Keefe, Bruyette & Woods Issues Positive Forecast for Lemonade (NYSE:LMND) Stock Price

Lemonade (NYSE:LMND) had its price target upped by research analysts at Keefe, Bruyette & Woods from $40.00 to $44.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 10.34% from the stock’s previous close.

A number of other research firms also recently commented on LMND. Citigroup reiterated an “outperform” rating on shares of Lemonade in a report on Friday, January 16th. Cantor Fitzgerald upped their price target on Lemonade from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Morgan Stanley set a $85.00 price objective on Lemonade and gave the stock an “equal weight” rating in a research note on Tuesday, December 16th. Piper Sandler set a $65.00 target price on Lemonade in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a report on Thursday, January 22nd. Four 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, Lemonade has an average rating of “Hold” and a consensus target price of $72.29.

Lemonade Stock Down 2.8%

NYSE LMND traded down $1.43 on Tuesday, hitting $49.08. The stock had a trading volume of 1,615,805 shares, compared to its average volume of 2,778,109. The company’s 50-day moving average is $76.99 and its two-hundred day moving average is $66.47. Lemonade has a one year low of $24.31 and a one year high of $99.90. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of -21.71 and a beta of 2.02.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Thursday, February 19th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.12. The business had revenue of $228.10 million for the quarter, compared to analysts’ expectations of $218.07 million. Lemonade had a negative net margin of 22.43% and a negative return on equity of 31.25%. The company’s revenue was up 53.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.42) earnings per share. On average, sell-side analysts anticipate that Lemonade will post -3.03 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Debra Schwartz sold 4,200 shares of the company’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 completion of the sale, the director directly owned 21,567 shares of the company’s stock, valued at approximately $1,802,785.53. This represents a 16.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel A. Schreiber sold 9,108 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $99.04, for a total transaction of $902,056.32. Following the sale, the chief executive officer owned 1,514,426 shares of the company’s stock, valued at $149,988,751.04. This trade represents a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 246,742 shares of company stock valued at $21,729,370 in the last quarter. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Lemonade by 186.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock valued at $105,644,000 after buying an additional 965,321 shares in the last quarter. JPMorgan Chase & Co. raised its position in Lemonade by 30.8% in the third quarter. JPMorgan Chase & Co. now owns 3,506,171 shares of the company’s stock worth $187,685,000 after purchasing an additional 825,522 shares in the last quarter. BIT Capital GmbH raised its position in Lemonade by 69.3% in the third quarter. BIT Capital GmbH now owns 1,254,345 shares of the company’s stock worth $67,145,000 after purchasing an additional 513,424 shares in the last quarter. Jump Financial LLC lifted its stake in Lemonade by 365.8% during the second quarter. Jump Financial LLC now owns 581,378 shares of the company’s stock worth $25,470,000 after purchasing an additional 456,571 shares during the period. Finally, Man Group plc acquired a new stake in Lemonade during the fourth quarter valued at approximately $25,978,000. 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.