Lemonade (NYSE:LMND) Sets New 52-Week High After Analyst Upgrade

Shares of Lemonade, Inc. (NYSE:LMND) hit a new 52-week high on Monday after JMP Securities raised their price target on the stock from $40.00 to $60.00. JMP Securities currently has a market outperform rating on the stock. Lemonade traded as high as $53.85 and last traded at $52.69, with a volume of 1721407 shares changing hands. The stock had previously closed at $49.28.

Several other research analysts have also recently weighed in on the company. Piper Sandler lifted their price target on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and upped their target price for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. Jefferies Financial Group reduced 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. Morgan Stanley upgraded 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, November 20th. Finally, BMO Capital Markets boosted their price target on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $30.43.

Insider Buying and Selling

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 value of $37,392.00. Following the sale, the chief financial officer now owns 271,552 shares of the company’s stock, valued at $4,953,108.48. This trade represents a 0.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Adina Eckstein sold 23,644 shares of the 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 sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,892 shares of company stock valued at $5,283,045. Corporate insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. 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 worth $45,000 after buying an additional 1,879 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in Lemonade by 321.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock worth $74,000 after buying an additional 3,403 shares during the last quarter. Quest Partners LLC grew its stake in Lemonade by 1,647.6% during the 3rd quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock worth $150,000 after buying an additional 8,584 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in Lemonade during the 2nd quarter worth approximately $180,000. Finally, Bristlecone Advisors LLC purchased a new position in Lemonade during the 3rd quarter worth approximately $218,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Trading Up 3.5 %

The business has a 50 day moving average of $23.64 and a 200-day moving average of $19.78. The stock has a market cap of $3.64 billion, a PE ratio of -16.78 and a beta of 1.68.

Lemonade (NYSE:LMND) last announced its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $129.10 million. During the same period last year, the business posted ($0.88) EPS. The company’s revenue was up 19.3% on a year-over-year basis. Research analysts expect that Lemonade, Inc. will post -3.05 EPS for the current fiscal year.

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.