Lemonade, Inc. (NYSE:LMND) Receives Average Recommendation of “Reduce” from Analysts

Lemonade, Inc. (NYSE:LMND) has earned an average rating of “Reduce” from the six research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $31.00.

LMND has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 21st. JMP Securities boosted their target price on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $23.00 to $42.00 in a research note on Wednesday, November 20th. Finally, Piper Sandler dropped their price target on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th.

Lemonade Stock Performance

Shares of NYSE LMND opened at $34.78 on Friday. The company has a market cap of $2.53 billion, a P/E ratio of -11.44 and a beta of 2.12. The firm’s fifty day moving average is $34.40 and its two-hundred day moving average is $30.48. Lemonade has a 52-week low of $14.03 and a 52-week high of $53.85.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.19. The company had revenue of $148.80 million for the quarter, compared to the consensus estimate of $144.78 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. As a group, analysts forecast that Lemonade will post -3.03 EPS for the current fiscal year.

Insider Buying and Selling at Lemonade

In other Lemonade news, Director Michael A. Eisenberg sold 12,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $40.15, for a total transaction of $481,800.00. Following the transaction, the director now directly owns 94,670 shares of the company’s stock, valued at $3,801,000.50. This trade represents a 11.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Sheldon Peters sold 1,899 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total transaction of $64,167.21. Following the transaction, the insider now directly owns 87,609 shares in the company, valued at approximately $2,960,308.11. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 769,766 shares of company stock worth $33,851,446. 12.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lemonade

A number of hedge funds have recently modified their holdings of LMND. Vanguard Group Inc. raised its stake in Lemonade by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 5,343,492 shares of the company’s stock worth $195,999,000 after purchasing an additional 134,776 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Lemonade by 2,627.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock valued at $49,494,000 after acquiring an additional 1,299,891 shares during the period. State Street Corp raised its stake 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 acquiring an additional 14,028 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Lemonade in the 4th quarter valued at approximately $22,066,000. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Lemonade in the 4th quarter valued at approximately $21,310,000. 80.30% of the stock is currently 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.