Piper Sandler Has Lowered Expectations for Lemonade (NYSE:LMND) Stock Price

Lemonade (NYSE:LMND) had its price target reduced by analysts at Piper Sandler from $51.00 to $47.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler‘s price objective points to a potential upside of 13.68% from the stock’s previous close.

Several other brokerages also recently commented on LMND. Morgan Stanley dropped their price target on Lemonade from $56.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 6th. Keefe, Bruyette & Woods raised Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price objective for the company in a research report on Thursday, July 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research report on Thursday, October 15th. Finally, Wall Street Zen upgraded shares of Lemonade from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.00.

Lemonade Stock Performance

Shares of NYSE:LMND opened at $41.34 on Friday. The company has a market cap of $3.20 billion, a P/E ratio of -22.59 and a beta of 1.98. The stock’s 50-day moving average is $46.94 and its 200-day moving average is $57.89. Lemonade has a 52-week low of $39.60 and a 52-week high of $99.90.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.02. Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%. The business had revenue of $336.10 million for the quarter, compared to analyst estimates of $322.74 million. During the same period in the previous year, the company posted ($0.51) earnings per share. The firm’s revenue for the quarter was up 72.8% on a year-over-year basis. As a group, equities analysts predict that Lemonade will post -1.83 EPS for the current year.

Insiders Place Their Bets

In other news, insider John Peters sold 11,000 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $52.55, for a total value of $578,050.00. Following the completion of the transaction, the insider owned 76,942 shares in the company, valued at approximately $4,043,302.10. This represents a 12.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Maya Prosor sold 1,040 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $54.63, for a total transaction of $56,815.20. Following the transaction, the insider directly owned 186,533 shares of the company’s stock, valued at $10,190,297.79. The trade was a 0.55% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 15,148 shares of company stock valued at $804,250. Corporate insiders own 12.20% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Several large investors have recently modified their holdings of LMND. BlackRock Inc. bought a new position in shares of Lemonade during the 2nd quarter worth approximately $393,408,000. Bank of New York Mellon Corp acquired a new stake in Lemonade in the 2nd quarter valued at $13,861,000. Canada Pension Plan Investment Board bought a new stake in Lemonade in the second quarter valued at $13,550,000. Bank of America Corp DE bought a new stake in Lemonade in the second quarter valued at $11,569,000. Finally, Man Group plc bought a new stake in Lemonade in the second quarter valued at $8,864,000. 80.30% of the stock is currently owned by institutional investors.

Lemonade News Roundup

Here are the key news stories impacting Lemonade this week:

• Positive Sentiment: Q3 revenue rose 72.8% year over year to $336.1 million, topping the $322.7 million consensus estimate. The loss of $0.56 per share was also narrower than the $0.58 loss analysts expected. Read More.
• Positive Sentiment: Lemonade forecast Q4 revenue of $342 million to $346 million, above the $341.1 million FactSet estimate, pointing to continued growth. Read More.
• Positive Sentiment: The company completed nationwide availability of renters insurance by launching in Minnesota, expanding the reach of its first product offered in all 50 states and Washington, D.C. Read More.
• Negative Sentiment: Despite the earnings and revenue beats, LMND shares came under pressure after the report. The quarterly loss per share widened from $0.51 a year earlier, while coverage highlighted rising expense headwinds and continued negative profitability as investor concerns. Read More. · Read More.

Lemonade Company Profile

Lemonade, Inc is a technology-driven insurance company that offers insurance products through digital platforms, including its mobile application and website. The company uses artificial intelligence, automation and data analytics to support policy purchasing, customer service and claims processing.

Lemonade’s product offerings include renters, homeowners, car, pet and term life insurance. Coverage and product availability vary by jurisdiction, and some policies are provided through regulated insurance subsidiaries or underwritten in partnership with other insurers.

Founded in 2015 by Daniel Schreiber and Shai Wininger, Lemonade serves customers in the United States and selected European markets, including Germany, the Netherlands, France and the United Kingdom.