Lemonade, Inc. (NYSE:LMND) Receives $66.78 Average Target Price from Brokerages

Lemonade, Inc. (NYSE:LMND) has earned an average rating of “Hold” from the ten analysts that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $66.7778.

Several analysts have issued reports on the stock. Citizens Jmp decreased their price target on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Piper Sandler increased their target price on shares of Lemonade from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a research note on Friday, July 17th. Finally, UBS Group set a $75.00 target price on Lemonade in a research report on Thursday, May 21st.

Lemonade Stock Down 4.3%

Shares of LMND stock opened at $60.71 on Tuesday. Lemonade has a 12 month low of $35.70 and a 12 month high of $99.90. The firm has a market cap of $4.66 billion, a PE ratio of -32.47 and a beta of 1.79. The stock has a 50 day moving average of $61.13 and a 200-day moving average of $64.48.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.11. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The business had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. During the same quarter last year, the company posted ($0.86) earnings per share. Lemonade’s quarterly revenue was up 70.6% on a year-over-year basis. As a group, equities analysts predict that Lemonade will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider John Sheldon Peters sold 3,444 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $79.00, for a total value of $272,076.00. Following the completion of the transaction, the insider directly owned 77,942 shares of the company’s stock, valued at $6,157,418. This trade represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Maya Prosor sold 1,220 shares of Lemonade stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total transaction of $64,867.40. Following the sale, the insider owned 187,573 shares in the company, valued at $9,973,256.41. This represents a 0.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 10,007 shares of company stock valued at $620,201 in the last quarter. Corporate insiders own 12.20% of the company’s stock.

Hedge Funds Weigh In On Lemonade

A number of hedge funds and other institutional investors have recently made changes to their positions in LMND. Vanguard Group Inc. raised its holdings in shares of Lemonade by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company’s stock worth $448,822,000 after buying an additional 26,312 shares in the last quarter. Clear Street Group Inc. acquired a new stake in Lemonade in the 4th quarter valued at $2,448,000. Pursue Wealth Partners LLC bought a new stake in Lemonade in the fourth quarter valued at $2,814,000. Halter Ferguson Financial Inc. grew its position in Lemonade by 4.3% in the fourth quarter. Halter Ferguson Financial Inc. now owns 600,863 shares of the company’s stock valued at $42,769,000 after acquiring an additional 24,957 shares during the period. Finally, Leo Wealth LLC acquired a new position in Lemonade during the fourth quarter worth $2,699,000. 80.30% of the stock is owned by institutional investors.

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.