Brokerages Set Lemonade, Inc. (NYSE:LMND) Target Price at $64.89

Lemonade, Inc. (NYSE:LMND) has received an average recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $64.8889.

Several research firms have weighed in on LMND. Citizens Jmp lowered their price objective on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a research report on Tuesday, April 21st. Piper Sandler lowered their price objective on shares of Lemonade from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Finally, Wolfe Research set a $44.00 price objective on shares of Lemonade in a research report on Tuesday, February 24th.

Hedge Funds Weigh In On Lemonade

Several institutional investors and hedge funds have recently added to or reduced their stakes in LMND. Caitong International Asset Management Co. Ltd grew its position in Lemonade by 8,080.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock worth $29,000 after purchasing an additional 404 shares in the last quarter. Strategic Advocates LLC purchased a new position in shares of Lemonade during the 3rd quarter valued at $33,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Lemonade during the 4th quarter valued at $33,000. Torren Management LLC purchased a new position in shares of Lemonade during the 4th quarter valued at $35,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Lemonade during the 1st quarter valued at $35,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Lemonade Stock Performance

Lemonade stock opened at $52.84 on Monday. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of -28.26 and a beta of 1.83. Lemonade has a 1 year low of $34.10 and a 1 year high of $99.90. The firm’s 50 day moving average price is $59.62 and its two-hundred day moving average price is $67.67.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Wednesday, April 29th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.11. The firm had revenue of $258.00 million for the quarter, compared to analyst estimates of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The firm’s quarterly revenue was up 70.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.86) earnings per share. As a group, equities analysts predict that Lemonade will post -1.69 EPS for the current fiscal year.

Lemonade Company Profile

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.