Lemonade (NYSE:LMND) Price Target Raised to $15.00

Lemonade (NYSE:LMND) had its price objective increased by BMO Capital Markets from $13.00 to $15.00 in a report issued on Thursday,Benzinga reports. The firm currently has an underperform rating on the stock.

LMND has been the subject of several other reports. Keefe, Bruyette & Woods cut shares of Lemonade from a “market perform” rating to an “underperform” rating and boosted their target price for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $23.00 to $42.00 in a research report on Wednesday, November 20th. Jefferies Financial Group cut their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. Piper Sandler lifted their price target on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, JMP Securities restated a “market outperform” rating and set a $40.00 price objective on shares of Lemonade in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.43.

Lemonade Stock Down 2.1 %

Shares of LMND stock opened at $49.28 on Thursday. The company has a market capitalization of $3.52 billion, a PE ratio of -16.21 and a beta of 1.68. The firm has a 50 day moving average price of $22.98 and a two-hundred day moving average price of $19.54. Lemonade has a 12-month low of $14.03 and a 12-month high of $52.22.

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

Insider Buying and Selling at Lemonade

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total transaction of $37,392.00. Following the completion of the sale, the chief financial officer now directly owns 271,552 shares in the company, valued at approximately $4,953,108.48. This trade represents a 0.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Adina Eckstein sold 23,644 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $50.00, for a total value of $1,182,200.00. Following the completion of the transaction, the chief operating officer now directly owns 189,653 shares in the company, valued at $9,482,650. This represents a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 102,892 shares of company stock worth $3,783,045. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Several institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its holdings in shares of Lemonade by 292.5% during the third quarter. Barclays PLC now owns 87,414 shares of the company’s stock valued at $1,443,000 after acquiring an additional 65,144 shares in the last quarter. Main Management ETF Advisors LLC bought a new stake in Lemonade during the 3rd quarter valued at $614,000. State Street Corp raised its holdings in Lemonade by 1.2% during the third 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 last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Lemonade by 321.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after buying an additional 3,403 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Lemonade during the third quarter valued at about $1,571,000. Institutional investors and hedge funds 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.