Lemonade, Inc. (NYSE:LMND) Receives $71.50 Consensus Target Price from Brokerages

Lemonade, Inc. (NYSE:LMND) has received a consensus rating of “Hold” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $71.50.

LMND has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods upped their price objective on Lemonade from $35.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 25th. Morgan Stanley set a $85.00 target price on Lemonade and gave the stock an “equal weight” rating in a research report on Tuesday, December 16th. Citizens Jmp boosted their price target on shares of Lemonade from $60.00 to $80.00 and gave the company a “market outperform” rating in a report on Monday, November 24th. Finally, Citigroup restated an “outperform” rating on shares of Lemonade in a research report on Friday, January 16th.

Insider Activity

In other Lemonade news, CEO Daniel A. Schreiber sold 126,625 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $94.74, for a total value of $11,996,452.50. Following the sale, the chief executive officer owned 1,523,534 shares in the company, valued at approximately $144,339,611.16. This trade represents a 7.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adina Eckstein sold 41,557 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $78.95, for a total value of $3,280,925.15. Following the transaction, the chief operating officer owned 204,229 shares of the company’s stock, valued at approximately $16,123,879.55. This represents a 16.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 306,350 shares of company stock worth $25,870,918 in the last quarter. Company insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LMND. Bayforest Capital Ltd acquired a new stake in Lemonade in the third quarter worth about $25,000. Strategic Advocates LLC bought a new stake in shares of Lemonade during the 3rd quarter worth about $33,000. NewEdge Advisors LLC acquired a new stake in shares of Lemonade in the 1st quarter worth approximately $35,000. Estabrook Capital Management acquired a new stake in shares of Lemonade in the 2nd quarter worth approximately $44,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Lemonade by 30.7% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,034 shares of the company’s stock valued at $45,000 after acquiring an additional 243 shares in the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.

Lemonade Stock Performance

Shares of NYSE:LMND opened at $90.90 on Tuesday. The company’s fifty day moving average is $79.52 and its two-hundred day moving average is $62.82. Lemonade has a 1-year low of $24.31 and a 1-year high of $99.90. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of -38.03 and a beta of 1.98.

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

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.