Lemonade, Inc. (NYSE:LMND) Receives Consensus Recommendation of “Reduce” from Brokerages

Lemonade, Inc. (NYSE:LMND) has received an average recommendation of “Reduce” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $17.88.

LMND has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Lemonade from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Monday, March 4th. Piper Sandler raised their price target on shares of Lemonade from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley raised their price target on shares of Lemonade from $13.00 to $14.00 and gave the company an “underweight” rating in a research report on Wednesday, February 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a research report on Monday, April 15th. Finally, TD Cowen initiated coverage on shares of Lemonade in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $17.00 price target on the stock.

Lemonade Price Performance

LMND stock opened at $17.38 on Monday. The stock has a market capitalization of $1.23 billion, a PE ratio of -5.55 and a beta of 1.82. The company’s 50-day moving average is $16.84 and its 200-day moving average is $16.47. Lemonade has a 1 year low of $10.27 and a 1 year high of $24.81.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.14. The company had revenue of $119.10 million for the quarter, compared to analysts’ expectations of $114.13 million. Lemonade had a negative net margin of 48.14% and a negative return on equity of 30.30%. The business’s revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.95) EPS. On average, analysts anticipate that Lemonade will post -2.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Lemonade

In other news, CFO Timothy E. Bixby acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of $16.54 per share, for a total transaction of $165,400.00. Following the purchase, the chief financial officer now owns 10,000 shares in the company, valued at approximately $165,400. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Several large investors have recently modified their holdings of LMND. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Lemonade during the 4th quarter worth approximately $30,000. Asset Management One Co. Ltd. increased its stake in shares of Lemonade by 48.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 4,343 shares of the company’s stock worth $50,000 after purchasing an additional 1,409 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Lemonade by 236.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,246 shares of the company’s stock worth $85,000 after buying an additional 3,687 shares during the period. Quantbot Technologies LP bought a new position in Lemonade in the 3rd quarter worth approximately $108,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Lemonade in the 3rd quarter worth approximately $117,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.