Lemonade (NYSE:LMND) Price Target Lowered to $22.00 at Keefe, Bruyette & Woods

Lemonade (NYSE:LMND - Get Free Report) had its price target cut by analysts at Keefe, Bruyette & Woods from $25.00 to $22.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "underperform" rating on the stock. Keefe, Bruyette & Woods' target price points to a potential downside of 25.52% from the stock's previous close.

A number of other brokerages also recently commented on LMND. Piper Sandler cut their price objective on Lemonade from $44.00 to $34.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Morgan Stanley lowered Lemonade from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $35.00 to $24.00 in a research report on Tuesday, April 8th. Four research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Lemonade currently has a consensus rating of "Hold" and an average target price of $28.17.

Lemonade Price Performance

Shares of Lemonade stock traded up $0.16 during trading on Tuesday, hitting $29.54. The stock had a trading volume of 1,098,432 shares, compared to its average volume of 1,925,695. The business has a fifty day moving average of $31.83 and a two-hundred day moving average of $33.41. Lemonade has a fifty-two week low of $14.03 and a fifty-two week high of $53.85. The firm has a market cap of $2.15 billion, a P/E ratio of -9.72 and a beta of 2.13.

Lemonade (NYSE:LMND - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, beating analysts' consensus estimates of ($0.61) by $0.19. The company had revenue of $148.80 million during the quarter, compared to the consensus estimate of $144.78 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. As a group, research analysts forecast that Lemonade will post -3.03 earnings per share for the current year.

Insider Activity

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 204,575 shares of Lemonade stock in a transaction on Monday, March 24th. The shares were sold at an average price of $37.08, for a total transaction of $7,585,641.00. Following the completion of the sale, the insider now owns 10,494,636 shares of the company's stock, valued at $389,141,102.88. This trade represents a 1.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Sheldon Peters sold 1,899 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total transaction of $64,167.21. Following the transaction, the insider now owns 87,609 shares in the company, valued at approximately $2,960,308.11. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 248,634 shares of company stock worth $9,219,003. 12.50% of the stock is owned by corporate insiders.

Institutional Trading of Lemonade

Institutional investors have recently bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new stake in shares of Lemonade during the 4th quarter worth about $2,712,000. Barclays PLC raised its position in Lemonade by 292.5% during the third quarter. Barclays PLC now owns 87,414 shares of the company's stock valued at $1,443,000 after acquiring an additional 65,144 shares in the last quarter. Mandatum Life Insurance Co Ltd bought a new position in Lemonade during the fourth quarter valued at approximately $378,000. Watershed Private Wealth LLC acquired a new stake in Lemonade in the fourth quarter valued at approximately $286,000. Finally, Woodward Diversified Capital LLC bought a new stake in Lemonade in the fourth quarter worth approximately $381,000. Institutional investors and hedge funds own 80.30% of the company's stock.

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.