Lemonade, Inc. (NYSE:LMND) Receives $18.86 Average PT from Analysts

Shares of Lemonade, Inc. (NYSE:LMND) have been given an average rating of “Reduce” by the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $18.86.

A number of equities research analysts recently commented on LMND shares. Piper Sandler upped their price target on shares of Lemonade from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Keefe, Bruyette & Woods increased their target price on shares of Lemonade from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Monday, March 4th. Morgan Stanley boosted their price target on Lemonade from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Wednesday, February 28th. Jefferies Financial Group increased their price objective on Lemonade from $14.00 to $16.00 and gave the stock an “underperform” rating in a report on Tuesday, May 7th. Finally, JMP Securities reissued a “market outperform” rating and set a $40.00 target price on shares of Lemonade in a research note on Monday, April 15th.

Insider Buying and Selling

In related news, CFO Timothy E. Bixby bought 10,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were acquired at an average cost of $16.54 per share, with a total value of $165,400.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $165,400. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lemonade

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in Lemonade by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 459,824 shares of the company’s stock valued at $7,417,000 after acquiring an additional 6,809 shares during the period. Halter Ferguson Financial Inc. bought a new position in shares of Lemonade in the 4th quarter worth approximately $6,429,000. Bank of New York Mellon Corp boosted its holdings in shares of Lemonade by 9.2% in the third quarter. Bank of New York Mellon Corp now owns 228,948 shares of the company’s stock worth $2,660,000 after buying an additional 19,252 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Lemonade during the first quarter valued at approximately $3,100,000. Finally, Swiss National Bank increased its holdings in Lemonade by 1.2% during the third quarter. Swiss National Bank now owns 114,500 shares of the company’s stock valued at $1,330,000 after buying an additional 1,400 shares during the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Price Performance

Shares of LMND opened at $16.46 on Friday. Lemonade has a 1 year low of $10.27 and a 1 year high of $24.81. The stock has a 50 day simple moving average of $16.90 and a two-hundred day simple moving average of $16.96. The firm has a market cap of $1.16 billion, a P/E ratio of -5.26 and a beta of 1.82.

Lemonade (NYSE:LMND) last released its earnings results on Tuesday, April 30th. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.14. The company had revenue of $119.10 million for the quarter, compared to analyst estimates of $114.13 million. Lemonade had a negative net margin of 48.14% and a negative return on equity of 30.30%. The firm’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.95) EPS. On average, equities analysts anticipate that Lemonade will post -2.93 earnings per share for the current year.

Lemonade Company Profile

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.