JMP Securities Forecasts Strong Price Appreciation for Lemonade (NYSE:LMND) Stock

Lemonade (NYSE:LMND) had its price objective upped by stock analysts at JMP Securities from $40.00 to $60.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 21.75% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets increased their price target on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and upped their price objective for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. Jefferies Financial Group lowered their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $23.00 to $42.00 in a research report on Wednesday. Finally, Piper Sandler increased their price objective on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Lemonade has an average rating of “Hold” and a consensus price target of $30.43.

Lemonade Stock Down 2.1 %

Shares of NYSE:LMND opened at $49.28 on Friday. The company’s 50-day moving average price is $22.98 and its 200 day moving average price is $19.52. The company has a market cap of $3.52 billion, a PE ratio of -16.21 and a beta of 1.68. Lemonade has a fifty-two week low of $14.03 and a fifty-two week high of $52.22.

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

Insider Transactions at Lemonade

In related news, CFO Timothy E. Bixby sold 2,050 shares of Lemonade stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total value of $37,392.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Adina Eckstein sold 23,644 shares of Lemonade stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $40.00, for a total value of $945,760.00. Following the completion of the transaction, the chief operating officer now directly owns 189,653 shares in the company, valued at $7,586,120. This represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,892 shares of company stock valued at $3,783,045 in the last quarter. Insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Several hedge funds have recently made changes to their positions in LMND. Blue Trust Inc. grew its stake in Lemonade by 220.0% during the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after acquiring an additional 1,879 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Lemonade by 321.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after purchasing an additional 3,403 shares during the period. Quest Partners LLC grew its position in Lemonade by 1,647.6% during the third quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock valued at $150,000 after purchasing an additional 8,584 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in Lemonade in the 2nd quarter valued at approximately $180,000. Finally, Bristlecone Advisors LLC acquired a new position in Lemonade in the 3rd quarter valued at approximately $218,000. 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.