Lemonade (NYSE:LMND) Price Target Raised to $92.00 at Cantor Fitzgerald

Lemonade (NYSE:LMND) had its price objective lifted by analysts at Cantor Fitzgerald from $85.00 to $92.00 in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target points to a potential upside of 12.96% from the stock’s current price.

LMND has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a report on Wednesday, October 8th. Morgan Stanley set a $85.00 price target on shares of Lemonade and gave the stock an “equal weight” rating in a research note on Tuesday, December 16th. JMP Securities set a $80.00 price target on shares of Lemonade in a report on Monday, November 24th. Citigroup reiterated a “market outperform” rating on shares of Lemonade in a research report on Monday, November 24th. Finally, Citizens Jmp raised their price objective on shares of Lemonade from $60.00 to $80.00 and gave the company a “market outperform” rating in a research note on Monday, November 24th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $71.50.

Lemonade Price Performance

Shares of LMND stock opened at $81.45 on Wednesday. Lemonade has a 1-year low of $24.31 and a 1-year high of $88.88. The company has a 50-day moving average of $76.45 and a two-hundred day moving average of $59.38. The firm has a market cap of $6.09 billion, a PE ratio of -34.08 and a beta of 1.98.

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

Insiders Place Their Bets

In other Lemonade news, Director Debra Schwartz sold 4,200 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $83.59, for a total value of $351,078.00. Following the completion of the transaction, the director directly owned 21,567 shares in the company, valued at approximately $1,802,785.53. The trade was a 16.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Sheldon Peters sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $80.00, for a total value of $800,000.00. Following the sale, the insider owned 60,771 shares in the company, valued at $4,861,680. This trade represents a 14.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 170,725 shares of company stock valued at $13,064,465. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Analyst IMS Investment Management Services Ltd. grew its stake in shares of Lemonade by 80.7% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 571,768 shares of the company’s stock valued at $25,049,000 after buying an additional 255,368 shares during the period. Mandatum Life Insurance Co Ltd acquired a new stake in Lemonade in the 2nd quarter valued at $202,000. Halter Ferguson Financial Inc. raised its position in Lemonade by 101.3% in the third quarter. Halter Ferguson Financial Inc. now owns 575,906 shares of the company’s stock valued at $30,828,000 after purchasing an additional 289,803 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Lemonade by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 160,328 shares of the company’s stock valued at $7,024,000 after purchasing an additional 6,646 shares during the period. Finally, Titleist Asset Management LLC acquired a new stake in Lemonade during the 2nd quarter valued at $203,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Lemonade Company Profile

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.