Lemonade (NYSE:LMND) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Lemonade (NYSE:LMND) from a sell rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

LMND has been the subject of several other reports. Keefe, Bruyette & Woods upgraded Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price target for the company in a report on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a research note on Friday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Morgan Stanley lowered their target price on Lemonade from $65.00 to $56.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 19th. Finally, Piper Sandler lowered their target price on Lemonade from $75.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Lemonade presently has a consensus rating of “Hold” and an average target price of $64.50.

Lemonade Stock Down 3.1%

Shares of LMND stock opened at $47.07 on Friday. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of -25.72 and a beta of 1.87. Lemonade has a fifty-two week low of $46.16 and a fifty-two week high of $99.90. The firm’s 50 day moving average price is $54.77 and its two-hundred day moving average price is $58.17.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($0.56) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.56). Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The company had revenue of $294.40 million during the quarter, compared to analyst estimates of $291.01 million. During the same quarter in the prior year, the business earned ($0.60) earnings per share. The business’s quarterly revenue was up 79.4% compared to the same quarter last year. On average, equities analysts forecast that Lemonade will post -1.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Maya Prosor sold 1,040 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $54.63, for a total transaction of $56,815.20. Following the completion of the sale, the insider directly owned 186,533 shares in the company, valued at $10,190,297.79. This trade represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Peters sold 11,000 shares of Lemonade stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $52.55, for a total value of $578,050.00. Following the sale, the insider directly owned 76,942 shares in the company, valued at approximately $4,043,302.10. The trade was a 12.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 18,592 shares of company stock worth $1,076,326 in the last quarter. 12.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Lemonade during the 2nd quarter worth approximately $393,408,000. Bank of New York Mellon Corp purchased a new position in shares of Lemonade during the 2nd quarter valued at approximately $13,861,000. Canada Pension Plan Investment Board purchased a new position in shares of Lemonade during the 2nd quarter valued at approximately $13,550,000. Bank of America Corp DE purchased a new position in shares of Lemonade during the 2nd quarter valued at approximately $11,569,000. Finally, Man Group plc acquired a new stake in shares of Lemonade during the second quarter worth approximately $8,864,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Company Profile

Lemonade, Inc is a technology-driven insurance company that offers digital insurance products through its website and mobile applications. Its platform uses automation, artificial intelligence and behavioral economics to streamline policy applications, claims processing and customer service.

The company provides renters, homeowners, pet, term life and automobile insurance. Product availability varies by location, and Lemonade distributes its offerings through regulated insurance entities and licensed partners.