Lemonade, Inc. (NYSE:LMND) Given Consensus Recommendation of “Hold” by Brokerages

Lemonade, Inc. (NYSE:LMND) has been given an average recommendation of “Hold” by the ten brokerages that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $64.8889.

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Lemonade in a report on Tuesday, May 26th. Citizens Jmp dropped their target price on Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Piper Sandler dropped their target price on Lemonade from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Truist Financial dropped 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. Finally, TD Cowen reissued a “hold” rating on shares of Lemonade in a report on Monday, June 8th.

Lemonade Stock Performance

Shares of NYSE LMND opened at $65.11 on Friday. The firm has a market capitalization of $5.00 billion, a PE ratio of -34.82 and a beta of 1.83. Lemonade has a fifty-two week low of $35.70 and a fifty-two week high of $99.90. The stock’s 50-day simple moving average is $57.84 and its 200-day simple moving average is $65.46.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.11. The company had revenue of $258.00 million for the quarter, compared to analyst estimates of $251.51 million. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The firm’s revenue was up 70.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.86) earnings per share. On average, sell-side analysts forecast that Lemonade will post -1.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider John Sheldon Peters sold 3,608 shares of Lemonade stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $52.94, for a total value of $191,007.52. Following the sale, the insider directly owned 81,386 shares in the company, valued at $4,308,574.84. The trade was a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Maya Prosor sold 1,220 shares of Lemonade stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of the sale, the insider owned 187,573 shares in the company, valued at approximately $9,973,256.41. This trade represents a 0.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 6,563 shares of company stock worth $348,125. Corporate insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

A number of institutional investors have recently modified their holdings of LMND. Price T Rowe Associates Inc. MD boosted its stake in shares of Lemonade by 186.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock valued at $105,644,000 after buying an additional 965,321 shares in the last quarter. Man Group plc purchased a new stake in shares of Lemonade in the fourth quarter valued at approximately $25,978,000. Goldman Sachs Group Inc. boosted its stake in shares of Lemonade by 50.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 866,476 shares of the company’s stock valued at $61,676,000 after buying an additional 291,122 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Lemonade by 45.0% in the third quarter. Two Sigma Investments LP now owns 813,062 shares of the company’s stock valued at $43,523,000 after buying an additional 252,298 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Lemonade by 255.2% in the first quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock valued at $10,370,000 after buying an additional 237,044 shares in the last quarter. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

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.