold” and an average target price of $68.75.

Lemonade Stock Performance

LMND stock opened at $52.08 on Tuesday. The stock has a fifty day moving average of $76.40 and a 200-day moving average of $66.49. Lemonade has a fifty-two week low of $24.31 and a fifty-two week high of $99.90. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of -23.04 and a beta of 2.03.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.12. The business had revenue of $228.10 million for the quarter, compared to analysts’ expectations of $218.07 million. Lemonade had a negative return on equity of 31.25% and a negative net margin of 22.43%.The firm’s quarterly revenue was up 53.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.42) EPS. Equities analysts predict that Lemonade will post -3.03 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Daniel A. Schreiber sold 9,108 shares of Lemonade stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $99.04, for a total transaction of $902,056.32. Following the completion of the sale, the chief executive officer owned 1,514,426 shares in the company, valued at approximately $149,988,751.04. This trade represents a 0.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Adina Eckstein sold 7,919 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $81.15, for a total transaction of $642,626.85. Following the completion of the transaction, the chief operating officer owned 188,391 shares in the company, valued at approximately $15,287,929.65. This trade represents a 4.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 246,742 shares of company stock worth $21,729,370 over the last three months. Corporate insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in shares of Lemonade by 186.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock valued at $105,644,000 after buying an additional 965,321 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Lemonade by 30.8% in the third quarter. JPMorgan Chase & Co. now owns 3,506,171 shares of the company’s stock valued at $187,685,000 after acquiring an additional 825,522 shares during the last quarter. BIT Capital GmbH raised its position in Lemonade by 69.3% during the third quarter. BIT Capital GmbH now owns 1,254,345 shares of the company’s stock valued at $67,145,000 after purchasing an additional 513,424 shares in the last quarter. Jump Financial LLC lifted its stake in Lemonade by 365.8% during the second quarter. Jump Financial LLC now owns 581,378 shares of the company’s stock worth $25,470,000 after purchasing an additional 456,571 shares during the last quarter. Finally, Man Group plc bought a new stake in Lemonade during the fourth quarter worth about $25,978,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

About Lemonade

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.