Lemonade, Inc. (NYSE:LMND) Receives $68.75 Consensus Price Target from Analysts

Lemonade, Inc. (NYSE:LMND) has received a consensus rating of “Hold” from the nine analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $68.75.

LMND has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods upped their price objective on Lemonade from $40.00 to $44.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 24th. Piper Sandler set a $65.00 price objective on Lemonade in a research note on Thursday, February 19th. Truist Financial started coverage on Lemonade in a report on Tuesday, January 6th. They issued a “buy” rating and a $98.00 target price for the company. Finally, Morgan Stanley raised Lemonade from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $80.00 to $85.00 in a research note on Tuesday, March 17th.

Insider Activity

In related news, CEO Daniel A. Schreiber sold 126,625 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $94.74, for a total transaction of $11,996,452.50. Following the sale, the chief executive officer directly owned 1,523,534 shares in the company, valued at approximately $144,339,611.16. This represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Sheldon Peters sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $80.00, for a total transaction of $800,000.00. Following the completion of the sale, the insider directly owned 60,771 shares in the company, valued at approximately $4,861,680. This trade represents a 14.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 160,300 shares of company stock valued at $14,796,026 in the last quarter. Company insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its holdings in Lemonade by 8,080.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock valued at $29,000 after purchasing an additional 404 shares in the last quarter. Bayforest Capital Ltd purchased a new position in Lemonade in the third quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Lemonade during the fourth quarter worth approximately $33,000. Torren Management LLC acquired a new stake in Lemonade during the fourth quarter worth approximately $35,000. Finally, Strive Financial Group LLC purchased a new stake in shares of Lemonade during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Lemonade Stock Down 2.1%

LMND opened at $65.46 on Wednesday. Lemonade has a 52 week low of $24.31 and a 52 week high of $99.90. The business has a fifty day simple moving average of $68.10 and a 200-day simple moving average of $66.92. The firm has a market cap of $5.00 billion, a P/E ratio of -28.97 and a beta of 2.12.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Wednesday, February 18th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.12. Lemonade had a negative return on equity of 31.19% and a negative net margin of 22.43%.Lemonade’s revenue for the quarter was up 53.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.42) EPS. Sell-side analysts expect that Lemonade will post -3.03 earnings per share for the current year.

Lemonade Company Profile

Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.