Lemonade, Inc. (NYSE:LMND) Receives $28.17 Consensus Price Target from Analysts

Shares of Lemonade, Inc. (NYSE:LMND) have been given an average rating of “Reduce” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, one has given a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $28.17.

A number of equities analysts recently commented on LMND shares. Piper Sandler reduced their price objective on Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley lowered Lemonade from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $35.00 to $24.00 in a report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Lemonade from $25.00 to $22.00 and set an “underperform” rating for the company in a report on Tuesday, April 22nd.

Lemonade Stock Up 0.0 %

Shares of LMND opened at $29.53 on Friday. Lemonade has a 52-week low of $14.03 and a 52-week high of $53.85. The stock has a market cap of $2.16 billion, a PE ratio of -9.71 and a beta of 2.13. The firm’s fifty day moving average is $31.57 and its two-hundred day moving average is $33.58.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.19. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $144.78 million. As a group, research analysts anticipate that Lemonade will post -3.03 earnings per share for the current year.

Insider Transactions at Lemonade

In related news, major shareholder Softbank Group Capital Ltd sold 42,160 shares of Lemonade stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $37.22, for a total value of $1,569,195.20. Following the completion of the sale, the insider now owns 10,452,476 shares in the company, valued at approximately $389,041,156.72. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Sheldon Peters sold 1,899 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total value of $64,167.21. Following the transaction, the insider now owns 87,609 shares in the company, valued at $2,960,308.11. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 248,634 shares of company stock worth $9,219,003. 12.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lemonade

A number of hedge funds and other institutional investors have recently bought and sold shares of LMND. Quarry LP lifted its position in shares of Lemonade by 300.4% during the fourth quarter. Quarry LP now owns 933 shares of the company’s stock worth $34,000 after purchasing an additional 700 shares in the last quarter. Avior Wealth Management LLC acquired a new stake in Lemonade during the 4th quarter worth approximately $40,000. Russell Investments Group Ltd. boosted its position in Lemonade by 318.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock valued at $42,000 after buying an additional 867 shares during the period. BNP Paribas acquired a new position in shares of Lemonade in the fourth quarter worth $57,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Lemonade by 116.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock worth $59,000 after acquiring an additional 860 shares during the period. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

About Lemonade

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.