Piper Sandler Cuts Lemonade (NYSE:LMND) Price Target to $51.00

Lemonade (NYSE:LMND) had its target price reduced by Piper Sandler from $75.00 to $51.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

LMND has been the topic of several other research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Lemonade in a research note on Tuesday, May 26th. Morgan Stanley reaffirmed an “equal weight” rating and set a $75.00 target price on shares of Lemonade in a report on Wednesday, July 8th. UBS Group set a $75.00 price target on Lemonade in a research report on Thursday, May 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research note on Friday, July 17th. Finally, Truist Financial lowered their price objective on Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.11.

Lemonade Stock Down 0.5%

Shares of LMND opened at $48.32 on Thursday. The business has a 50-day simple moving average of $61.08 and a two-hundred day simple moving average of $63.54. Lemonade has a 12-month low of $35.70 and a 12-month high of $99.90. The stock has a market cap of $3.71 billion, a PE ratio of -26.41 and a beta of 1.79.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.56). The firm had revenue of $294.40 million during 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 26.48%. The company’s revenue was up 79.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.60) EPS. On average, equities research analysts expect that Lemonade will post -1.75 EPS for the current year.

Insider Buying and Selling at Lemonade

In other Lemonade news, insider Maya Prosor sold 1,220 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total transaction of $64,867.40. Following the sale, the insider owned 187,573 shares of the company’s stock, valued at approximately $9,973,256.41. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $52.94, for a total value of $191,007.52. Following the sale, the insider owned 81,386 shares of the company’s stock, valued at approximately $4,308,574.84. The trade was a 4.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last 90 days, insiders sold 10,007 shares of company stock worth $620,201. 12.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lemonade

Large investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB grew its stake in Lemonade by 12.4% during the second quarter. Handelsbanken Fonder AB now owns 20,800 shares of the company’s stock worth $1,353,000 after purchasing an additional 2,300 shares during the period. Bank of America Corp DE lifted its stake in Lemonade by 52.1% in the first quarter. Bank of America Corp DE now owns 360,411 shares of the company’s stock valued at $22,591,000 after buying an additional 123,484 shares during the period. Edgestream Partners L.P. bought a new position in shares of Lemonade during the 1st quarter worth approximately $814,000. California State Teachers Retirement System boosted its holdings in shares of Lemonade by 22.5% during the 1st quarter. California State Teachers Retirement System now owns 72,887 shares of the company’s stock worth $4,569,000 after buying an additional 13,411 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of Lemonade by 148.5% during the 1st quarter. Royal Bank of Canada now owns 31,328 shares of the company’s stock worth $1,964,000 after buying an additional 18,721 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.

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.