Lemonade, Inc. (NYSE:LMND) Given Consensus Recommendation of “Hold” by Analysts

Shares of Lemonade, Inc. (NYSE:LMND) have earned an average rating of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $67.50.

A number of analysts have recently weighed in on the stock. JMP Securities set a $80.00 price objective on shares of Lemonade in a research note on Monday, November 24th. Keefe, Bruyette & Woods increased their price target on Lemonade from $35.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 25th. Truist Financial started coverage on Lemonade in a report on Tuesday. They issued a “buy” rating and a $98.00 price objective for the company. Citigroup restated a “market outperform” rating on shares of Lemonade in a research note on Monday, November 24th. Finally, Morgan Stanley set a $85.00 price target on Lemonade and gave the company an “equal weight” rating in a research report on Tuesday, December 16th.

Lemonade Stock Down 0.4%

Shares of NYSE:LMND opened at $80.67 on Friday. Lemonade has a 52-week low of $24.31 and a 52-week high of $85.20. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of -33.75 and a beta of 1.98. The business has a 50-day moving average price of $75.10 and a 200-day moving average price of $58.34.

Lemonade (NYSE:LMND) last issued its earnings results on Wednesday, November 5th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.21. Lemonade had a negative return on equity of 31.86% and a negative net margin of 26.39%.The firm had revenue of $194.50 million for the quarter, compared to analyst estimates of $185.06 million. During the same quarter in the prior year, the firm earned ($0.95) earnings per share. Lemonade’s revenue for the quarter was up 42.4% on a year-over-year basis. As a group, equities analysts anticipate that Lemonade will post -3.03 EPS for the current fiscal year.

Insider Activity at Lemonade

In related news, Director Debra Schwartz sold 4,200 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $83.59, for a total transaction of $351,078.00. Following the sale, the director owned 21,567 shares in the company, valued at approximately $1,802,785.53. This trade represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Sheldon Peters sold 18,930 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $72.77, for a total transaction of $1,377,536.10. Following the completion of the transaction, the insider owned 83,467 shares of the company’s stock, valued at approximately $6,073,893.59. This trade represents a 18.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 170,725 shares of company stock worth $13,064,465 in the last three months. Company insiders own 14.70% of the company’s stock.

Institutional Investors Weigh In On Lemonade

A number of institutional investors have recently modified their holdings of the business. State of Wyoming acquired a new position in Lemonade in the 1st quarter worth about $49,000. Nomura Holdings Inc. purchased a new stake in shares of Lemonade in the first quarter valued at approximately $416,000. AQR Capital Management LLC raised its stake in shares of Lemonade by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 30,490 shares of the company’s stock worth $958,000 after buying an additional 15,779 shares during the period. Millennium Management LLC lifted its position in shares of Lemonade by 255.2% during the 1st quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock valued at $10,370,000 after buying an additional 237,044 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in Lemonade in the 1st quarter valued at $35,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

About Lemonade

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.