Morgan Stanley Cuts Lemonade (NYSE:LMND) Price Target to $56.00

Lemonade (NYSE:LMND) had its price objective decreased by Morgan Stanley from $65.00 to $56.00 in a report released on Wednesday, Marketbeat.com reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other brokerages have also recently commented on LMND. Truist Financial dropped their price target on Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Piper Sandler reduced their price objective on Lemonade from $75.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Keefe, Bruyette & Woods upgraded Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price objective on the stock in a research report on Thursday, July 30th. TD Cowen reaffirmed a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Finally, UBS Group set a $75.00 target price on Lemonade in a research report on Thursday, May 21st. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Lemonade has an average rating of “Hold” and an average price target of $64.50.

Lemonade Trading Up 5.1%

Shares of NYSE LMND opened at $53.29 on Wednesday. The company has a market cap of $4.12 billion, a price-to-earnings ratio of -29.12 and a beta of 1.84. Lemonade has a 12 month low of $46.16 and a 12 month high of $99.90. The stock has a 50-day moving average price of $60.00 and a two-hundred day moving average price of $60.00.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($0.56) EPS 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 during the quarter, compared to the consensus estimate of $291.01 million. During the same quarter in the prior year, the firm earned ($0.60) EPS. The firm’s revenue was up 79.4% compared to the same quarter last year. On average, sell-side analysts predict that Lemonade will post -1.85 earnings per share for the current year.

Insider Buying and Selling at Lemonade

In other news, insider John Sheldon Peters sold 11,000 shares of Lemonade stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $52.55, for a total transaction of $578,050.00. Following the transaction, the insider owned 76,942 shares in the company, valued at approximately $4,043,302.10. The trade was a 12.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maya Prosor sold 1,220 shares of Lemonade stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total transaction of $64,867.40. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 21,007 shares of company stock valued at $1,198,251 in the last ninety days. Insiders own 12.20% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd raised its position in shares of Lemonade by 8,080.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock worth $29,000 after acquiring an additional 404 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Lemonade in the fourth quarter worth approximately $33,000. Torren Management LLC bought a new stake in Lemonade in the fourth quarter valued at approximately $35,000. NewEdge Advisors LLC bought a new stake in Lemonade in the first quarter valued at approximately $35,000. Finally, Strive Financial Group LLC acquired a new stake in Lemonade during the 4th quarter valued at approximately $38,000. Institutional investors own 80.30% of the company’s stock.

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.