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

Lemonade, Inc. (NYSE:LMND) has received an average recommendation of “Reduce” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, two have given 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 $31.00.

A number of equities research analysts recently issued reports on the company. BMO Capital Markets increased their price objective on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 21st. JMP Securities raised their price target on Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Piper Sandler cut their price objective on Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $23.00 to $42.00 in a research note on Wednesday, November 20th.

Lemonade Stock Up 4.6 %

Shares of LMND opened at $36.18 on Friday. Lemonade has a twelve month low of $14.03 and a twelve month high of $53.85. The stock has a market cap of $2.63 billion, a PE ratio of -11.90 and a beta of 2.12. The business’s 50-day moving average price is $34.59 and its 200-day moving average price is $30.05.

Lemonade (NYSE:LMND) last posted its earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.19. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business had revenue of $148.80 million for the quarter, compared to analyst estimates of $144.78 million. Analysts expect that Lemonade will post -3.03 earnings per share for the current fiscal year.

Insider Activity at Lemonade

In related news, Director Michael A. Eisenberg sold 12,000 shares of Lemonade stock in a transaction on Friday, December 13th. The shares were sold at an average price of $40.15, for a total value of $481,800.00. Following the transaction, the director now owns 94,670 shares in the company, valued at $3,801,000.50. This trade represents a 11.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the sale, the insider now owns 11,263,569 shares of the company’s stock, valued at approximately $498,863,471.01. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 769,766 shares of company stock valued at $33,851,446. Corporate insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp boosted its stake in shares of Lemonade by 6.8% during the fourth quarter. Jones Financial Companies Lllp now owns 5,870 shares of the company’s stock valued at $215,000 after purchasing an additional 375 shares during the period. Summit Investment Advisors Inc. raised its holdings in Lemonade by 8.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,463 shares of the company’s stock valued at $200,000 after buying an additional 423 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Lemonade by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company’s stock valued at $5,545,000 after buying an additional 442 shares during the period. Nisa Investment Advisors LLC grew its holdings in Lemonade by 4.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company’s stock worth $390,000 after acquiring an additional 500 shares during the last quarter. Finally, Quarry LP increased its position in shares of Lemonade by 300.4% in the fourth quarter. Quarry LP now owns 933 shares of the company’s stock valued at $34,000 after acquiring an additional 700 shares during the period. 80.30% of the stock is currently owned by institutional investors.

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.