Truist Financial Issues Pessimistic Forecast for Lemonade (NYSE:LMND) Stock Price

Lemonade (NYSE:LMND) had its price target lowered by research analysts at Truist Financial from $70.00 to $60.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial‘s price objective would indicate a potential upside of 51.46% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a report on Thursday, October 15th. Citizens Jmp decreased their price objective on shares of Lemonade from $80.00 to $75.00 and set a “market outperform” rating for the company in a report on Friday. Morgan Stanley dropped their target price on shares of Lemonade from $56.00 to $48.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 6th. Wall Street Zen raised shares of Lemonade from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Finally, 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 report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.12.

Lemonade Trading Down 4.5%

Shares of NYSE:LMND traded down $1.86 during trading on Friday, reaching $39.62. The company had a trading volume of 731,612 shares, compared to its average volume of 1,738,941. The company has a fifty day moving average of $46.94 and a two-hundred day moving average of $57.89. The stock has a market capitalization of $3.07 billion, a P/E ratio of -21.67 and a beta of 1.98. Lemonade has a 12 month low of $39.11 and a 12 month high of $99.90.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.02. Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The company had revenue of $336.10 million during the quarter, compared to the consensus estimate of $322.74 million. During the same period in the previous year, the firm posted ($0.51) EPS. The firm’s revenue was up 72.8% compared to the same quarter last year. As a group, equities research analysts predict that Lemonade will post -1.83 earnings per share for the current year.

Insider Buying and Selling at Lemonade

In other news, insider Maya Prosor sold 1,040 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $54.63, for a total transaction of $56,815.20. Following the sale, the insider owned 186,533 shares in the company, valued at approximately $10,190,297.79. The trade was a 0.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $54.45, for a total transaction of $122,458.05. Following the completion of the sale, the insider directly owned 73,834 shares in the company, valued at $4,020,261.30. This represents a 2.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last ninety days, insiders sold 15,148 shares of company stock worth $804,250. 12.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Lemonade

Several hedge funds have recently bought and sold shares of LMND. Ameritas Advisory Services LLC purchased a new stake in Lemonade in the second quarter worth about $30,000. Allworth Financial LP increased its stake in shares of Lemonade by 115.2% during the third quarter. Allworth Financial LP now owns 622 shares of the company’s stock valued at $28,000 after purchasing an additional 333 shares in the last quarter. State of Wyoming purchased a new position in shares of Lemonade during the first quarter valued at approximately $42,000. Integrated Wealth Concepts LLC purchased a new position in shares of Lemonade during the second quarter valued at approximately $128,000. Finally, Sterling Capital Management LLC lifted its holdings in shares of Lemonade by 838.3% during the third quarter. Sterling Capital Management LLC now owns 2,374 shares of the company’s stock valued at $107,000 after purchasing an additional 2,121 shares during the last quarter. Institutional investors own 80.30% of the company’s stock.

Key Lemonade News

Here are the key news stories impacting Lemonade this week:

• Positive Sentiment: Third-quarter revenue rose 72.8% year over year to $336.1 million, exceeding analyst expectations of $322.7 million. Lemonade’s loss of $0.56 per share was also narrower than the $0.58 consensus estimate. Quarterly earnings report
• Positive Sentiment: The company forecast fourth-quarter revenue of $342 million to $346 million, slightly above the $341.1 million analyst estimate, suggesting continued top-line momentum. Fourth-quarter revenue outlook
• Neutral Sentiment: Citizens JMP lowered its price target to $75 from $80 but maintained a “market outperform” rating. Piper Sandler cut its target to $47 from $51 and kept a “neutral” rating. The reductions may weigh on sentiment, though both targets remain above the recent share price. Citizens JMP price-target update
• Negative Sentiment: LMND shares declined following the earnings release. Although revenue and the quarterly loss beat expectations, the company remained unprofitable, and coverage characterized rising expense pressures as a concern for investors evaluating whether rapid growth can translate into improved profitability. Q3 results and expense headwinds

Lemonade Company Profile

Lemonade, Inc is a technology-driven insurance company that offers insurance products through digital platforms, including its mobile application and website. The company uses artificial intelligence, automation and data analytics to support policy purchasing, customer service and claims processing.

Lemonade’s product offerings include renters, homeowners, car, pet and term life insurance. Coverage and product availability vary by jurisdiction, and some policies are provided through regulated insurance subsidiaries or underwritten in partnership with other insurers.

Founded in 2015 by Daniel Schreiber and Shai Wininger, Lemonade serves customers in the United States and selected European markets, including Germany, the Netherlands, France and the United Kingdom.