Lemonade (NYSE:LMND) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Lemonade (NYSE:LMND) from an underweight rating to an equal weight rating in a report published on Wednesday, Marketbeat reports. They currently have $42.00 price target on the stock, up from their prior price target of $23.00.

A number of other brokerages have also recently commented on LMND. Keefe, Bruyette & Woods cut shares of Lemonade from a “market perform” rating to an “underperform” rating and lifted their price objective for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. Jefferies Financial Group dropped their price objective 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. Piper Sandler lifted their price target on shares of Lemonade from $18.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price target on shares of Lemonade in a research note on Tuesday, October 15th. Three equities research 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 stock has an average rating of “Hold” and an average target price of $30.43.

Lemonade Stock Performance

Shares of NYSE LMND opened at $49.29 on Wednesday. Lemonade has a 52-week low of $14.03 and a 52-week high of $52.22. The company has a market cap of $3.52 billion, a P/E ratio of -16.21 and a beta of 1.68. The firm’s fifty day moving average is $22.98 and its two-hundred day moving average is $19.51.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same period last year, the company posted ($0.88) EPS. The business’s revenue was up 19.3% on a year-over-year basis. As a group, analysts forecast that Lemonade will post -3.05 EPS for the current fiscal year.

Insider Buying and Selling at Lemonade

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total value of $37,392.00. Following the completion of the sale, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at $4,953,108.48. The trade was a 0.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maria Angelidis-Smith sold 33,554 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $30.33, for a total transaction of $1,017,692.82. Following the completion of the sale, the director now 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 sold a total of 102,892 shares of company stock valued at $3,783,045 in the last three months. Company insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Several large investors have recently modified their holdings of the business. Barclays PLC raised its holdings in shares of Lemonade by 292.5% in the 3rd quarter. Barclays PLC now owns 87,414 shares of the company’s stock valued at $1,443,000 after purchasing an additional 65,144 shares in the last quarter. Main Management ETF Advisors LLC bought a new stake in shares of Lemonade in the 3rd quarter valued at about $614,000. State Street Corp raised its holdings in shares of Lemonade by 1.2% in the 3rd 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Lemonade by 321.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after purchasing an additional 3,403 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Lemonade in the 3rd quarter valued at about $1,571,000. Institutional investors own 80.30% of the company’s stock.

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.