Lemonade (NYSE:LMND) Stock Price Expected to Rise, Piper Sandler Analyst Says

Lemonade (NYSE:LMND) had its price target boosted by equities researchers at Piper Sandler from $25.00 to $44.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential downside of 5.54% from the company’s current price.

Other research analysts have also issued research reports about the company. Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and upped their price objective for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price objective on shares of Lemonade in a research note on Tuesday, October 15th. Jefferies Financial Group dropped their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Finally, Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $23.00 to $42.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Lemonade presently has an average rating of “Hold” and an average price target of $29.67.

Lemonade Trading Up 16.0 %

NYSE:LMND opened at $46.58 on Thursday. The stock’s 50 day simple moving average is $21.71 and its 200-day simple moving average is $19.07. Lemonade has a 12-month low of $14.03 and a 12-month high of $48.15. The firm has a market cap of $3.33 billion, a P/E ratio of -15.32 and a beta of 1.68.

Lemonade (NYSE:LMND) last issued its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.07. The business had revenue of $136.60 million for the quarter, compared to the consensus estimate of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.88) earnings per share. Research analysts forecast that Lemonade will post -3.05 EPS for the current fiscal year.

Insider Activity at Lemonade

In other Lemonade news, insider Maya Prosor sold 20,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.00, for a total transaction of $600,000.00. Following the transaction, the insider now owns 59,286 shares of the company’s stock, valued at $1,778,580. This represents a 25.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Maria Angelidis-Smith sold 33,554 shares of Lemonade stock in a transaction on Friday, November 8th. The shares were sold at an average price of $30.33, for a total value of $1,017,692.82. Following the completion of the sale, the director now directly owns 40,916 shares of the company’s stock, valued at approximately $1,240,982.28. This represents a 45.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,604 shares of company stock valued at $1,655,085 over the last quarter. Insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

A number of hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its stake in shares of Lemonade by 292.5% during the 3rd quarter. Barclays PLC now owns 87,414 shares of the company’s stock valued at $1,443,000 after acquiring an additional 65,144 shares during the last quarter. Main Management ETF Advisors LLC purchased a new stake in Lemonade in the third quarter valued at approximately $614,000. State Street Corp increased its position in Lemonade by 1.2% during the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after purchasing an additional 14,028 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in Lemonade by 321.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after purchasing an additional 3,403 shares during the period. Finally, Verition Fund Management LLC acquired a new position in shares of Lemonade in the 3rd quarter valued at $1,571,000. 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.