Lemonade (NYSE:LMND) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Lemonade (NYSE:LMND) had its target price upped by BMO Capital Markets from $15.00 to $23.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an underperform rating on the stock.

A number of other research analysts have also recently weighed in on LMND. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $26.00 target price (up previously from $22.00) on shares of Lemonade in a report on Tuesday. Morgan Stanley downgraded Lemonade from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $35.00 to $24.00 in a report on Tuesday, April 8th. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Lemonade currently has an average rating of “Hold” and an average price target of $30.17.

Lemonade Price Performance

LMND opened at $42.06 on Wednesday. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of -13.84 and a beta of 2.20. Lemonade has a 12 month low of $14.90 and a 12 month high of $53.85. The business has a 50-day moving average of $35.55 and a two-hundred day moving average of $34.46.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Lemonade had a negative return on equity of 36.72% and a negative net margin of 38.90%. Lemonade’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.67) EPS. Equities research analysts anticipate that Lemonade will post -3.03 earnings per share for the current year.

Insider Buying and Selling

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 387,282 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $32.84, for a total value of $12,718,340.88. Following the transaction, the insider directly owned 7,111,441 shares of the company’s stock, valued at $233,539,722.44. This trade represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Adina Eckstein sold 5,000 shares of the business’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the transaction, the chief operating officer owned 189,653 shares in the company, valued at approximately $8,534,385. This represents a 2.57% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,509,545 shares of company stock valued at $78,775,964. Company insiders own 14.70% of the company’s stock.

Hedge Funds Weigh In On Lemonade

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in shares of Lemonade by 2.6% during the first quarter. Rhumbline Advisers now owns 77,706 shares of the company’s stock worth $2,442,000 after purchasing an additional 2,001 shares in the last quarter. Caxton Associates LLP purchased a new stake in Lemonade during the 1st quarter worth $1,455,000. Goldman Sachs Group Inc. increased its stake in Lemonade by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock worth $19,244,000 after buying an additional 41,759 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Lemonade in the 1st quarter worth $638,000. Finally, NewEdge Advisors LLC purchased a new position in Lemonade in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.