Brokers Issue Forecasts for Lemonade, Inc.’s Q2 2024 Earnings (NYSE:LMND)

Lemonade, Inc. (NYSE:LMND) – Equities research analysts at William Blair boosted their Q2 2024 earnings per share (EPS) estimates for Lemonade in a research report issued to clients and investors on Wednesday, May 1st. William Blair analyst A. Klauber now forecasts that the company will post earnings per share of ($0.88) for the quarter, up from their previous forecast of ($0.89). The consensus estimate for Lemonade’s current full-year earnings is ($2.96) per share. William Blair also issued estimates for Lemonade’s Q4 2024 earnings at ($0.65) EPS, FY2024 earnings at ($3.06) EPS and FY2025 earnings at ($2.64) EPS.

A number of other brokerages have also recently issued reports on LMND. Piper Sandler raised their target price on shares of Lemonade from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. JMP Securities reissued a “market outperform” rating and issued a $40.00 target price on shares of Lemonade in a report on Monday, April 15th. Morgan Stanley lifted their price target on Lemonade from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Wednesday, February 28th. Keefe, Bruyette & Woods lifted their price target on Lemonade from $16.00 to $18.00 and gave the company a “market perform” rating in a report on Monday, March 4th. Finally, TD Cowen assumed coverage on Lemonade in a report on Wednesday, January 10th. They set a “market perform” rating and a $17.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.63.

Lemonade Stock Down 2.5 %

Shares of NYSE LMND opened at $17.49 on Monday. The firm’s 50-day moving average price is $16.80 and its two-hundred day moving average price is $16.51. Lemonade has a 52-week low of $10.27 and a 52-week high of $24.81. The stock has a market capitalization of $1.23 billion, a P/E ratio of -5.59 and a beta of 1.82.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.14. Lemonade had a negative net margin of 48.14% and a negative return on equity of 30.30%. The business had revenue of $119.10 million for the quarter, compared to analysts’ expectations of $114.13 million. During the same quarter last year, the company posted ($0.95) earnings per share. The company’s quarterly revenue was up 25.1% compared to the same quarter last year.

Insider Activity at Lemonade

In related news, CFO Timothy E. Bixby acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $16.54 per share, for a total transaction of $165,400.00. Following the completion of the purchase, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $165,400. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LMND. Algert Global LLC grew its position in Lemonade by 57.0% in the third quarter. Algert Global LLC now owns 96,058 shares of the company’s stock worth $1,116,000 after buying an additional 34,860 shares during the last quarter. Swiss National Bank grew its position in Lemonade by 1.2% in the third quarter. Swiss National Bank now owns 114,500 shares of the company’s stock worth $1,330,000 after buying an additional 1,400 shares during the last quarter. Seven Eight Capital LP acquired a new position in Lemonade in the third quarter worth approximately $704,000. SG Americas Securities LLC grew its position in Lemonade by 32.2% in the fourth quarter. SG Americas Securities LLC now owns 42,634 shares of the company’s stock worth $688,000 after buying an additional 10,376 shares during the last quarter. Finally, Cypress Capital Management LLC WY acquired a new position in Lemonade in the fourth quarter worth approximately $946,000. Institutional investors and hedge funds 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.