Lemonade (NYSE:LMND) Receives Neutral Rating from Piper Sandler

Key Points

• Piper Sandler has reissued a "neutral" rating for Lemonade (NYSE:LMND) with a target price of $55.00, indicating a potential downside of 6.27% from the stock's previous close.
• The average target price among analysts for Lemonade is $37.71, with a consensus rating of "Hold," and mixed assessments ranging from "sell" to "strong buy."
• Lemonade reported revenue of $164.10 million for the last quarter, exceeding estimates, but continues to show a negative net margin of 33.96% and a negative return on equity of 36.12%.

Lemonade (NYSE:LMND - Get Free Report)'s stock had its "neutral" rating reissued by equities researchers at Piper Sandler in a note issued to investors on Thursday, Marketbeat reports. They currently have a $55.00 price objective on the stock. Piper Sandler's price objective would indicate a potential downside of 7.86% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets lifted their target price on Lemonade from $15.00 to $23.00 and gave the stock an "underperform" rating in a report on Wednesday, July 2nd. Morgan Stanley reaffirmed an "underweight" rating and issued a $26.00 target price (up from $24.00) on shares of Lemonade in a report on Monday, July 14th. Cantor Fitzgerald upgraded Lemonade to a "strong-buy" rating in a research report on Wednesday, August 13th. Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $26.00 price target (up previously from $22.00) on shares of Lemonade in a research report on Tuesday, July 1st. Finally, Wall Street Zen upgraded Lemonade from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $40.43.

Lemonade Price Performance

Lemonade stock traded up $2.32 during trading on Thursday, reaching $59.69. The company had a trading volume of 2,791,060 shares, compared to its average volume of 3,362,349. Lemonade has a 52 week low of $15.27 and a 52 week high of $60.41. The firm's 50-day simple moving average is $43.10 and its 200 day simple moving average is $36.12.

Lemonade (NYSE:LMND - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.60) EPS for the quarter, beating analysts' consensus estimates of ($0.81) by $0.21. The business had revenue of $164.10 million for the quarter, compared to analysts' expectations of $160.88 million. Lemonade had a negative return on equity of 36.12% and a negative net margin of 33.96%. The business's quarterly revenue was up 34.5% on a year-over-year basis. During the same period last year, the firm earned ($0.81) earnings per share. Sell-side analysts anticipate that Lemonade will post -3.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider John Sheldon Peters sold 6,543 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $45.00, for a total transaction of $294,435.00. Following the sale, the insider directly owned 106,115 shares of the company's stock, valued at $4,775,175. The trade was a 5.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Adina Eckstein sold 5,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $49.00, for a total value of $245,000.00. Following the completion of the transaction, the chief operating officer directly owned 189,653 shares of the company's stock, valued at approximately $9,292,997. This trade represents a 2.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,289 shares of company stock worth $825,982 over the last three months. Corporate insiders own 12.50% of the company's stock.

Institutional Investors Weigh In On Lemonade

Hedge funds have recently modified their holdings of the company. FORA Capital LLC acquired a new position in shares of Lemonade during the 2nd quarter worth about $816,000. Headlands Technologies LLC acquired a new position in shares of Lemonade during the 2nd quarter worth about $155,000. Tower Research Capital LLC TRC raised its position in shares of Lemonade by 1,259.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 23,607 shares of the company's stock worth $1,034,000 after purchasing an additional 21,871 shares during the last quarter. Corient Private Wealth LLC acquired a new position in shares of Lemonade during the 2nd quarter worth about $315,000. Finally, Tidal Investments LLC raised its position in shares of Lemonade by 13.7% during the 2nd quarter. Tidal Investments LLC now owns 41,325 shares of the company's stock worth $1,810,000 after purchasing an additional 4,994 shares during the last quarter. 80.30% of the stock is 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.