Lemonade, Inc. (NYSE:LMND) Given Average Rating of “Reduce” by Brokerages

Shares of Lemonade, Inc. (NYSE:LMND) have earned an average recommendation of “Reduce” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $21.33.

Several brokerages recently commented on LMND. Piper Sandler boosted their price target on Lemonade from $18.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday. JMP Securities reissued a “market outperform” rating and issued a $40.00 target price on shares of Lemonade in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group cut their price target on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th.

Insider Transactions at Lemonade

In related news, CFO Timothy E. Bixby sold 2,050 shares of Lemonade stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total value of $37,392.00. Following the transaction, the chief financial officer now owns 271,552 shares in the company, valued at $4,953,108.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LMND. Blue Trust Inc. grew its stake in shares of Lemonade by 220.0% in the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock worth $45,000 after acquiring an additional 1,879 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in Lemonade in the 2nd quarter valued at $180,000. Capstone Investment Advisors LLC acquired a new stake in Lemonade in the 1st quarter worth $214,000. Bristlecone Advisors LLC bought a new position in shares of Lemonade during the 3rd quarter worth about $218,000. Finally, Headlands Technologies LLC acquired a new position in shares of Lemonade during the first quarter valued at about $231,000. 80.30% of the stock is owned by institutional investors.

Lemonade Stock Up 1.6 %

LMND stock opened at $24.15 on Friday. The company has a 50 day moving average of $18.11 and a two-hundred day moving average of $17.70. Lemonade has a 12-month low of $13.16 and a 12-month high of $25.98. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -7.94 and a beta of 1.67.

Lemonade (NYSE:LMND) last released its quarterly earnings data 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. Lemonade had a negative return on equity of 31.86% and a negative net margin of 43.51%. The firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter last year, the firm earned ($0.88) earnings per share. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, research analysts anticipate that Lemonade will post -3.04 EPS for the current year.

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.