Lemonade, Inc. (NYSE:LMND) Receives Average Rating of "Hold" from Analysts

Key Points

• Lemonade has a consensus analyst rating of "Hold" from 10 covering analysts, with three sells, two holds, and five buys. The average 12-month price target is about $64.89.
• The stock was down 2.1% and opened at $55.96, below both its 50-day average of $58.22 and 200-day average of $65.80. Its market cap is about $4.3 billion.
• In its latest quarterly report, Lemonade beat earnings and revenue expectations with EPS of -$0.47 versus -$0.58 expected and revenue of $258 million versus $251.5 million expected. Revenue rose 70.6% year over year, though the company remains unprofitable.

Shares of Lemonade, Inc. (NYSE:LMND - Get Free Report) have earned a consensus recommendation of "Hold" from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $64.8889.

A number of analysts have recently commented on the stock. TD Cowen reissued a "hold" rating on shares of Lemonade in a research report on Monday, June 8th. Morgan Stanley cut their price objective on shares of Lemonade from $80.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, May 21st. Citizens Jmp cut their price objective on shares of Lemonade from $85.00 to $80.00 and set a "market outperform" rating on the stock in a research report on Thursday, April 30th. Piper Sandler cut their price target on shares of Lemonade from $65.00 to $62.00 and set a "neutral" rating for the company in a research note on Thursday, April 30th. Finally, UBS Group set a $75.00 price target on shares of Lemonade in a research note on Thursday, May 21st.

Lemonade Stock Down 2.1%

Shares of LMND stock opened at $55.96 on Friday. The company's fifty day simple moving average is $58.22 and its 200-day simple moving average is $65.80. The firm has a market cap of $4.30 billion, a PE ratio of -29.93 and a beta of 1.83. Lemonade has a 12 month low of $35.70 and a 12 month high of $99.90.

Lemonade (NYSE:LMND - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.47) EPS for the quarter, topping analysts' consensus estimates of ($0.58) by $0.11. The business had revenue of $258.00 million for the quarter, compared to analyst estimates of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The firm's revenue for the quarter was up 70.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.86) earnings per share. On average, equities analysts predict that Lemonade will post -1.71 earnings per share for the current fiscal year.

Insider Transactions at Lemonade

In related news, insider Maya Prosor sold 1,220 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of the sale, the insider directly owned 187,573 shares in the company, valued at approximately $9,973,256.41. This trade represents a 0.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,608 shares of Lemonade stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $52.94, for a total value of $191,007.52. Following the transaction, the insider owned 81,386 shares of the company's stock, valued at $4,308,574.84. The trade was a 4.25% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders sold 6,563 shares of company stock worth $348,125. 14.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. increased its holdings in shares of Lemonade by 3.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,671 shares of the company's stock worth $261,000 after acquiring an additional 121 shares during the last quarter. Watershed Private Wealth LLC raised its position in shares of Lemonade by 1.7% in the fourth quarter. Watershed Private Wealth LLC now owns 8,310 shares of the company's stock valued at $592,000 after purchasing an additional 140 shares during the period. AQR Capital Management LLC raised its position in shares of Lemonade by 0.7% in the fourth quarter. AQR Capital Management LLC now owns 21,569 shares of the company's stock valued at $1,535,000 after purchasing an additional 159 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Lemonade by 2.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,431 shares of the company's stock valued at $600,000 after purchasing an additional 219 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Lemonade by 7.2% in the fourth quarter. GAMMA Investing LLC now owns 3,529 shares of the company's stock valued at $251,000 after purchasing an additional 236 shares during the period. 80.30% of the stock is owned by institutional investors and hedge funds.

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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