BMO Capital Markets Forecasts Strong Price Appreciation for Lemonade (NYSE:LMND) Stock

Lemonade (NYSE:LMND) had its price objective lifted by BMO Capital Markets from $13.00 to $15.00 in a report released on Thursday morning,Benzinga reports. They currently have an underperform rating on the stock.

LMND has been the subject of several other reports. Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and boosted their price objective for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $23.00 to $42.00 in a research report on Wednesday. Piper Sandler lifted their target price on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday. Jefferies Financial Group lowered their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a report on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.43.

Lemonade Stock Performance

Shares of Lemonade stock traded down $0.28 during trading hours on Thursday, hitting $50.08. The company’s stock had a trading volume of 438,912 shares, compared to its average volume of 1,751,673. The company has a market cap of $3.58 billion, a PE ratio of -16.57 and a beta of 1.68. Lemonade has a 12-month low of $14.03 and a 12-month high of $52.22. The business has a 50 day moving average price of $22.36 and a two-hundred day moving average price of $19.29.

Lemonade (NYSE:LMND) last posted 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 business had revenue of $136.60 million during the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the company earned ($0.88) EPS. As a group, research analysts anticipate that Lemonade will post -3.05 earnings per share for the current year.

Insider Transactions at Lemonade

In other Lemonade news, COO Adina Eckstein sold 23,644 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $40.00, for a total value of $945,760.00. Following the completion of the transaction, the chief operating officer now directly owns 189,653 shares of the company’s stock, valued at approximately $7,586,120. The trade was a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Maria Angelidis-Smith sold 33,554 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $30.33, for a total transaction of $1,017,692.82. Following the sale, the director now directly owns 40,916 shares of the company’s stock, valued at approximately $1,240,982.28. This trade represents a 45.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 102,892 shares of company stock valued at $3,783,045. Company insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Lemonade by 1.2% in the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after purchasing an additional 14,028 shares during the period. Marshall Wace LLP bought a new position in Lemonade in the 2nd quarter valued at approximately $14,181,000. Landscape Capital Management L.L.C. raised its holdings in Lemonade by 17.6% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock worth $5,308,000 after purchasing an additional 48,260 shares during the last quarter. FMR LLC raised its holdings in Lemonade by 93.0% during the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after purchasing an additional 153,362 shares during the last quarter. Finally, General Equity Holdings LP bought a new position in Lemonade during the 2nd quarter worth approximately $5,198,000. 80.30% of the stock is owned by institutional investors.

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.