Lemonade (NYSE:LMND) Upgraded by Truist Financial to “Strong-Buy” Rating

Truist Financial upgraded shares of Lemonade (NYSE:LMND) to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other brokerages also recently issued reports on LMND. JMP Securities set a $80.00 price target on shares of Lemonade in a report on Monday, November 24th. Citigroup reaffirmed a “market outperform” rating on shares of Lemonade in a report on Monday, November 24th. Keefe, Bruyette & Woods lifted their target price on shares of Lemonade from $35.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, November 25th. Piper Sandler decreased their price target on Lemonade from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $67.50.

Lemonade Stock Performance

NYSE LMND opened at $80.97 on Tuesday. Lemonade has a twelve month low of $24.31 and a twelve month high of $85.20. The stock has a market cap of $6.05 billion, a PE ratio of -33.88 and a beta of 1.98. The firm has a 50-day simple moving average of $74.66 and a 200 day simple moving average of $58.18.

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

Insiders Place Their Bets

In other news, COO Adina Eckstein sold 41,557 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $78.95, for a total transaction of $3,280,925.15. Following the completion of the transaction, the chief operating officer directly owned 204,229 shares of the company’s stock, valued at $16,123,879.55. This trade represents a 16.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Sheldon Peters sold 18,930 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $72.77, for a total transaction of $1,377,536.10. Following the sale, the insider directly owned 83,467 shares in the company, valued at $6,073,893.59. This trade represents a 18.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 160,725 shares of company stock valued at $12,264,465 in the last quarter. 14.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in Lemonade by 7.2% in the 4th quarter. GAMMA Investing LLC now owns 3,529 shares of the company’s stock valued at $251,000 after acquiring an additional 236 shares during the period. Strategic Advocates LLC acquired a new stake in Lemonade during the 3rd quarter worth approximately $33,000. CIBC Bancorp USA Inc. bought a new stake in shares of Lemonade during the 3rd quarter valued at $318,000. Advisory Services Network LLC acquired a new position in shares of Lemonade during the 3rd quarter worth $216,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Lemonade by 11.6% in the third quarter. CANADA LIFE ASSURANCE Co now owns 17,769 shares of the company’s stock valued at $966,000 after buying an additional 1,844 shares in the last quarter. Institutional investors and hedge funds 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.