Lemonade, Inc. (NYSE:LMND) Receives Average Rating of “Reduce” from Analysts

Shares of Lemonade, Inc. (NYSE:LMND) have received a consensus rating of “Reduce” from the eight ratings firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $30.43.

A number of research analysts have recently weighed in on the company. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and raised their price target 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 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. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and upped their price target for the company from $18.00 to $21.00 in a report on Thursday, November 7th. BMO Capital Markets raised their price objective on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, November 21st. Finally, JMP Securities upped their target price on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd.

Insider Activity at Lemonade

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the firm’s 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 directly owns 271,552 shares of the company’s stock, valued at approximately $4,953,108.48. This trade represents a 0.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Adina Eckstein sold 23,644 shares of the company’s stock in a transaction dated 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 approximately $7,586,120. This represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,892 shares of company stock valued at $5,283,045. Company insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

A number of large investors have recently bought and sold shares of LMND. GSA Capital Partners LLP grew its stake in shares of Lemonade by 31.0% during the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock valued at $2,983,000 after buying an additional 42,822 shares during the period. International Assets Investment Management LLC grew its position in Lemonade by 1,549.0% during 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 increased its stake in Lemonade by 388.7% during the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after acquiring an additional 131,784 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of Lemonade by 436.2% in the 2nd quarter. Squarepoint Ops LLC now owns 45,573 shares of the company’s stock worth $752,000 after purchasing an additional 37,073 shares during the period. Finally, Tidal Investments LLC acquired a new position in shares of Lemonade in the 1st quarter valued at about $718,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Trading Down 1.5 %

LMND stock opened at $49.16 on Thursday. The company’s 50-day moving average price is $24.89 and its 200 day moving average price is $20.22. Lemonade has a 52 week low of $14.03 and a 52 week high of $53.85. The company has a market cap of $3.51 billion, a P/E 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 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 business had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. During the same quarter in the previous year, the company earned ($0.88) EPS. The company’s quarterly revenue was up 19.3% on a year-over-year basis. On average, equities research analysts expect that Lemonade will post -3.05 earnings per share for the current 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.