Lemonade, Inc. (NYSE:LMND) Receives $64.50 Consensus PT from Brokerages

Shares of Lemonade, Inc. (NYSE:LMND) have been given an average recommendation of “Hold” by the nine ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $64.50.

A number of brokerages recently commented on LMND. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a research report on Friday, July 17th. Wall Street Zen lowered shares of Lemonade from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. TD Cowen reaffirmed a “hold” rating on shares of Lemonade in a research note on Monday, June 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a report on Tuesday, May 26th. Finally, Piper Sandler decreased their price objective on Lemonade from $75.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th.

Insider Activity at Lemonade

In other news, insider John Peters sold 11,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $52.55, for a total transaction of $578,050.00. Following the completion of the sale, the insider owned 76,942 shares of the company’s stock, valued at approximately $4,043,302.10. This represents a 12.51% 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, insider Maya Prosor sold 1,040 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $54.63, for a total value of $56,815.20. Following the sale, the insider directly owned 186,533 shares of the company’s stock, valued at approximately $10,190,297.79. This trade represents a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 18,592 shares of company stock worth $1,076,326. 12.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lemonade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP purchased a new stake in Lemonade during the 2nd quarter valued at $1,229,000. Integrated Wealth Concepts LLC bought a new position in shares of Lemonade during the second quarter valued at about $128,000. NewEdge Advisors LLC boosted its holdings in shares of Lemonade by 9.7% during the second quarter. NewEdge Advisors LLC now owns 7,041 shares of the company’s stock worth $458,000 after purchasing an additional 621 shares during the period. Baird Financial Group Inc. bought a new stake in shares of Lemonade in the second quarter worth about $3,529,000. Finally, Arizona State Retirement System increased its holdings in Lemonade by 3.7% during the 2nd quarter. Arizona State Retirement System now owns 17,915 shares of the company’s stock valued at $1,165,000 after purchasing an additional 646 shares during the period. 80.30% of the stock is currently owned by institutional investors.

Lemonade Price Performance

NYSE:LMND opened at $49.43 on Wednesday. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -27.01 and a beta of 1.87. The business has a 50 day moving average of $57.25 and a 200 day moving average of $58.29. Lemonade has a 1-year low of $46.16 and a 1-year high of $99.90.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.56) EPS for the quarter, meeting analysts’ consensus estimates of ($0.56). The business had revenue of $294.40 million for the quarter, compared to analysts’ expectations of $291.01 million. Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The business’s quarterly revenue was up 79.4% on a year-over-year basis. During the same period last year, the business earned ($0.60) earnings per share. As a group, sell-side analysts anticipate that Lemonade will post -1.85 EPS for the current year.

Lemonade Company Profile

Lemonade, Inc is a technology-driven insurance company that offers digital insurance products through its website and mobile applications. Its platform uses automation, artificial intelligence and behavioral economics to streamline policy applications, claims processing and customer service.

The company provides renters, homeowners, pet, term life and automobile insurance. Product availability varies by location, and Lemonade distributes its offerings through regulated insurance entities and licensed partners.