Lemonade, Inc. (NYSE:LMND) Receives $64.11 Average Target Price from Analysts

Shares of Lemonade, Inc. (NYSE:LMND) have been assigned a consensus recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $66.8750.

Several research analysts have weighed in on LMND shares. Citizens Jmp lowered their price objective on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Truist Financial decreased their target price on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. UBS Group set a $75.00 target price on shares of Lemonade in a report on Thursday, May 21st. Keefe, Bruyette & Woods raised shares of Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price target on the stock in a research report on Thursday, July 30th. Finally, TD Cowen reiterated a “hold” rating on shares of Lemonade in a research note on Monday, June 8th.

Insider Activity at Lemonade

In other news, insider John Sheldon 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 value of $578,050.00. Following the completion of the sale, the insider directly owned 76,942 shares of the company’s stock, valued at $4,043,302.10. This represents a 12.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Maya Prosor sold 1,220 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of the transaction, the insider owned 187,573 shares in the company, valued at $9,973,256.41. This represents a 0.65% 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 three months, insiders sold 21,007 shares of company stock valued at $1,198,251. Company insiders own 12.20% of the company’s stock.

Institutional Investors Weigh In On Lemonade

A number of institutional investors and hedge funds have recently bought and sold shares of LMND. BlackRock Inc. purchased a new position in Lemonade during the 2nd quarter worth $393,408,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Lemonade by 186.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock valued at $105,644,000 after purchasing an additional 965,321 shares during the last quarter. Man Group plc bought a new position in shares of Lemonade during the fourth quarter valued at about $25,978,000. Goldman Sachs Group Inc. lifted its position in shares of Lemonade by 50.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 866,476 shares of the company’s stock valued at $61,676,000 after purchasing an additional 291,122 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Lemonade by 45.0% during the third quarter. Two Sigma Investments LP now owns 813,062 shares of the company’s stock valued at $43,523,000 after purchasing an additional 252,298 shares in the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

Lemonade Stock Down 5.2%

NYSE LMND opened at $49.88 on Friday. Lemonade has a 52 week low of $46.16 and a 52 week high of $99.90. The business has a 50 day moving average price of $60.37 and a 200-day moving average price of $60.88. The company has a market cap of $3.86 billion, a price-to-earnings ratio of -27.26 and a beta of 1.84.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.56). Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.The company had revenue of $294.40 million for the quarter, compared to analysts’ expectations of $291.01 million. During the same period last year, the business earned ($0.60) EPS. Lemonade’s quarterly revenue was up 79.4% compared to the same quarter last year. On average, equities research analysts anticipate that Lemonade will post -1.83 earnings per share for the current year.

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.