Lemonade (NYSE:LMND) Price Target Raised to $44.00 at Piper Sandler

Lemonade (NYSE:LMND) had its price objective upped by Piper Sandler from $25.00 to $44.00 in a report published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently commented on LMND. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and boosted their price target for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $23.00 to $42.00 in a research report on Wednesday, November 20th. JMP Securities restated a “market outperform” rating and set a $40.00 price target on shares of Lemonade in a report on Tuesday, October 15th. Finally, Jefferies Financial Group decreased their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.43.

Lemonade Stock Performance

LMND opened at $49.28 on Thursday. The stock has a fifty day moving average of $22.98 and a 200-day moving average of $19.54. The company has a market capitalization of $3.52 billion, a P/E 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 issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter in the previous year, the company earned ($0.88) EPS. The business’s revenue was up 19.3% on a year-over-year basis. On average, equities research analysts predict that Lemonade will post -3.05 earnings per share for the current fiscal year.

Insider Activity at Lemonade

In related news, Director Maria Angelidis-Smith sold 33,554 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $30.33, for a total value of $1,017,692.82. Following the sale, the director now directly owns 40,916 shares in the company, valued at approximately $1,240,982.28. The trade was a 45.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Adina Eckstein sold 23,644 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $50.00, for a total value of $1,182,200.00. Following the sale, the chief operating officer now directly owns 189,653 shares in the company, valued at $9,482,650. This trade 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 over the last ninety days. Corporate insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Large investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in Lemonade by 292.5% in the 3rd quarter. Barclays PLC now owns 87,414 shares of the company’s stock worth $1,443,000 after buying an additional 65,144 shares during the period. Main Management ETF Advisors LLC purchased a new stake in shares of Lemonade in the third quarter worth $614,000. State Street Corp increased its holdings in shares of Lemonade by 1.2% during the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after acquiring an additional 14,028 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Lemonade by 321.3% in the 3rd 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 last quarter. Finally, Verition Fund Management LLC bought a new position in Lemonade in the 3rd quarter worth about $1,571,000. 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.