Lemonade, Inc. (NYSE:LMND) Receives $28.17 Consensus Target Price from Analysts

Shares of Lemonade, Inc. (NYSE:LMND - Get Free Report) have been assigned an average recommendation of "Reduce" from the six research firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $28.17.

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods cut their target price on shares of Lemonade from $25.00 to $22.00 and set an "underperform" rating for the company in a research report on Tuesday, April 22nd. Piper Sandler dropped their price objective on shares of Lemonade from $44.00 to $34.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Finally, Morgan Stanley cut shares of Lemonade from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $35.00 to $24.00 in a research report on Tuesday, April 8th.

Lemonade Price Performance

Shares of LMND traded up $0.03 during trading hours on Thursday, hitting $30.94. The stock had a trading volume of 1,361,311 shares, compared to its average volume of 1,928,370. The firm has a market capitalization of $2.27 billion, a PE ratio of -10.18 and a beta of 2.13. Lemonade has a 12 month low of $14.03 and a 12 month high of $53.85. The stock has a fifty day moving average price of $30.20 and a 200 day moving average price of $34.85.

Lemonade (NYSE:LMND - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.02). Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. During the same period in the prior year, the company earned ($0.67) EPS. The company's revenue was up 27.0% compared to the same quarter last year. As a group, analysts anticipate that Lemonade will post -3.03 EPS for the current fiscal year.

Insider Transactions at Lemonade

In other news, 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 completion of the sale, the insider now directly owns 87,609 shares of the company's stock, valued at approximately $2,960,308.11. The trade was a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Softbank Group Capital Ltd sold 387,282 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $32.84, for a total transaction of $12,718,340.88. Following the completion of the transaction, the insider now owns 7,111,441 shares in the company, valued at $233,539,722.44. This represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,744,890 shares of company stock worth $87,413,986. 14.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Caxton Associates LLP purchased a new stake in shares of Lemonade in the 1st quarter worth $1,455,000. Goldman Sachs Group Inc. raised its holdings 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 acquiring an additional 41,759 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Lemonade in the first quarter worth about $638,000. NewEdge Advisors LLC bought a new position in Lemonade during the 1st quarter worth about $35,000. Finally, Millennium Management LLC grew its holdings in Lemonade by 255.2% during the 1st quarter. Millennium Management LLC now owns 329,934 shares of the company's stock worth $10,370,000 after acquiring an additional 237,044 shares in the last quarter. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

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.