Research Analysts Set Expectations for Lemonade, Inc.’s Q2 2024 Earnings (NYSE:LMND)

Lemonade, Inc. (NYSE:LMND) – Equities research analysts at William Blair lifted their Q2 2024 EPS estimates for shares of Lemonade in a research note issued on Wednesday, May 1st. William Blair analyst A. Klauber now anticipates that the company will earn ($0.88) per share for the quarter, up from their previous forecast of ($0.89). The consensus estimate for Lemonade’s current full-year earnings is ($2.96) per share. William Blair also issued estimates for Lemonade’s Q4 2024 earnings at ($0.65) EPS, FY2024 earnings at ($3.06) EPS and FY2025 earnings at ($2.64) EPS.

Several other brokerages have also weighed in on LMND. Morgan Stanley raised their target price on Lemonade from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 28th. Keefe, Bruyette & Woods boosted their target price on Lemonade from $16.00 to $18.00 and gave the company a “market perform” rating in a report on Monday, March 4th. Piper Sandler boosted their price objective on shares of Lemonade from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. TD Cowen initiated coverage on shares of Lemonade in a report on Wednesday, January 10th. They issued a “market perform” rating and a $17.00 target price on the stock. Finally, JMP Securities reiterated a “market outperform” rating and set a $40.00 target price on shares of Lemonade in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.88.

Lemonade Trading Up 3.2 %

Lemonade stock opened at $17.94 on Monday. The stock has a market cap of $1.26 billion, a P/E ratio of -5.73 and a beta of 1.82. The company has a fifty day simple moving average of $16.80 and a 200-day simple moving average of $16.51. Lemonade has a 12-month low of $10.27 and a 12-month high of $24.81.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.14. The company had revenue of $119.10 million for the quarter, compared to analyst estimates of $114.13 million. Lemonade had a negative return on equity of 30.30% and a negative net margin of 48.14%. Lemonade’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.95) EPS.

Insiders Place Their Bets

In other Lemonade news, CFO Timothy E. Bixby purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were purchased at an average cost of $16.54 per share, with a total value of $165,400.00. Following the purchase, the chief financial officer now owns 10,000 shares in the company, valued at $165,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. acquired a new stake in Lemonade during the 4th quarter valued at approximately $30,000. Asset Management One Co. Ltd. grew its stake in Lemonade by 48.0% in the third quarter. Asset Management One Co. Ltd. now owns 4,343 shares of the company’s stock worth $50,000 after purchasing an additional 1,409 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Lemonade by 236.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,246 shares of the company’s stock valued at $85,000 after buying an additional 3,687 shares in the last quarter. Quantbot Technologies LP bought a new position in Lemonade during the 3rd quarter worth approximately $108,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Lemonade in the 3rd quarter valued at approximately $117,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

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.