Lemonade (NYSE:LMND) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Wall Street Zen upgraded Lemonade from “sell” to “hold,” while the broader analyst consensus remains “Hold” with an average price target of $64.50.
• Lemonade shares opened at $47.07, down 3.1%, near their 12-month low of $46.16 and well below the 12-month high of $99.90.
• The company reported quarterly revenue of $294.4 million, up 79.4% year over year, while posting a loss of $0.56 per share in line with analyst expectations; analysts project a full-year loss of $1.85 per share.

Lemonade (NYSE:LMND - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities analysts have also issued reports on the stock. Piper Sandler dropped their target price on shares of Lemonade from $75.00 to $51.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lemonade in a research report on Friday, July 17th. Keefe, Bruyette & Woods raised Lemonade from an "underperform" rating to a "market perform" rating and set a $48.00 price objective on the stock in a research note on Thursday, July 30th. Morgan Stanley cut their target price on Lemonade from $65.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 19th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Lemonade in a research note on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Lemonade currently has an average rating of "Hold" and an average target price of $64.50.

Lemonade Stock Down 3.1%

NYSE LMND opened at $47.07 on Friday. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of -25.72 and a beta of 1.87. Lemonade has a twelve month low of $46.16 and a twelve month high of $99.90. The stock has a fifty day simple moving average of $54.77 and a 200 day simple moving average of $58.17.

Lemonade (NYSE:LMND - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported ($0.56) EPS for the quarter, hitting the consensus estimate of ($0.56). Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.The firm had revenue of $294.40 million for the quarter, compared to the consensus estimate of $291.01 million. During the same period in the previous year, the business earned ($0.60) EPS. The business's quarterly revenue was up 79.4% compared to the same quarter last year. Research analysts expect that Lemonade will post -1.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider John Peters sold 2,249 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $54.45, for a total transaction of $122,458.05. Following the transaction, the insider owned 73,834 shares of the company's stock, valued at $4,020,261.30. This represents a 2.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Maya Prosor sold 1,040 shares of the firm's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $54.63, for a total value of $56,815.20. Following the completion of the sale, the insider owned 186,533 shares of the company's stock, valued at approximately $10,190,297.79. This represents a 0.55% decrease in their ownership of the stock. 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 18,592 shares of company stock valued at $1,076,326 over the last 90 days. Corporate insiders own 12.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP acquired a new position in Lemonade during the second quarter worth $1,229,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Lemonade in the 2nd quarter worth about $128,000. NewEdge Advisors LLC raised its holdings in shares of Lemonade by 9.7% in the 2nd quarter. NewEdge Advisors LLC now owns 7,041 shares of the company's stock worth $458,000 after acquiring an additional 621 shares during the last quarter. Baird Financial Group Inc. bought a new position in Lemonade in the 2nd quarter valued at about $3,529,000. Finally, Arizona State Retirement System boosted its stake in Lemonade by 3.7% during the 2nd quarter. Arizona State Retirement System now owns 17,915 shares of the company's stock valued at $1,165,000 after purchasing an additional 646 shares during the last quarter. Institutional investors own 80.30% of the company's stock.

Lemonade Company Profile

Lemonade, Inc is a technology-driven insurance company that offers digital insurance products through its website and mobile applications. Its platform uses automation, artificial intelligence and behavioral economics to streamline policy applications, claims processing and customer service.

The company provides renters, homeowners, pet, term life and automobile insurance. Product availability varies by location, and Lemonade distributes its offerings through regulated insurance entities and licensed partners.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.