Lemonade, Inc. (NYSE:LMND) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Lemonade, Inc. (NYSE:LMND) have received an average recommendation of “Reduce” from the eight brokerages that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $30.43.

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

Insider Activity at Lemonade

In other news, CFO Timothy E. Bixby sold 2,050 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Adina Eckstein sold 23,644 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.00, for a total transaction of $945,760.00. Following the transaction, the chief operating officer now directly owns 189,653 shares of the company’s stock, valued at $7,586,120. The trade was a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 132,892 shares of company stock valued at $5,283,045 over the last 90 days. Corporate insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

A number of large investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP boosted its stake in shares of Lemonade by 31.0% in the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after buying an additional 42,822 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Lemonade by 1,549.0% in the third quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock valued at $324,000 after acquiring an additional 18,480 shares during the period. Millennium Management LLC boosted its position in Lemonade by 388.7% in the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after purchasing an additional 131,784 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Lemonade by 436.2% during the 2nd quarter. Squarepoint Ops LLC now owns 45,573 shares of the company’s stock valued at $752,000 after purchasing an additional 37,073 shares during the period. Finally, Tidal Investments LLC purchased a new stake in shares of Lemonade during the 1st quarter valued at about $718,000. Institutional investors own 80.30% of the company’s stock.

Lemonade Price Performance

LMND opened at $49.16 on Thursday. Lemonade has a one year low of $14.03 and a one year high of $53.85. The business has a 50 day simple moving average of $24.89 and a two-hundred day simple moving average of $20.22. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of -16.17 and a beta of 1.68.

Lemonade (NYSE:LMND) last announced its quarterly 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. The company had revenue of $136.60 million during the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.88) earnings per share. As a group, sell-side analysts expect that Lemonade 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.