Lemonade (NYSE:LMND) Announces Earnings Results, Misses Expectations By $0.05 EPS

Lemonade (NYSE:LMND) posted its quarterly earnings results on Tuesday. The company reported ($0.81) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by ($0.05), MarketWatch Earnings reports. The business had revenue of $23.50 million during the quarter, compared to analysts’ expectations of $21.88 million. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. Lemonade updated its Q2 2021 guidance to – EPS.

Shares of LMND stock traded down $13.35 during mid-day trading on Wednesday, hitting $60.50. 381,032 shares of the stock were exchanged, compared to its average volume of 3,276,737. Lemonade has a 52-week low of $44.11 and a 52-week high of $188.30. The firm has a fifty day moving average of $89.42 and a 200 day moving average of $104.60.

In other news, insider John Sheldon Peters sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $106.00, for a total transaction of $583,000.00. Following the completion of the sale, the insider now owns 17,037 shares in the company, valued at approximately $1,805,922. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Becker Caryn Seidman sold 25,000 shares of the stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $106.80, for a total transaction of $2,670,000.00. Following the completion of the transaction, the director now directly owns 25,000 shares in the company, valued at $2,670,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,000 shares of company stock valued at $3,747,120.

A hedge fund recently bought a new stake in Lemonade stock. Thrive Capital Management LLC acquired a new stake in Lemonade, Inc. (NYSE:LMND) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,101,618 shares of the company’s stock, valued at approximately $54,772,000. Lemonade accounts for 58.3% of Thrive Capital Management LLC’s investment portfolio, making the stock its 3rd largest holding. Thrive Capital Management LLC owned approximately 1.95% of Lemonade as of its most recent SEC filing. Institutional investors and hedge funds own 48.42% of the company’s stock.

A number of analysts have weighed in on LMND shares. Morgan Stanley boosted their target price on shares of Lemonade from $70.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 12th. Piper Sandler cut their target price on Lemonade from $159.00 to $134.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 30th. Zacks Investment Research raised Lemonade from a “sell” rating to a “hold” rating in a research report on Tuesday. Oppenheimer raised Lemonade from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Monday, March 15th. Finally, Bank of America initiated coverage on Lemonade in a research note on Monday, March 15th. They issued an “underperform” rating and a $29.00 target price on the stock. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $90.29.

About Lemonade

Lemonade, Inc provides various insurance products in the United States and Europe. Its insurance products cover 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. The company also offers renters, homeowners, pet, and life insurance products, as well as landlord insurance policies.

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