JMP Securities Issues Positive Forecast for Lemonade (NYSE:LMND) Stock Price

Lemonade (NYSE:LMND) had its target price hoisted by JMP Securities from $40.00 to $60.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

A number of other research analysts have also recently commented on LMND. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $23.00 to $42.00 in a research note on Wednesday, November 20th. Piper Sandler raised their price objective on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Jefferies Financial Group reduced their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and raised their price objective for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. Finally, BMO Capital Markets raised their price objective on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.43.

Lemonade Stock Up 3.5 %

LMND opened at $51.01 on Friday. The stock has a market cap of $3.64 billion, a PE ratio of -16.78 and a beta of 1.68. Lemonade has a 52 week low of $14.03 and a 52 week high of $53.85. The business’s fifty day simple moving average is $23.64 and its 200 day simple moving average is $19.78.

Lemonade (NYSE:LMND) last released its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. The business had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.88) earnings per share. As a group, equities analysts anticipate that Lemonade will post -3.05 earnings per share for the current year.

Insider Transactions at Lemonade

In other news, insider Maya Prosor sold 30,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $50.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the insider now directly owns 29,286 shares in the company, valued at approximately $1,464,300. This represents a 50.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Maria Angelidis-Smith sold 33,554 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $30.33, for a total transaction of $1,017,692.82. Following the completion of the sale, the director now owns 40,916 shares of the company’s stock, valued at $1,240,982.28. This trade represents a 45.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,892 shares of company stock worth $5,283,045. Company insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its holdings in Lemonade by 1.2% in the third quarter. State Street Corp now owns 1,233,662 shares of the company’s stock worth $20,343,000 after buying an additional 14,028 shares during the period. Marshall Wace LLP purchased a new stake in Lemonade in the second quarter worth about $14,181,000. Landscape Capital Management L.L.C. lifted its holdings in Lemonade by 17.6% in the third quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock worth $5,308,000 after buying an additional 48,260 shares during the period. FMR LLC increased its stake in shares of Lemonade by 93.0% during the third quarter. FMR LLC now owns 318,321 shares of the company’s stock valued at $5,249,000 after purchasing an additional 153,362 shares in the last quarter. Finally, General Equity Holdings LP bought a new position in shares of Lemonade during the second quarter valued at approximately $5,198,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

About Lemonade

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.