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BMO Capital Markets Boosts Lemonade (NYSE:LMND) Price Target to $23.00

Lemonade logo with Finance background

Lemonade (NYSE:LMND - Get Free Report) had its price target upped by analysts at BMO Capital Markets from $15.00 to $23.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "underperform" rating on the stock. BMO Capital Markets' price objective would suggest a potential downside of 45.74% from the company's previous close.

LMND has been the subject of a number of other research reports. Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $26.00 target price (up previously from $22.00) on shares of Lemonade in a research note on Tuesday. Morgan Stanley lowered shares of Lemonade from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $35.00 to $24.00 in a report on Tuesday, April 8th. Four equities 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $30.17.

Get Our Latest Stock Analysis on Lemonade

Lemonade Trading Up 0.9%

Shares of Lemonade stock traded up $0.39 on Wednesday, hitting $42.39. 1,199,510 shares of the company traded hands, compared to its average volume of 2,102,112. Lemonade has a 12-month low of $14.90 and a 12-month high of $53.85. The company has a market cap of $3.11 billion, a P/E ratio of -13.94 and a beta of 2.20. The firm's 50-day simple moving average is $35.55 and its 200 day simple moving average is $34.46.

Lemonade (NYSE:LMND - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.02). Lemonade had a negative net margin of 38.90% and a negative return on equity of 36.72%. The firm's revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.67) EPS. Analysts predict that Lemonade will post -3.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Softbank Group Capital Ltd sold 500,000 shares of Lemonade stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $32.25, for a total transaction of $16,125,000.00. Following the sale, the insider directly owned 7,498,723 shares in the company, valued at $241,833,816.75. The trade was a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Sheldon Peters sold 6,543 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $45.00, for a total value of $294,435.00. Following the completion of the transaction, the insider owned 106,115 shares of the company's stock, valued at approximately $4,775,175. This trade represents a 5.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,509,545 shares of company stock worth $78,775,964. 14.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lemonade

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers grew its position in shares of Lemonade by 2.6% during the 1st quarter. Rhumbline Advisers now owns 77,706 shares of the company's stock valued at $2,442,000 after acquiring an additional 2,001 shares during the period. Caxton Associates LLP bought a new position in Lemonade during the first quarter valued at $1,455,000. Goldman Sachs Group Inc. raised its position in Lemonade by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company's stock worth $19,244,000 after purchasing an additional 41,759 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Lemonade during the first quarter worth $638,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Lemonade during the first quarter valued at $35,000. Institutional investors own 80.30% of the company's stock.

About Lemonade

(Get Free Report)

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.

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