Lemonade (NYSE:LMND) Downgraded by Zacks Investment Research to “Sell”


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Zacks Investment Research lowered shares of Lemonade (NYSE:LMND) from a hold rating to a sell rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Lemonade Inc. offers homeowners and renters insurance principally in the United States and contents and liability insurance primarily in Germany and the Netherlands, through its full-stack insurance carriers. Lemonade Inc. is based in New York. “

Other equities analysts also recently issued research reports about the company. Credit Suisse Group began coverage on Lemonade in a research report on Thursday, October 15th. They set an underperform rating and a $56.00 price target on the stock. Piper Sandler increased their price target on Lemonade from $71.00 to $105.00 and gave the stock an overweight rating in a research report on Wednesday, December 16th. Morgan Stanley increased their price target on Lemonade from $70.00 to $90.00 and gave the stock an equal weight rating in a research report on Tuesday. Finally, ValuEngine upgraded Lemonade from a hold rating to a buy rating in a research report on Thursday, October 1st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $87.80.

Shares of LMND opened at $176.64 on Wednesday. Lemonade has a 52 week low of $44.11 and a 52 week high of $188.30. The stock’s 50-day moving average price is $109.62 and its 200-day moving average price is $73.67.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Tuesday, November 10th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.12. The business had revenue of $17.80 million for the quarter, compared to analysts’ expectations of $14.73 million. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, research analysts predict that Lemonade will post -4.36 EPS for the current fiscal year.

In related news, insider Jorge Espinel sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 13th. The shares were sold at an average price of $57.57, for a total transaction of $1,151,400.00. Following the transaction, the insider now owns 20,000 shares in the company, valued at $1,151,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel A. Schreiber sold 77,800 shares of the firm’s stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $57.20, for a total transaction of $4,450,160.00. Following the transaction, the chief executive officer now owns 868,693 shares in the company, valued at approximately $49,689,239.60. The disclosure for this sale can be found here. Insiders sold 1,062,315 shares of company stock worth $97,580,523 in the last 90 days.

Several hedge funds and other institutional investors have recently bought and sold shares of LMND. Steward Partners Investment Advisory LLC bought a new position in shares of Lemonade during the third quarter worth about $25,000. Sowell Financial Services LLC bought a new position in shares of Lemonade during the fourth quarter worth about $31,000. Valeo Financial Advisors LLC bought a new position in shares of Lemonade during the third quarter worth about $33,000. Pacifica Partners Inc. bought a new position in shares of Lemonade during the fourth quarter worth about $34,000. Finally, Eudaimonia Partners LLC bought a new position in shares of Lemonade during the third quarter worth about $37,000. Institutional investors and hedge funds own 3.64% of the company’s stock.

About Lemonade

Lemonade, Inc provides various insurance products in the United States and Europe. Its insurance products cover 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. The company also offers landlord insurance policies to condo and co-op owners who rent out their property to protect their real and personal properties.

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