Piper Sandler Increases Lemonade (NYSE:LMND) Price Target to $25.00

Lemonade (NYSE:LMND) had its target price hoisted by Piper Sandler from $18.00 to $25.00 in a research report released on Friday, Benzinga reports. They currently have a neutral rating on the stock.

LMND has been the topic of a number of other research reports. Jefferies Financial Group dropped their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price objective on shares of Lemonade in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Lemonade has an average rating of “Hold” and a consensus price target of $21.33.

Lemonade Trading Down 2.4 %

Shares of Lemonade stock opened at $23.57 on Friday. Lemonade has a 1 year low of $13.72 and a 1 year high of $25.98. The firm’s 50-day moving average is $18.21 and its two-hundred day moving average is $17.77.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.07. The company had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. Lemonade’s revenue was up 19.3% compared to the same quarter last year. During the same period last year, the company posted ($0.88) earnings per share. Equities analysts expect that Lemonade will post -3.03 EPS for the current fiscal year.

Insider Activity at Lemonade

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total transaction of $37,392.00. Following the sale, the chief financial officer now owns 271,552 shares of the company’s stock, valued at approximately $4,953,108.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LMND. Marshall Wace LLP acquired a new stake in shares of Lemonade during the second quarter worth about $14,181,000. General Equity Holdings LP purchased a new position in Lemonade during the 2nd quarter worth approximately $5,198,000. GSA Capital Partners LLP purchased a new position in Lemonade during the 1st quarter worth approximately $3,100,000. Millennium Management LLC lifted its stake in Lemonade by 388.7% during the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after acquiring an additional 131,784 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Lemonade by 8.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,938 shares of the company’s stock valued at $1,853,000 after acquiring an additional 9,107 shares during the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.

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.