Lemonade (NYSE:LMND) Stock Rating Upgraded by Morgan Stanley

Lemonade (NYSE:LMND) was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm currently has a $42.00 price objective on the stock, up from their previous price objective of $23.00. Morgan Stanley’s price target would suggest a potential downside of 16.60% from the company’s previous close.

LMND has been the subject of several other reports. Piper Sandler lifted their target price on shares of Lemonade from $18.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and set a $40.00 target price on shares of Lemonade in a research report on Tuesday, October 15th. Jefferies Financial Group dropped their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and lifted their target price for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.57.

Lemonade Trading Up 8.1 %

LMND stock opened at $50.36 on Wednesday. The firm has a 50 day moving average of $22.36 and a 200-day moving average of $19.29. Lemonade has a 12 month low of $14.03 and a 12 month high of $52.22. The firm has a market capitalization of $3.60 billion, a P/E ratio of -16.57 and a beta of 1.68.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company had revenue of $136.60 million during the quarter, compared to analyst estimates of $129.10 million. During the same period last year, the business earned ($0.88) earnings per share. Lemonade’s revenue was up 19.3% compared to the same quarter last year. Sell-side analysts predict that Lemonade will post -3.05 EPS for the current year.

Insider Activity

In other Lemonade news, insider Maya Prosor sold 20,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.00, for a total value of $600,000.00. Following the completion of the sale, the insider now owns 59,286 shares in the company, valued at approximately $1,778,580. This trade represents a 25.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Timothy E. Bixby sold 2,050 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total value of $37,392.00. Following the completion of the sale, the chief financial officer now owns 271,552 shares of the company’s stock, valued at approximately $4,953,108.48. This trade represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,892 shares of company stock valued at $3,783,045. 12.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lemonade

Several institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp lifted its holdings in Lemonade by 1.2% in the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after buying an additional 14,028 shares during the period. Marshall Wace LLP purchased a new position in shares of Lemonade in the 2nd quarter valued at approximately $14,181,000. Landscape Capital Management L.L.C. lifted its stake in shares of Lemonade by 17.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock valued at $5,308,000 after purchasing an additional 48,260 shares during the period. FMR LLC lifted its stake in shares of Lemonade by 93.0% in the 3rd quarter. FMR LLC now owns 318,321 shares of the company’s stock valued at $5,249,000 after purchasing an additional 153,362 shares during the period. Finally, General Equity Holdings LP purchased a new position in shares of Lemonade in the 2nd quarter valued at approximately $5,198,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.