Lemonade (NYSE:LMND) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Lemonade (NYSE:LMND) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. They currently have $40.00 price objective on the stock.

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. Jefferies Financial Group started coverage on Lemonade in a research report on Thursday, November 18th. They issued an underperform rating and a $49.00 price objective for the company. Barclays cut their price objective on Lemonade from $62.00 to $43.00 and set an equal weight rating for the company in a research report on Thursday, January 6th. Morgan Stanley dropped their target price on Lemonade from $90.00 to $74.00 and set an equal weight rating for the company in a research report on Friday, October 15th. JMP Securities dropped their target price on Lemonade from $130.00 to $95.00 and set an outperform rating for the company in a research report on Wednesday, November 10th. Finally, Oppenheimer dropped their target price on Lemonade from $95.00 to $85.00 and set an outperform rating for the company in a research report on Wednesday, November 10th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Lemonade currently has an average rating of Hold and a consensus price target of $58.00.

Shares of LMND stock opened at $35.22 on Wednesday. The stock’s fifty day simple moving average is $47.40 and its 200 day simple moving average is $67.22. Lemonade has a one year low of $33.77 and a one year high of $182.90.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Monday, November 8th. The company reported ($1.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.15) by $0.07. Lemonade had a negative return on equity of 21.38% and a negative net margin of 189.90%. The business had revenue of $35.70 million for the quarter, compared to analyst estimates of $33.63 million. During the same quarter in the previous year, the firm earned ($0.57) EPS. Research analysts expect that Lemonade will post -3.92 earnings per share for the current fiscal year.

In other Lemonade news, insider John Sheldon Peters sold 500 shares of the business’s stock in a transaction dated Wednesday, November 3rd. The stock was sold at an average price of $72.00, for a total value of $36,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Timothy E. Bixby sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 3rd. The stock was sold at an average price of $74.93, for a total value of $1,123,950.00. The disclosure for this sale can be found here. Insiders sold 25,500 shares of company stock valued at $1,804,300 in the last quarter. 38.80% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Lemonade by 14.9% during the second quarter. Vanguard Group Inc. now owns 2,854,389 shares of the company’s stock worth $312,299,000 after buying an additional 371,170 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Lemonade by 51.5% during the second quarter. JPMorgan Chase & Co. now owns 1,730,544 shares of the company’s stock worth $189,338,000 after buying an additional 588,600 shares during the period. BlackRock Inc. boosted its position in shares of Lemonade by 24.9% during the third quarter. BlackRock Inc. now owns 1,457,300 shares of the company’s stock worth $97,654,000 after buying an additional 290,931 shares during the period. Thrive Capital Management LLC acquired a new position in shares of Lemonade during the third quarter worth about $54,772,000. Finally, Morgan Stanley boosted its position in Lemonade by 151.3% during the third quarter. Morgan Stanley now owns 864,856 shares of the company’s stock valued at $57,953,000 after purchasing an additional 520,747 shares during the last quarter. 57.41% of the stock is owned by institutional investors.

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 renters, homeowners, pet, and life insurance products, as well as landlord insurance policies.

See Also: Preferred Stock

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Analyst Recommendations for Lemonade (NYSE:LMND)

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