Morgan Stanley Forecasts Strong Price Appreciation for Lemonade (NYSE:LMND) Stock

Lemonade (NYSE:LMND - Free Report) had its target price upped by Morgan Stanley from $15.00 to $23.00 in a research report released on Friday,Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other analysts have also recently weighed in on LMND. Piper Sandler increased their price target on Lemonade from $18.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. JMP Securities reaffirmed a "market outperform" rating and issued a $40.00 target price on shares of Lemonade in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods cut Lemonade from a "market perform" rating to an "underperform" rating and raised their target price for the company from $18.00 to $21.00 in a research note on Thursday, November 7th. Finally, Jefferies Financial Group reduced their target price on shares of Lemonade from $15.00 to $14.00 and set an "underperform" rating for the company in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Lemonade currently has an average rating of "Hold" and an average price target of $23.33.

Lemonade Stock Up 3.4 %

Shares of LMND traded up $1.08 during mid-day trading on Friday, hitting $32.79. The stock had a trading volume of 1,833,881 shares, compared to its average volume of 1,658,315. The company's fifty day simple moving average is $20.06 and its two-hundred day simple moving average is $18.48. Lemonade has a fifty-two week low of $14.03 and a fifty-two week high of $35.17. The company has a market cap of $2.34 billion, a PE ratio of -11.45 and a beta of 1.68.

Lemonade (NYSE:LMND - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company had revenue of $136.60 million for the quarter, compared to the consensus estimate of $129.10 million. During the same period last year, the firm posted ($0.88) EPS. The company's revenue for the quarter was up 19.3% on a year-over-year basis. Equities analysts expect that Lemonade will post -3.05 earnings per share for the current year.

Insider Buying and Selling at Lemonade

In related news, Director Maria Angelidis-Smith purchased 15,042 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average price of $33.23 per share, with a total value of $499,845.66. Following the purchase, the director now owns 33,554 shares of the company's stock, valued at $1,114,999.42. This trade represents a 81.26 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Timothy E. Bixby sold 2,050 shares of Lemonade stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total transaction of $37,392.00. Following the completion of the transaction, the chief financial officer now directly owns 271,552 shares in the company, valued at approximately $4,953,108.48. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lemonade

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its stake in Lemonade by 18.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,226 shares of the company's stock valued at $283,000 after acquiring an additional 2,710 shares in the last quarter. HAP Trading LLC grew its position in Lemonade by 106.1% during the first quarter. HAP Trading LLC now owns 24,315 shares of the company's stock valued at $399,000 after purchasing an additional 12,515 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Lemonade by 9.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company's stock worth $404,000 after buying an additional 2,196 shares in the last quarter. Tidal Investments LLC purchased a new stake in Lemonade in the 1st quarter worth approximately $718,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of Lemonade during the 2nd quarter valued at $180,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

About Lemonade

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.