Lemonade (NYSE:LMND) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Lemonade (NYSE:LMND) had its price target upped by Keefe, Bruyette & Woods from $44.00 to $48.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential downside of 32.42% from the company’s previous close.

Several other research firms also recently weighed in on LMND. TD Cowen reaffirmed a “hold” rating on shares of Lemonade in a research report on Monday, June 8th. Morgan Stanley reaffirmed an “equal weight” rating and set a $75.00 price objective on shares of Lemonade in a research report on Wednesday. UBS Group set a $75.00 target price on shares of Lemonade in a research note on Thursday, May 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a report on Tuesday, May 26th. Finally, Citizens Jmp dropped their price objective on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Lemonade presently has a consensus rating of “Hold” and a consensus target price of $65.33.

Lemonade Stock Down 8.5%

LMND stock traded down $6.56 during mid-day trading on Wednesday, hitting $71.03. 644,793 shares of the company were exchanged, compared to its average volume of 2,083,111. The firm has a market capitalization of $5.46 billion, a P/E ratio of -37.67 and a beta of 1.79. The business has a fifty day simple moving average of $58.54 and a 200-day simple moving average of $65.26. Lemonade has a 12-month low of $35.70 and a 12-month high of $99.90.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.11. The business had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The business’s revenue was up 70.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.86) EPS. Research analysts predict that Lemonade will post -1.71 EPS for the current year.

Insider Transactions at Lemonade

In related news, insider Maya Prosor sold 1,220 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total transaction of $64,867.40. Following the transaction, the insider owned 187,573 shares in the company, valued at $9,973,256.41. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,608 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $52.94, for a total value of $191,007.52. Following the completion of the sale, the insider owned 81,386 shares of the company’s stock, valued at approximately $4,308,574.84. This represents a 4.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 6,563 shares of company stock valued at $348,125. Insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Lemonade by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company’s stock valued at $448,822,000 after acquiring an additional 26,312 shares during the period. Clear Street Group Inc. acquired a new stake in Lemonade during the 4th quarter worth approximately $2,448,000. Pursue Wealth Partners LLC acquired a new stake in Lemonade during the 4th quarter worth approximately $2,814,000. Halter Ferguson Financial Inc. grew its stake in shares of Lemonade by 4.3% in the 4th quarter. Halter Ferguson Financial Inc. now owns 600,863 shares of the company’s stock valued at $42,769,000 after purchasing an additional 24,957 shares during the last quarter. Finally, Atika Capital Management LLC purchased a new position in shares of Lemonade in the 3rd quarter valued at approximately $3,694,000. 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.