Lemonade (NYSE:LMND) PT Raised to $18.00

Lemonade (NYSE:LMND) had its price objective raised by Piper Sandler from $17.00 to $18.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley raised their price target on Lemonade from $13.00 to $14.00 and gave the company an underweight rating in a report on Wednesday, February 28th. Keefe, Bruyette & Woods raised their price target on Lemonade from $16.00 to $18.00 and gave the company a market perform rating in a report on Monday, March 4th. TD Cowen assumed coverage on Lemonade in a report on Wednesday, January 10th. They set a market perform rating and a $17.00 price target for the company. Finally, JMP Securities reiterated a market outperform rating and issued a $40.00 price objective on shares of Lemonade in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $17.88.

Lemonade Price Performance

Shares of LMND opened at $17.38 on Thursday. Lemonade has a 1 year low of $10.27 and a 1 year high of $24.81. The stock has a 50 day simple moving average of $16.84 and a 200-day simple moving average of $16.42.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, April 30th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.14. Lemonade had a negative return on equity of 30.30% and a negative net margin of 48.14%. The business had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $114.13 million. During the same period in the prior year, the firm posted ($0.95) EPS. Lemonade’s quarterly revenue was up 25.1% compared to the same quarter last year. As a group, research analysts forecast that Lemonade will post -2.96 earnings per share for the current year.

Insider Transactions at Lemonade

In other Lemonade news, CFO Timothy E. Bixby bought 10,000 shares of Lemonade stock in a transaction on Wednesday, March 6th. The shares were purchased at an average cost of $16.54 per share, for a total transaction of $165,400.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares in the company, valued at approximately $165,400. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 11.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC raised its stake in shares of Lemonade by 57.0% in the 3rd quarter. Algert Global LLC now owns 96,058 shares of the company’s stock valued at $1,116,000 after purchasing an additional 34,860 shares during the period. Swiss National Bank raised its stake in shares of Lemonade by 1.2% in the 3rd quarter. Swiss National Bank now owns 114,500 shares of the company’s stock valued at $1,330,000 after purchasing an additional 1,400 shares during the period. Seven Eight Capital LP acquired a new stake in shares of Lemonade in the 3rd quarter valued at about $704,000. SG Americas Securities LLC raised its stake in shares of Lemonade by 32.2% in the 4th quarter. SG Americas Securities LLC now owns 42,634 shares of the company’s stock valued at $688,000 after purchasing an additional 10,376 shares during the period. Finally, Cypress Capital Management LLC WY acquired a new stake in shares of Lemonade in the 4th quarter valued at about $946,000. 80.30% of the stock is currently owned by institutional investors.

About Lemonade

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include 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.