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

Shares of Lemonade, Inc. (NYSE:LMND) have been given an average recommendation of “Hold” by the nine ratings firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $64.25.

A number of brokerages have recently issued reports on LMND. Morgan Stanley set a $80.00 price target on shares of Lemonade in a report on Friday. Wolfe Research set a $44.00 price target on shares of Lemonade in a report on Tuesday, February 24th. Piper Sandler lowered their price target on shares of Lemonade from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a report on Tuesday, April 21st. Finally, Citizens Jmp lowered their price target on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th.

Lemonade Trading Up 0.0%

Shares of Lemonade stock opened at $55.02 on Thursday. Lemonade has a 12-month low of $28.71 and a 12-month high of $99.90. The company has a market cap of $4.23 billion, a price-to-earnings ratio of -29.42 and a beta of 1.85. The company’s 50-day moving average price is $60.23 and its 200-day moving average price is $68.75.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, April 29th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.11. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The firm had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. During the same period in the prior year, the firm posted ($0.86) earnings per share. The company’s revenue for the quarter was up 70.6% on a year-over-year basis. On average, sell-side analysts predict that Lemonade will post -1.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John Sheldon Peters sold 3,571 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $52.50, for a total value of $187,477.50. Following the sale, the insider directly owned 76,729 shares of the company’s stock, valued at $4,028,272.50. This trade represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 5,567 shares of company stock valued at $287,517 over the last quarter. Company insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Lemonade by 186.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,484,175 shares of the company’s stock worth $105,644,000 after acquiring an additional 965,321 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Lemonade by 30.8% in the third quarter. JPMorgan Chase & Co. now owns 3,506,171 shares of the company’s stock worth $187,685,000 after buying an additional 825,522 shares during the period. BIT Capital GmbH increased its stake in shares of Lemonade by 69.3% in the third quarter. BIT Capital GmbH now owns 1,254,345 shares of the company’s stock worth $67,145,000 after buying an additional 513,424 shares during the period. Man Group plc purchased a new position in shares of Lemonade in the fourth quarter worth $25,978,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Lemonade by 50.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 866,476 shares of the company’s stock valued at $61,676,000 after acquiring an additional 291,122 shares in the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

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.