Lemonade (NYSE:LMND) Upgraded by Morgan Stanley to “Overweight” Rating

Morgan Stanley upgraded shares of Lemonade (NYSE:LMND) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday, Marketbeat reports. They currently have $85.00 price target on the stock, up from their prior price target of $80.00.

Other equities research analysts have also recently issued reports about the company. Citigroup reissued an “outperform” rating on shares of Lemonade in a research report on Friday, January 16th. Keefe, Bruyette & Woods lifted their price objective on Lemonade from $40.00 to $44.00 and gave the company an “underperform” rating in a report on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a report on Thursday, January 22nd. Truist Financial began coverage on Lemonade in a research report on Tuesday, January 6th. They set a “buy” rating and a $98.00 price target on the stock. Finally, Wolfe Research set a $44.00 target price on shares of Lemonade in a research note on Tuesday, February 24th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $68.75.

Lemonade Trading Up 15.9%

NYSE:LMND opened at $66.90 on Tuesday. The business’s fifty day moving average price is $69.77 and its 200 day moving average price is $66.43. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of -29.60 and a beta of 2.12. Lemonade has a 1-year low of $24.31 and a 1-year high of $99.90.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Wednesday, February 18th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.12. Lemonade had a negative return on equity of 31.19% and a negative net margin of 22.43%.During the same quarter last year, the business earned ($0.42) earnings per share. The company’s quarterly revenue was up 53.3% compared to the same quarter last year. Equities analysts forecast that Lemonade will post -3.03 earnings per share for the current year.

Insiders Place Their Bets

In related 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Sheldon Peters sold 3,571 shares of Lemonade stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $52.50, for a total transaction of $187,477.50. Following the transaction, the insider directly owned 76,729 shares of the company’s stock, valued at approximately $4,028,272.50. This trade represents a 4.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 160,300 shares of company stock valued at $14,796,026. Corporate insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in Lemonade by 186.0% in the fourth 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. grew its holdings in Lemonade by 30.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,506,171 shares of the company’s stock worth $187,685,000 after acquiring an additional 825,522 shares during the period. BIT Capital GmbH increased its holdings in Lemonade by 69.3% in the third quarter. BIT Capital GmbH now owns 1,254,345 shares of the company’s stock worth $67,145,000 after purchasing an additional 513,424 shares in the last quarter. Jump Financial LLC lifted its position in shares of Lemonade by 365.8% during the 2nd quarter. Jump Financial LLC now owns 581,378 shares of the company’s stock valued at $25,470,000 after acquiring an additional 456,571 shares during the period. Finally, Man Group plc acquired a new position in shares of Lemonade during the fourth quarter valued at about $25,978,000. 80.30% of the stock is currently owned by institutional investors.

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.