Lemonade, Inc. (NYSE:LMND) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts have a consensus “Hold” rating on Lemonade, with one sell, four hold, and four buy ratings. The average 12-month price target is $64.50, though recent targets ranged from $48 to $75.
• Lemonade reported quarterly revenue of $294.4 million, up 79.4% year over year, while adjusted earnings matched expectations at a loss of $0.56 per share. Analysts expect a full-year loss of $1.85 per share.
• LMND opened at $50.59, near its one-year low of $46.16 and below its 50-day and 200-day moving averages near $58.50. Insiders sold about $1.08 million of stock over the past 90 days, while institutional investors own 80.3% of shares.

Shares of Lemonade, Inc. (NYSE:LMND - Get Free Report) have been assigned an average rating of "Hold" from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $64.50.

Several equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lemonade in a research note on Friday, July 17th. UBS Group set a $75.00 target price on shares of Lemonade in a report on Thursday, May 21st. Piper Sandler decreased their target price on shares of Lemonade from $75.00 to $51.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Lemonade in a research report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods upgraded shares of Lemonade from an "underperform" rating to a "market perform" rating and set a $48.00 price target on the stock in a research note on Thursday, July 30th.

Lemonade Price Performance

LMND opened at $50.59 on Wednesday. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of -27.64 and a beta of 1.87. The business's 50-day moving average price is $58.53 and its two-hundred day moving average price is $58.49. Lemonade has a 1 year low of $46.16 and a 1 year high of $99.90.

Lemonade (NYSE:LMND - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.56) earnings per share 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 company had revenue of $294.40 million during the quarter, compared to analysts' expectations of $291.01 million. During the same period in the prior year, the firm earned ($0.60) earnings per share. Lemonade's revenue for the quarter was up 79.4% compared to the same quarter last year. Sell-side analysts anticipate that Lemonade will post -1.85 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Maya Prosor sold 1,040 shares of the firm's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $54.63, for a total value of $56,815.20. Following the completion of the transaction, the insider owned 186,533 shares in the company, valued at $10,190,297.79. This trade represents a 0.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Peters sold 11,000 shares of Lemonade stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $52.55, for a total value of $578,050.00. Following the completion of the sale, the insider directly owned 76,942 shares in the company, valued at approximately $4,043,302.10. This represents a 12.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 18,592 shares of company stock valued at $1,076,326 in the last 90 days. 12.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC grew its stake in shares of Lemonade by 107.3% in the first quarter. AQR Capital Management LLC now owns 30,490 shares of the company's stock valued at $958,000 after buying an additional 15,779 shares in the last quarter. Millennium Management LLC raised its stake in Lemonade by 255.2% in the first quarter. Millennium Management LLC now owns 329,934 shares of the company's stock valued at $10,370,000 after buying an additional 237,044 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of Lemonade in the first quarter valued at approximately $35,000. Goldman Sachs Group Inc. lifted its position in shares of Lemonade by 7.3% in the first quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company's stock valued at $19,244,000 after buying an additional 41,759 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of Lemonade in the second quarter valued at approximately $307,000. Institutional investors and hedge funds own 80.30% of the company's stock.

Lemonade Company Profile

Lemonade, Inc NYSE: LMND is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company's product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.

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