Lemonade, Inc. (NYSE:LMND) Given Average Rating of “Reduce” by Brokerages

Lemonade, Inc. (NYSE:LMND) has been assigned a consensus recommendation of “Reduce” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $32.67.

Several research analysts have recently commented on the company. JMP Securities raised their price objective on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th. Jefferies Financial Group lowered their price objective 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. Piper Sandler lifted their target price on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets upped their price target on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 21st.

Lemonade Stock Up 3.8 %

Shares of LMND opened at $33.03 on Friday. Lemonade has a 52 week low of $14.03 and a 52 week high of $53.85. The stock has a market cap of $2.36 billion, a P/E ratio of -10.87 and a beta of 2.17. The business’s 50 day moving average price is $39.98 and its 200-day moving average price is $26.04.

Lemonade (NYSE:LMND) last posted its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping 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 business had revenue of $136.60 million during the quarter, compared to analyst estimates of $129.10 million. During the same quarter last year, the company earned ($0.88) EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities analysts anticipate that Lemonade will post -3.04 EPS for the current year.

Insiders Place Their Bets

In other news, Director Maria Angelidis-Smith bought 18,512 shares of the stock in a transaction on Friday, November 8th. The stock was bought at an average cost of $27.42 per share, for a total transaction of $507,599.04. Following the completion of the purchase, the director now directly owns 18,512 shares in the company, valued at approximately $507,599.04. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Sheldon Peters sold 1,790 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $45.50, for a total value of $81,445.00. Following the transaction, the insider now directly owns 88,493 shares in the company, valued at $4,026,431.50. This represents a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 900,499 shares of company stock worth $39,114,376. 12.50% of the stock is currently owned by company insiders.

Institutional Trading of Lemonade

Several large investors have recently added to or reduced their stakes in the company. Mandatum Life Insurance Co Ltd purchased a new position in shares of Lemonade during the fourth quarter worth $378,000. Johnson & White Wealth Management LLC acquired a new stake in Lemonade in the fourth quarter valued at approximately $234,000. Tidal Investments LLC increased its holdings in Lemonade by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 45,631 shares of the company’s stock worth $752,000 after acquiring an additional 2,017 shares in the last quarter. Barclays PLC raised its position in shares of Lemonade by 292.5% during the 3rd quarter. Barclays PLC now owns 87,414 shares of the company’s stock worth $1,443,000 after purchasing an additional 65,144 shares during the last quarter. Finally, Main Management ETF Advisors LLC purchased a new position in shares of Lemonade in the third quarter valued at approximately $614,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Company Profile

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.