Lemonade (NYSE:LMND) Price Target Lowered to $56.00 at Morgan Stanley

Lemonade (NYSE:LMND) had its price target dropped by analysts at Morgan Stanley from $65.00 to $56.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 11.85% from the stock’s current price.

Several other brokerages also recently commented on LMND. UBS Group set a $75.00 price target on shares of Lemonade in a research report on Thursday, May 21st. Piper Sandler cut their target price on shares of Lemonade from $75.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Citizens Jmp decreased their target price on Lemonade from $85.00 to $80.00 and set a “market outperform” rating for the company in a research report on Thursday, April 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a report on Friday, July 17th. Finally, TD Cowen reissued a “hold” rating on shares of Lemonade in a research note on Monday, June 8th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $64.50.

Lemonade Trading Up 0.2%

Shares of LMND opened at $50.07 on Wednesday. The business’s 50-day moving average price is $60.30 and its 200 day moving average price is $60.58. The stock has a market capitalization of $3.88 billion, a P/E ratio of -27.36 and a beta of 1.84. Lemonade has a 1-year low of $46.16 and a 1-year high of $99.90.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.56) EPS for the quarter, meeting analysts’ consensus estimates of ($0.56). Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The company had revenue of $294.40 million during the quarter, compared to analyst estimates of $291.01 million. During the same period in the prior year, the firm earned ($0.60) earnings per share. The business’s quarterly revenue was up 79.4% on a year-over-year basis. On average, research analysts predict that Lemonade will post -1.83 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Maya Prosor sold 1,220 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of the sale, the insider directly owned 187,573 shares in the company, valued at approximately $9,973,256.41. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 11,000 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $52.55, for a total transaction of $578,050.00. Following the transaction, the insider directly owned 76,942 shares in the company, valued at $4,043,302.10. The trade was a 12.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 21,007 shares of company stock worth $1,198,251 in the last 90 days. 12.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Lemonade

Large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Lemonade by 8,080.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock valued at $29,000 after acquiring an additional 404 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Lemonade during the fourth quarter worth approximately $33,000. Torren Management LLC bought a new stake in shares of Lemonade during the fourth quarter valued at approximately $35,000. NewEdge Advisors LLC bought a new stake in shares of Lemonade in the first quarter valued at approximately $35,000. Finally, Strive Financial Group LLC acquired a new position in Lemonade in the 4th quarter valued at $38,000. Institutional investors own 80.30% of the company’s stock.

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.