Lemonade (NYSE:LMND) Price Target Cut to $60.00 by Analysts at Truist Financial

Lemonade (NYSE:LMND) had its target price lowered by Truist Financial from $70.00 to $60.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

LMND has been the subject of a number of other research reports. Citizens Jmp decreased their target price on Lemonade from $80.00 to $75.00 and set a “market outperform” rating for the company in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a research report on Thursday, October 15th. Keefe, Bruyette & Woods upgraded shares of Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price objective for the company 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 research report on Saturday, September 19th. Finally, Morgan Stanley cut their target price on shares of Lemonade from $56.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 6th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.12.

Lemonade Trading Down 4.6%

Shares of NYSE LMND traded down $1.89 on Friday, reaching $39.59. 1,683,682 shares of the company traded hands, compared to its average volume of 1,111,121. Lemonade has a fifty-two week low of $39.11 and a fifty-two week high of $99.90. The company has a 50 day moving average of $46.66 and a 200 day moving average of $57.69. The stock has a market capitalization of $3.06 billion, a PE ratio of -21.06 and a beta of 1.98.

Lemonade (NYSE:LMND) last released its earnings results on Thursday, November 5th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.02. Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The business had revenue of $336.10 million for the quarter, compared to analysts’ expectations of $322.74 million. During the same period last year, the company earned ($0.51) earnings per share. The company’s quarterly revenue was up 72.8% on a year-over-year basis. As a group, research analysts expect that Lemonade will post -1.83 earnings per share for the current year.

Insider Buying and Selling at Lemonade

In other Lemonade news, insider John Peters sold 11,000 shares of the business’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 transaction, the insider owned 76,942 shares in the company, valued at $4,043,302.10. The trade was a 12.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Maya Prosor sold 1,040 shares of the business’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 transaction, the insider owned 186,533 shares in the company, valued at $10,190,297.79. This represents a 0.55% decrease in their position. 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. Insiders sold 15,148 shares of company stock valued at $804,250 over the last 90 days. Insiders own 12.20% of the company’s stock.

Institutional Trading of Lemonade

A number of hedge funds and other institutional investors have recently modified their holdings of LMND. BlackRock Inc. purchased a new position in Lemonade in the second quarter valued at about $393,408,000. Bank of America Corp DE boosted its stake in shares of Lemonade by 52.1% during the 1st quarter. Bank of America Corp DE now owns 360,411 shares of the company’s stock valued at $22,591,000 after buying an additional 123,484 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Lemonade during the 2nd quarter valued at approximately $13,861,000. Canada Pension Plan Investment Board acquired a new stake in shares of Lemonade during the second quarter worth approximately $13,550,000. Finally, Man Group plc bought a new stake in shares of Lemonade in the second quarter worth $8,864,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

More Lemonade News

Here are the key news stories impacting Lemonade this week:

• Positive Sentiment: Q3 revenue rose 72.8% year over year to $336.1 million, above the $322.7 million consensus estimate. The $0.56-per-share loss was slightly narrower than analysts expected, and Q4 revenue guidance of $342 million to $346 million edged above estimates. Lemonade Q3 results
• Neutral Sentiment: Truist cut its price target to $60 from $70 but kept a Buy rating; Citizens JMP lowered its target to $75 from $80 and maintained Market Outperform. Piper Sandler reduced its target to $47 from $51 and retained a Neutral rating. The target cuts temper the analyst outlook, while the ratings remain mixed but generally supportive. Truist rating
• Negative Sentiment: The loss widened from $0.51 per share a year earlier, and coverage flagged rising expenses as a potential headwind to Lemonade’s AI-driven growth. The post-earnings decline suggests investors focused on profitability concerns despite the revenue and EPS beats. Q3 expense headwinds analysis

About Lemonade

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.