Analysts Set Lemonade, Inc. (NYSE:LMND) Price Target at $30.43

Lemonade, Inc. (NYSE:LMND) has been assigned an average recommendation of “Reduce” from the seven brokerages that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $30.43.

Several analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $23.00 to $42.00 in a research note on Wednesday, November 20th. JMP Securities raised their target price on shares of Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd. Jefferies Financial Group lowered their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and lifted their target price for the stock from $18.00 to $21.00 in a report on Thursday, November 7th.

Lemonade Trading Down 10.8 %

Shares of NYSE:LMND opened at $39.40 on Monday. The business has a fifty day simple moving average of $36.36 and a 200 day simple moving average of $24.24. Lemonade has a 1 year low of $14.03 and a 1 year high of $53.85. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -12.96 and a beta of 2.08.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.07. The company had revenue of $136.60 million during the quarter, compared to the consensus estimate of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.88) EPS. On average, sell-side analysts forecast that Lemonade will post -3.04 EPS for the current year.

Insider Activity at Lemonade

In other news, Director Maria Angelidis-Smith bought 18,512 shares of the company’s stock in a transaction on Friday, November 8th. The shares were purchased at an average price of $27.42 per share, with a total value of $507,599.04. Following the transaction, the director now directly owns 18,512 shares in the company, valued at $507,599.04. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Adina Eckstein sold 23,644 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $40.00, for a total transaction of $945,760.00. Following the completion of the transaction, the chief operating officer now owns 189,653 shares in the company, valued at approximately $7,586,120. The trade was a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 871,514 shares of company stock valued at $37,993,527 in the last quarter. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

A number of large investors have recently modified their holdings of LMND. Concurrent Investment Advisors LLC bought a new position in Lemonade during the second quarter valued at approximately $180,000. Van ECK Associates Corp raised its holdings in Lemonade by 12.1% in the 2nd quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock worth $293,000 after purchasing an additional 1,915 shares in the last quarter. American Century Companies Inc. raised its position in shares of Lemonade by 12.7% in the 2nd quarter. American Century Companies Inc. now owns 86,757 shares of the company’s stock worth $1,431,000 after acquiring an additional 9,793 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Lemonade by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 64,665 shares of the company’s stock valued at $1,067,000 after purchasing an additional 5,778 shares during the period. Finally, Seven Eight Capital LP bought a new stake in shares of Lemonade during the 2nd quarter valued at $269,000. 80.30% of the stock is currently owned by institutional investors.

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.