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

Key Points

• Analysts maintain a “Hold” consensus on Lemonade, with two sell, four hold and four buy ratings. The average 12-month price target is $64.11, though recent targets ranged from $48 to $75.
• Lemonade reported a quarterly loss of $0.56 per share, in line with estimates, while revenue rose 79.4% year over year to $294.4 million, exceeding expectations.
• The stock opened at $52.77, well below its 50-day and 200-day moving averages, while institutional investors own 80.3% of shares; insiders sold roughly $620,000 worth of stock during the past quarter.

Shares of Lemonade, Inc. (NYSE:LMND - Get Free Report) have been given a consensus recommendation of "Hold" by the ten analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $64.1111.

LMND has been the subject of a number of recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Lemonade in a research note on Friday, July 17th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $75.00 target price on shares of Lemonade in a research report on Wednesday, July 8th. Keefe, Bruyette & Woods upgraded Lemonade from an "underperform" rating to a "market perform" rating and set a $48.00 target price for the company in a research note on Thursday, July 30th. Cantor Fitzgerald reissued an "overweight" rating on shares of Lemonade in a research report on Tuesday, May 26th. Finally, Piper Sandler dropped their price target on shares of Lemonade from $75.00 to $51.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th.

Lemonade Price Performance

NYSE:LMND opened at $52.77 on Friday. The firm has a 50-day moving average of $60.43 and a two-hundred day moving average of $61.34. The stock has a market cap of $4.08 billion, a P/E ratio of -28.84 and a beta of 1.84. Lemonade has a 1-year low of $46.16 and a 1-year high of $99.90.

Lemonade (NYSE:LMND - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.56). Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.The business had revenue of $294.40 million for the quarter, compared to analyst estimates of $291.01 million. During the same period in the previous year, the company earned ($0.60) earnings per share. The company's revenue for the quarter was up 79.4% compared to the same quarter last year. As a group, equities analysts expect that Lemonade will post -1.83 earnings per share for the current year.

Insiders Place Their Bets

In other Lemonade news, insider John Sheldon Peters sold 3,608 shares of the firm's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $52.94, for a total transaction of $191,007.52. Following the completion of the transaction, the insider directly owned 81,386 shares of the company's stock, valued at $4,308,574.84. This trade represents a 4.25% 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 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 1,220 shares of the business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total transaction of $64,867.40. Following the completion of the sale, the insider directly owned 187,573 shares of the company's stock, valued at $9,973,256.41. The trade was a 0.65% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 10,007 shares of company stock worth $620,201 over the last quarter. 12.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Jupiter Topco LLC acquired a new stake in shares of Lemonade during the 2nd quarter valued at approximately $1,892,000. Hsbc Holdings PLC acquired a new position in Lemonade in the second quarter worth $775,000. EFG International AG acquired a new position in Lemonade in the second quarter worth $4,540,000. PDT Partners LLC bought a new stake in Lemonade during the second quarter valued at $4,660,000. Finally, Canada Pension Plan Investment Board bought a new stake in Lemonade during the second quarter valued at $13,550,000. 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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