Lemonade, Inc. (NYSE:LMND) Stock Has Average Price Target of $64.50

Key Points

• Analysts rate Lemonade “Hold” overall: Four analysts recommend buying, four suggest holding, and one recommends selling. The average 12-month price target is $64.50, versus a recent share price of $46.40.
• Lemonade reported quarterly revenue of $294.4 million, up 79.4% year over year and above analyst expectations, while posting an adjusted loss of $0.56 per share. Analysts expect a full-year loss of $1.85 per share.
• Institutional investors own 80.3% of Lemonade, while insiders own 12.2%; insiders sold 18,592 shares worth about $1.08 million over the past 90 days, largely to cover tax obligations from vested equity awards.

Lemonade, Inc. (NYSE:LMND - Get Free Report) has been assigned a consensus recommendation of "Hold" from the nine analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $64.50.

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Lemonade from a "sell" rating to a "hold" rating in a research note on Saturday, September 19th. TD Cowen reissued a "hold" rating on shares of Lemonade in a report on Monday, June 8th. Keefe, Bruyette & Woods upgraded Lemonade from an "underperform" rating to a "market perform" rating and set a $48.00 price objective for the company in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lemonade in a research note on Friday, July 17th. Finally, Piper Sandler decreased their target price on Lemonade from $75.00 to $51.00 and set a "neutral" rating on the stock in a research report on Thursday, July 30th.

Insider Activity at Lemonade

In other news, insider John Peters sold 2,249 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $54.45, for a total value of $122,458.05. Following the completion of the transaction, the insider directly owned 73,834 shares in the company, valued at approximately $4,020,261.30. This represents a 2.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock in a transaction on 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 transaction, the insider owned 186,533 shares of the company's stock, valued at $10,190,297.79. The trade was a 0.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 18,592 shares of company stock worth $1,076,326 over the last ninety days. 12.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lemonade

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

Lemonade Stock Performance

Shares of NYSE LMND opened at $46.40 on Friday. The stock has a market capitalization of $3.59 billion, a P/E ratio of -25.35 and a beta of 1.87. The stock's fifty day moving average is $50.74 and its 200 day moving average is $57.57. Lemonade has a 52 week low of $43.28 and a 52 week 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 net margin of 14.19% and a negative return on equity of 26.78%. The business had revenue of $294.40 million during the quarter, compared to analysts' expectations of $291.01 million. During the same quarter in the prior year, the business posted ($0.60) earnings per share. Lemonade's revenue was up 79.4% compared to the same quarter last year. Equities research analysts forecast that Lemonade will post -1.85 earnings per share for the current year.

About Lemonade

Lemonade, Inc is a technology-driven insurance company that offers insurance products through mobile applications and online platforms. Its business uses artificial intelligence, automation and behavioral economics to simplify policy purchases, claims processing and customer service.

The company provides renters, homeowners, car, pet and term life insurance, with product availability varying by location. Lemonade's digital platform is designed to allow customers to obtain quotes, manage policies and submit claims without relying primarily on traditional insurance agents.

Founded in 2015 by Daniel Schreiber and Shai Wininger, Lemonade initially focused on renters insurance before expanding into additional insurance categories.

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