Lemonade (NYSE:LMND) Given New $62.00 Price Target at Piper Sandler

Lemonade (NYSE:LMND) had its price objective trimmed by Piper Sandler from $65.00 to $62.00 in a research note released on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts also recently issued reports on the stock. Morgan Stanley upgraded shares of Lemonade from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $80.00 to $85.00 in a research report on Tuesday, March 17th. Citizens Jmp dropped their price objective on Lemonade from $85.00 to $80.00 and set a “market outperform” rating for the company in a report on Thursday. Keefe, Bruyette & Woods boosted their price objective on Lemonade from $40.00 to $44.00 and gave the stock an “underperform” rating in a report on Tuesday, February 24th. Cantor Fitzgerald boosted their price objective on Lemonade from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Finally, Wolfe Research set a $44.00 price objective on Lemonade in a report on Tuesday, February 24th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.88.

Lemonade Stock Up 1.4%

Shares of NYSE LMND opened at $56.76 on Thursday. The firm’s 50-day simple moving average is $60.07 and its 200 day simple moving average is $68.32. The company has a market cap of $4.36 billion, a price-to-earnings ratio of -30.35 and a beta of 2.04. Lemonade has a 12-month low of $28.47 and a 12-month high of $99.90.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate 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 26.42%. The firm’s quarterly revenue was up 70.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.86) EPS. On average, equities analysts expect that Lemonade will post -1.74 earnings per share for the current year.

Insiders Place Their Bets

In other Lemonade news, insider John Sheldon Peters sold 3,571 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $52.50, for a total transaction of $187,477.50. Following the completion of the sale, the insider directly owned 76,729 shares of the company’s stock, valued at approximately $4,028,272.50. The trade was a 4.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 5,567 shares of company stock worth $287,517. Insiders own 14.70% of the company’s stock.

Institutional Trading of Lemonade

Institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd increased its stake in shares of Lemonade by 8,080.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock valued at $29,000 after acquiring an additional 404 shares during the last quarter. Bayforest Capital Ltd bought a new stake in shares of Lemonade in the 3rd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Lemonade in the 4th quarter valued at about $33,000. Torren Management LLC bought a new stake in shares of Lemonade in the 4th quarter valued at about $35,000. Finally, Strive Financial Group LLC bought a new stake in shares of Lemonade in the 4th quarter valued at about $38,000. 80.30% of the stock is owned by institutional investors.

About Lemonade

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.