Lemonade (NYSE:LMND) Price Target Raised to $44.00

Lemonade (NYSE:LMND) had its target price upped by Piper Sandler from $25.00 to $44.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a research note on Tuesday, October 15th. Jefferies Financial Group cut their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and upped their price target for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Finally, Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $23.00 to $42.00 in a report on Wednesday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.43.

Lemonade Price Performance

LMND stock opened at $49.28 on Thursday. Lemonade has a 1 year low of $14.03 and a 1 year high of $52.22. The firm has a market capitalization of $3.52 billion, a P/E ratio of -16.21 and a beta of 1.68. The business’s 50-day moving average is $22.98 and its two-hundred day moving average is $19.52.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (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 company had revenue of $136.60 million during the quarter, compared to the consensus estimate of $129.10 million. During the same quarter in the previous year, the firm earned ($0.88) earnings per share. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. On average, analysts expect that Lemonade will post -3.05 EPS for the current year.

Insider Buying and Selling at Lemonade

In related news, CFO Timothy E. Bixby sold 2,050 shares of the company’s stock in a transaction on 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 owns 271,552 shares in the company, valued at $4,953,108.48. This represents a 0.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Maya Prosor sold 20,000 shares of the firm’s 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 directly owns 59,286 shares in the company, valued at $1,778,580. The trade was a 25.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,892 shares of company stock worth $3,783,045. 12.50% of the stock is owned by insiders.

Institutional Trading of Lemonade

Several institutional investors and hedge funds have recently added to or reduced their stakes in LMND. GSA Capital Partners LLP increased its holdings in shares of Lemonade by 31.0% in the third quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock valued at $2,983,000 after purchasing an additional 42,822 shares during the period. International Assets Investment Management LLC increased its stake in Lemonade by 1,549.0% in the 3rd quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock valued at $324,000 after buying an additional 18,480 shares during the period. Millennium Management LLC raised its position in Lemonade by 388.7% during the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after buying an additional 131,784 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Lemonade by 436.2% in the 2nd quarter. Squarepoint Ops LLC now owns 45,573 shares of the company’s stock worth $752,000 after acquiring an additional 37,073 shares during the period. Finally, Tidal Investments LLC purchased a new stake in shares of Lemonade in the first quarter valued at about $718,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

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.