Lemonade, Inc. (NYSE:LMND) Receives Average Rating of “Reduce” from Analysts

Lemonade, Inc. (NYSE:LMND) has been given a consensus recommendation of “Reduce” by the six analysts that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $32.67.

A number of brokerages recently issued reports on LMND. Piper Sandler raised their price target on Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Jefferies Financial Group reduced their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. JMP Securities boosted their target price on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $23.00 to $42.00 in a research note on Wednesday, November 20th. Finally, Keefe, Bruyette & Woods lowered Lemonade from a “market perform” rating to an “underperform” rating and increased their price objective for the company from $18.00 to $21.00 in a report on Thursday, November 7th.

Lemonade Stock Performance

Shares of Lemonade stock opened at $33.12 on Friday. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -10.90 and a beta of 2.17. The stock has a 50 day moving average price of $40.15 and a 200-day moving average price of $26.61. Lemonade has a one year low of $14.03 and a one year high of $53.85.

Lemonade (NYSE:LMND) last announced its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter in the previous year, the business earned ($0.88) EPS. The company’s quarterly revenue was up 19.3% on a year-over-year basis. Sell-side analysts predict that Lemonade will post -3.04 earnings per share for the current fiscal year.

Insider Activity

In other news, insider John Sheldon Peters sold 28,985 shares of Lemonade stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $38.67, for a total value of $1,120,849.95. Following the sale, the insider now directly owns 69,508 shares of the company’s stock, valued at $2,687,874.36. The trade was a 29.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Softbank Group Capital Ltd sold 719,815 shares of Lemonade stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $44.29, for a total value of $31,880,606.35. Following the completion of the sale, the insider now directly owns 11,263,569 shares in the company, valued at $498,863,471.01. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 900,499 shares of company stock worth $39,114,376 over the last three months. 12.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Lemonade

A number of institutional investors have recently made changes to their positions in the company. Marshall Wace LLP acquired a new position in Lemonade during the second quarter worth $14,181,000. General Equity Holdings LP acquired a new position in Lemonade during the second quarter worth $5,198,000. FMR LLC boosted its stake in Lemonade by 93.0% during the third quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after buying an additional 153,362 shares during the last quarter. Millennium Management LLC boosted its stake in Lemonade by 388.7% during the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after buying an additional 131,784 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in Lemonade during the third quarter worth $1,571,000. 80.30% of the stock is owned by institutional investors and hedge funds.

Lemonade Company Profile

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.