Brokerages Set Lemonade, Inc. (NYSE:LMND) Price Target at $17.11

Lemonade, Inc. (NYSE:LMND) has received a consensus recommendation of “Reduce” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $17.11.

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Lemonade from $13.00 to $14.00 and gave the company an “underweight” rating in a research report on Wednesday, February 28th. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 target price on shares of Lemonade in a report on Monday, April 15th. Piper Sandler reissued a “neutral” rating and issued a $17.00 price target on shares of Lemonade in a report on Thursday, February 29th. TD Cowen assumed coverage on shares of Lemonade in a research note on Wednesday, January 10th. They set a “market perform” rating and a $17.00 price objective on the stock. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Lemonade from $16.00 to $18.00 and gave the company a “market perform” rating in a report on Monday, March 4th.

Lemonade Stock Up 0.6 %

Lemonade stock opened at $17.34 on Monday. The stock has a 50-day moving average price of $16.85 and a 200 day moving average price of $16.38. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -5.09 and a beta of 1.89. Lemonade has a 52 week low of $10.27 and a 52 week high of $24.81.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.14. The business had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $114.13 million. Lemonade had a negative net margin of 55.12% and a negative return on equity of 31.29%. The business’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.95) EPS. Research analysts anticipate that Lemonade will post -3.03 EPS for the current fiscal year.

Insider Activity at Lemonade

In related news, CFO Timothy E. Bixby acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were acquired at an average cost of $16.54 per share, with a total value of $165,400.00. Following the completion of the acquisition, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $165,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lemonade

Hedge funds have recently made changes to their positions in the company. Capstone Investment Advisors LLC purchased a new stake in shares of Lemonade during the first quarter worth approximately $214,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Lemonade by 8.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,938 shares of the company’s stock valued at $1,853,000 after purchasing an additional 9,107 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Lemonade by 236.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,246 shares of the company’s stock worth $85,000 after purchasing an additional 3,687 shares during the last quarter. Halter Ferguson Financial Inc. purchased a new stake in shares of Lemonade during the fourth quarter worth $6,429,000. Finally, Quest Partners LLC purchased a new stake in shares of Lemonade during the fourth quarter worth $151,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

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.