Cantor Fitzgerald Upgrades Lemonade (NYSE:LMND) to "Strong-Buy"

Key Points

• Cantor Fitzgerald has upgraded Lemonade (NYSE:LMND) to a "strong-buy" rating, signaling increased confidence in the company's future performance.
• BMO Capital Markets revised its price target for Lemonade, increasing it from $15.00 to $23.00, while still maintaining an "underperform" rating.
• Lemonade reported a 34.5% year-over-year increase in quarterly revenue, achieving $164.10 million, despite posting a loss per share of ($0.60).

Lemonade (NYSE:LMND - Get Free Report) was upgraded by analysts at Cantor Fitzgerald to a "strong-buy" rating in a report issued on Wednesday,Zacks.com reports.

LMND has been the subject of several other reports. BMO Capital Markets upped their price target on shares of Lemonade from $15.00 to $23.00 and gave the stock an "underperform" rating in a report on Wednesday, July 2nd. Wall Street Zen upgraded shares of Lemonade from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $26.00 price target (up from $22.00) on shares of Lemonade in a report on Tuesday, July 1st. Finally, Morgan Stanley reiterated an "underweight" rating and set a $26.00 price target (up from $24.00) on shares of Lemonade in a report on Monday, July 14th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lemonade presently has an average rating of "Hold" and a consensus target price of $34.71.

Lemonade Price Performance

NYSE LMND opened at $59.97 on Wednesday. The business has a fifty day moving average price of $42.30 and a two-hundred day moving average price of $35.73. Lemonade has a fifty-two week low of $15.27 and a fifty-two week high of $60.41. The stock has a market capitalization of $4.43 billion, a PE ratio of -21.19 and a beta of 2.19.

Lemonade (NYSE:LMND - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.21. The firm had revenue of $164.10 million during the quarter, compared to analysts' expectations of $160.88 million. Lemonade had a negative return on equity of 36.12% and a negative net margin of 33.96%. The company's quarterly revenue was up 34.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.81) earnings per share. As a group, sell-side analysts expect that Lemonade will post -3.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John Sheldon Peters sold 6,543 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $45.00, for a total value of $294,435.00. Following the completion of the sale, the insider directly owned 106,115 shares in the company, valued at $4,775,175. This represents a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Adina Eckstein sold 5,000 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $49.00, for a total value of $245,000.00. Following the completion of the sale, the chief operating officer owned 189,653 shares of the company's stock, valued at $9,292,997. The trade was a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,289 shares of company stock valued at $825,982 over the last 90 days. 14.70% of the stock is currently owned by company insiders.

Institutional Trading of Lemonade

A number of large investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. grew its holdings in Lemonade by 4.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,683 shares of the company's stock worth $249,000 after acquiring an additional 220 shares during the period. Nisa Investment Advisors LLC grew its holdings in Lemonade by 3.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 11,020 shares of the company's stock worth $346,000 after acquiring an additional 380 shares during the period. Summit Investment Advisors Inc. grew its holdings in Lemonade by 8.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,463 shares of the company's stock worth $200,000 after acquiring an additional 423 shares during the period. Teacher Retirement System of Texas grew its holdings in Lemonade by 5.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,285 shares of the company's stock worth $363,000 after acquiring an additional 458 shares during the period. Finally, US Bancorp DE boosted its position in shares of Lemonade by 28.3% during the 1st quarter. US Bancorp DE now owns 2,406 shares of the company's stock worth $76,000 after purchasing an additional 531 shares in the last quarter. 80.30% of the stock is currently 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.

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