Analysts Set Lemonade, Inc. (NYSE:LMND) PT at $68.75

Shares of Lemonade, Inc. (NYSE:LMND) have been assigned a consensus rating of “Hold” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $68.75.

A number of equities analysts recently weighed in on LMND shares. Morgan Stanley raised shares of Lemonade from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $80.00 to $85.00 in a research note on Tuesday, March 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a report on Thursday, January 22nd. Piper Sandler set a $65.00 price target on shares of Lemonade in a report on Thursday, February 19th. Cantor Fitzgerald raised their price target on shares of Lemonade from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Finally, Citigroup restated an “outperform” rating on shares of Lemonade in a report on Friday, January 16th.

Lemonade Stock Up 6.3%

Shares of NYSE LMND opened at $62.45 on Friday. Lemonade has a twelve month low of $25.07 and a twelve month high of $99.90. The firm has a fifty day simple moving average of $60.62 and a 200 day simple moving average of $67.55. The company has a market capitalization of $4.77 billion, a PE ratio of -27.63 and a beta of 2.04.

Lemonade (NYSE:LMND) last announced its earnings results on Wednesday, February 18th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.12. Lemonade had a negative net margin of 22.43% and a negative return on equity of 31.19%. During the same quarter in the prior year, the firm earned ($0.42) earnings per share. Lemonade’s revenue was up 53.3% compared to the same quarter last year. As a group, equities analysts expect that Lemonade will post -3.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lemonade news, insider John Sheldon Peters sold 3,571 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $52.50, for a total value of $187,477.50. Following the completion of the sale, the insider directly owned 76,729 shares in the company, valued at approximately $4,028,272.50. This trade represents a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel A. Schreiber sold 9,108 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $99.04, for a total transaction of $902,056.32. Following the completion of the sale, the chief executive officer owned 1,514,426 shares of the company’s stock, valued at $149,988,751.04. The trade was a 0.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 150,300 shares of company stock valued at $13,996,026 over the last 90 days. Corporate insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

A number of large investors have recently bought and sold shares of LMND. Caitong International Asset Management Co. Ltd grew its holdings in shares of Lemonade by 8,080.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock valued at $29,000 after buying an additional 404 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of Lemonade during the third quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Lemonade during the fourth quarter valued at about $33,000. Torren Management LLC acquired a new position in shares of Lemonade during the fourth quarter valued at about $35,000. Finally, Strive Financial Group LLC acquired a new position in shares of Lemonade during the fourth quarter valued at about $38,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Lemonade Company Profile

Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.