Lemonade, Inc. (NYSE:LMND) Receives $64.88 Consensus Price Target from Analysts

Lemonade, Inc. (NYSE:LMND) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $64.25.

LMND has been the topic of several recent analyst reports. Truist Financial reduced their target price on Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Piper Sandler reduced their price objective on Lemonade from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Wolfe Research set a $44.00 price objective on Lemonade in a report on Tuesday, February 24th. Morgan Stanley set a $80.00 price objective on Lemonade in a report on Friday, May 8th. Finally, Citizens Jmp reduced their price objective on Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th.

Lemonade Price Performance

Shares of LMND opened at $53.01 on Thursday. The company has a market capitalization of $4.07 billion, a P/E ratio of -28.35 and a beta of 1.85. Lemonade has a one year low of $28.71 and a one year high of $99.90. The business’s 50 day simple moving average is $60.29 and its 200-day simple moving average is $68.80.

Lemonade (NYSE:LMND) last announced its earnings results on Wednesday, April 29th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.11. The business had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.Lemonade’s revenue was up 70.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.86) EPS. On average, sell-side analysts anticipate that Lemonade will post -1.67 EPS for the current fiscal year.

Insider Transactions at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 3,571 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $52.50, for a total transaction of $187,477.50. Following the transaction, the insider owned 76,729 shares of the company’s stock, valued at approximately $4,028,272.50. This represents a 4.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 5,567 shares of company stock worth $287,517. 14.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Lido Advisors LLC acquired a new position in Lemonade during the 1st quarter worth $1,318,000. State of Wyoming acquired a new position in shares of Lemonade in the 1st quarter valued at $42,000. Ascent Wealth Partners LLC lifted its stake in shares of Lemonade by 20.8% in the 1st quarter. Ascent Wealth Partners LLC now owns 4,775 shares of the company’s stock valued at $299,000 after purchasing an additional 823 shares during the period. NFSG Corp lifted its stake in shares of Lemonade by 456.8% in the 1st quarter. NFSG Corp now owns 3,257 shares of the company’s stock valued at $204,000 after purchasing an additional 2,672 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Lemonade by 24.8% in the 1st quarter. Principal Financial Group Inc. now owns 4,453 shares of the company’s stock valued at $279,000 after purchasing an additional 884 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.

About Lemonade

Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.