Lemonade, Inc. (NYSE:LMND) Receives $71.71 Consensus PT from Analysts

Shares of Lemonade, Inc. (NYSE:LMND) have been assigned a consensus recommendation of “Hold” from the nine research firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $71.7143.

A number of equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Lemonade from $35.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, November 25th. Morgan Stanley set a $85.00 price target on shares of Lemonade and gave the company an “equal weight” rating in a research note on Tuesday, December 16th. Cantor Fitzgerald upped their target price on shares of Lemonade from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Finally, Citigroup reiterated an “outperform” rating on shares of Lemonade in a research note on Friday, January 16th.

Insiders Place Their Bets

In related news, Director Debra Schwartz sold 4,200 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $83.59, for a total value of $351,078.00. Following the sale, the director owned 21,567 shares in the company, valued at approximately $1,802,785.53. This represents a 16.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Adina Eckstein sold 41,557 shares of Lemonade stock in a transaction on Monday, December 8th. The stock was sold at an average price of $78.95, for a total transaction of $3,280,925.15. Following the transaction, the chief operating officer directly owned 204,229 shares of the company’s stock, valued at approximately $16,123,879.55. This trade represents a 16.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 246,742 shares of company stock valued at $21,729,370 over the last 90 days. 12.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LMND. Federated Hermes Inc. grew its stake in shares of Lemonade by 195.9% in the 3rd quarter. Federated Hermes Inc. now owns 157,592 shares of the company’s stock valued at $8,436,000 after buying an additional 104,342 shares during the period. Analyst IMS Investment Management Services Ltd. grew its stake in Lemonade by 80.7% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 571,768 shares of the company’s stock valued at $25,049,000 after acquiring an additional 255,368 shares during the period. Halter Ferguson Financial Inc. increased its holdings in shares of Lemonade by 101.3% during the third quarter. Halter Ferguson Financial Inc. now owns 575,906 shares of the company’s stock valued at $30,828,000 after acquiring an additional 289,803 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Lemonade by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 160,328 shares of the company’s stock worth $7,024,000 after purchasing an additional 6,646 shares during the period. Finally, Titleist Asset Management LLC bought a new position in shares of Lemonade in the 2nd quarter worth $203,000. 80.30% of the stock is owned by institutional investors.

Lemonade Stock Down 11.8%

NYSE LMND opened at $50.56 on Friday. The firm’s 50 day moving average is $76.99 and its 200-day moving average is $66.47. The company has a market capitalization of $3.78 billion, a PE ratio of -22.37 and a beta of 2.02. Lemonade has a 12-month low of $24.31 and a 12-month high of $99.90.

Lemonade (NYSE:LMND) last released its earnings results 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. Lemonade had a negative net margin of 22.43% and a negative return on equity of 31.25%. The business had revenue of $228.10 million during the quarter, compared to the consensus estimate of $218.07 million. During the same quarter last year, the firm earned ($0.42) earnings per share. The firm’s revenue for the quarter was up 53.3% compared to the same quarter last year. As a group, sell-side analysts expect that Lemonade will post -3.03 EPS for the current year.

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.