Lemonade, Inc. (NYSE:LMND) Stock Has Average Price Target of $63.50

Lemonade, Inc. (NYSE:LMND) has earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $63.50.

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods upgraded Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 target price for the company in a research report on Thursday, July 30th. Piper Sandler reduced their target price on shares of Lemonade from $75.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Wall Street Zen raised shares of Lemonade from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. Morgan Stanley lowered their target price on shares of Lemonade from $56.00 to $48.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a report on Thursday, October 15th.

Lemonade Stock Performance

Shares of LMND stock opened at $42.92 on Thursday. Lemonade has a 52-week low of $42.53 and a 52-week high of $99.90. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of -23.45 and a beta of 1.87. The firm has a fifty day moving average of $47.86 and a 200-day moving average of $58.65.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share for the quarter, meeting the consensus estimate of ($0.56). Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The business had revenue of $294.40 million for the quarter, compared to analyst estimates of $291.01 million. During the same period in the previous year, the business earned ($0.60) EPS. The firm’s revenue was up 79.4% on a year-over-year basis. On average, sell-side analysts predict that Lemonade will post -1.83 earnings per share for the current year.

Insider Activity at Lemonade

In related news, insider Maya Prosor sold 1,040 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $54.63, for a total transaction of $56,815.20. Following the completion of the sale, the insider directly owned 186,533 shares of the company’s stock, valued at $10,190,297.79. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Peters sold 11,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $52.55, for a total value of $578,050.00. Following the sale, the insider directly owned 76,942 shares of the company’s stock, valued at $4,043,302.10. This represents a 12.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,148 shares of company stock worth $804,250 over the last three months. 12.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LMND. Ameritas Advisory Services LLC acquired a new stake in Lemonade during the 2nd quarter worth $30,000. State of Wyoming bought a new position in shares of Lemonade in the 1st quarter worth $42,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Lemonade during the second quarter worth $128,000. Sterling Capital Management LLC grew its stake in shares of Lemonade by 838.3% during the third quarter. Sterling Capital Management LLC now owns 2,374 shares of the company’s stock worth $107,000 after purchasing an additional 2,121 shares during the period. Finally, Nykredit A S acquired a new stake in shares of Lemonade during the second quarter worth $156,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Lemonade Company Profile

Lemonade, Inc is a technology-driven insurance company that offers insurance products through digital platforms, including its mobile application and website. The company uses artificial intelligence, automation and data analytics to support policy purchasing, customer service and claims processing.

Lemonade’s product offerings include renters, homeowners, car, pet and term life insurance. Coverage and product availability vary by jurisdiction, and some policies are provided through regulated insurance subsidiaries or underwritten in partnership with other insurers.

Founded in 2015 by Daniel Schreiber and Shai Wininger, Lemonade serves customers in the United States and selected European markets, including Germany, the Netherlands, France and the United Kingdom.