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

Lemonade, Inc. (NYSE:LMND) has been assigned a consensus rating of “Reduce” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $30.43.

LMND has been the subject of a number of research reports. Piper Sandler raised their price target on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $23.00 to $42.00 in a research note on Wednesday, November 20th. BMO Capital Markets upped their price target on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 21st. Jefferies Financial Group lowered their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Finally, JMP Securities boosted their price objective on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd.

Insider Activity

In related news, Director Michael A. Eisenberg sold 12,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $40.15, for a total transaction of $481,800.00. Following the completion of the transaction, the director now directly owns 94,670 shares of the company’s stock, valued at approximately $3,801,000.50. This represents a 11.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 7,067 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $43.02, for a total value of $304,022.34. Following the completion of the transaction, the insider now owns 10,699,211 shares of the company’s stock, valued at approximately $460,280,057.22. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 869,724 shares of company stock worth $37,912,082 over the last quarter. 12.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC raised its stake in Lemonade by 4.6% in the third quarter. Tidal Investments LLC now owns 45,631 shares of the company’s stock valued at $752,000 after buying an additional 2,017 shares during the period. Barclays PLC increased its holdings in shares of Lemonade by 292.5% during the 3rd quarter. Barclays PLC now owns 87,414 shares of the company’s stock worth $1,443,000 after acquiring an additional 65,144 shares during the last quarter. Main Management ETF Advisors LLC bought a new stake in Lemonade in the 3rd quarter valued at $614,000. State Street Corp lifted its holdings in Lemonade by 1.2% during the 3rd quarter. State Street Corp now owns 1,233,662 shares of the company’s stock valued at $20,343,000 after purchasing an additional 14,028 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in Lemonade by 321.3% during the third 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 period. Institutional investors own 80.30% of the company’s stock.

Lemonade Stock Performance

Shares of NYSE:LMND opened at $41.54 on Monday. The company’s fifty day moving average is $34.10 and its 200-day moving average is $23.42. Lemonade has a 52 week low of $14.03 and a 52 week high of $53.85. The company has a market capitalization of $2.97 billion, a PE ratio of -13.66 and a beta of 2.09.

Lemonade (NYSE:LMND) last posted its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. The company had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. Lemonade’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.88) earnings per share. On average, analysts forecast that Lemonade will post -3.04 EPS 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.