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

Shares of Lemonade, Inc. (NYSE:LMND) have earned a consensus rating of “Hold” from the nine brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $64.50.

A number of analysts have recently issued reports on LMND shares. Wall Street Zen downgraded shares of Lemonade from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. TD Cowen restated a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods upgraded shares of Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price target on the stock in a research note on Thursday, July 30th. Finally, Morgan Stanley cut their price target on shares of Lemonade from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 19th.

Lemonade Price Performance

LMND stock opened at $49.56 on Wednesday. The stock has a market capitalization of $3.84 billion, a P/E ratio of -27.08 and a beta of 1.87. Lemonade has a fifty-two week low of $46.16 and a fifty-two week high of $99.90. The business has a 50-day moving average of $56.11 and a 200-day moving average of $58.31.

Lemonade (NYSE:LMND) last announced its earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.56). The business had revenue of $294.40 million for the quarter, compared to analyst estimates of $291.01 million. Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.Lemonade’s revenue for the quarter was up 79.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.60) EPS. Equities analysts expect that Lemonade will post -1.85 EPS for the current year.

Insider Transactions at Lemonade

In related news, insider Maya Prosor sold 1,040 shares of Lemonade stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $54.63, for a total value of $56,815.20. Following the sale, the insider owned 186,533 shares of the company’s stock, valued at approximately $10,190,297.79. The trade was a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Peters sold 2,249 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $54.45, for a total value of $122,458.05. Following the transaction, the insider directly owned 73,834 shares of the company’s stock, valued at $4,020,261.30. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 18,592 shares of company stock worth $1,076,326. 12.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lemonade

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Lemonade in the second quarter valued at approximately $393,408,000. Geode Capital Management LLC increased its holdings in shares of Lemonade by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 1,438,358 shares of the company’s stock worth $102,400,000 after acquiring an additional 67,562 shares during the last quarter. Halter Ferguson Financial Inc. raised its stake in Lemonade by 4.3% in the 4th quarter. Halter Ferguson Financial Inc. now owns 600,863 shares of the company’s stock valued at $42,769,000 after acquiring an additional 24,957 shares during the period. Bank of America Corp DE lifted its holdings in Lemonade by 52.1% during the 1st quarter. Bank of America Corp DE now owns 360,411 shares of the company’s stock valued at $22,591,000 after purchasing an additional 123,484 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Lemonade during the second quarter worth $13,861,000. Institutional investors own 80.30% of the company’s stock.

About Lemonade

Lemonade, Inc is a technology-driven insurance company that offers digital insurance products through its website and mobile applications. Its platform uses automation, artificial intelligence and behavioral economics to streamline policy applications, claims processing and customer service.

The company provides renters, homeowners, pet, term life and automobile insurance. Product availability varies by location, and Lemonade distributes its offerings through regulated insurance entities and licensed partners.