Lemonade, Inc. (NYSE:LMND) Receives $64.89 Average PT from Analysts

Shares of Lemonade, Inc. (NYSE:LMND) have been given an average recommendation of “Hold” by the nine brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $64.8889.

A number of analysts have commented on the company. Wolfe Research set a $44.00 target price on Lemonade in a report on Tuesday, February 24th. Piper Sandler reduced their target price on Lemonade from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. UBS Group set a $75.00 target price on Lemonade in a report on Thursday, May 21st. Citizens Jmp reduced their target price on Lemonade from $85.00 to $80.00 and set a “market outperform” rating for the company in a report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods raised their price target on Lemonade from $40.00 to $44.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 24th.

Insiders Place Their Bets

In other news, insider Maya Prosor sold 1,220 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total value of $64,867.40. Following the transaction, the insider directly owned 187,573 shares in the company, valued at $9,973,256.41. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,608 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $52.94, for a total value of $191,007.52. Following the completion of the transaction, the insider owned 81,386 shares in the company, valued at approximately $4,308,574.84. This trade represents a 4.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 90 days, insiders sold 6,563 shares of company stock worth $348,125. Company insiders own 14.70% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in Lemonade by 52.1% during the first 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 in the last quarter. Edgestream Partners L.P. purchased a new position in Lemonade during the first quarter valued at $814,000. California State Teachers Retirement System lifted its position in Lemonade by 22.5% during the first quarter. California State Teachers Retirement System now owns 72,887 shares of the company’s stock valued at $4,569,000 after purchasing an additional 13,411 shares in the last quarter. Royal Bank of Canada lifted its position in Lemonade by 148.5% during the first quarter. Royal Bank of Canada now owns 31,328 shares of the company’s stock valued at $1,964,000 after purchasing an additional 18,721 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Lemonade by 9.3% during the first quarter. The Manufacturers Life Insurance Company now owns 35,439 shares of the company’s stock valued at $2,221,000 after purchasing an additional 3,008 shares in the last quarter. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Lemonade Stock Down 0.2%

LMND opened at $51.46 on Monday. The stock has a market cap of $3.95 billion, a PE ratio of -27.52 and a beta of 1.83. The business has a 50 day moving average of $59.03 and a 200-day moving average of $67.43. Lemonade has a 52 week low of $35.70 and a 52 week high of $99.90.

Lemonade (NYSE:LMND) last released its earnings results on Tuesday, April 28th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.11. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The company had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $251.51 million. During the same quarter last year, the business posted ($0.86) EPS. The firm’s revenue for the quarter was up 70.6% compared to the same quarter last year. Equities analysts anticipate that Lemonade will post -1.69 EPS for the current year.

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.