Lemonade, Inc. (NYSE:LMND) Given Average Rating of “Hold” by Analysts

Lemonade, Inc. (NYSE:LMND) has received a consensus rating of “Hold” from the eight brokerages that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $63.1429.

A number of analysts have recently issued reports on the company. Citigroup reiterated a “market outperform” rating on shares of Lemonade in a research note on Monday, November 24th. Citizens Jmp increased their target price on Lemonade from $60.00 to $80.00 and gave the stock a “market outperform” rating in a report on Monday, November 24th. Keefe, Bruyette & Woods raised their target price on Lemonade from $35.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, November 25th. JMP Securities set a $80.00 price target on shares of Lemonade in a report on Monday, November 24th. Finally, Piper Sandler decreased their price target on Lemonade from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, October 10th.

Lemonade Price Performance

NYSE:LMND opened at $71.19 on Friday. Lemonade has a fifty-two week low of $24.31 and a fifty-two week high of $85.20. The business’s 50-day simple moving average is $72.96 and its 200-day simple moving average is $57.02. The stock has a market capitalization of $5.32 billion, a PE ratio of -29.79 and a beta of 1.98.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.21. The business had revenue of $194.50 million for the quarter, compared to analysts’ expectations of $185.06 million. Lemonade had a negative net margin of 26.39% and a negative return on equity of 31.86%. The firm’s revenue was up 42.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.95) EPS. On average, research analysts expect that Lemonade will post -3.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Adina Eckstein sold 41,557 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $78.95, for a total transaction of $3,280,925.15. Following the transaction, the chief operating officer owned 204,229 shares in the company, valued at approximately $16,123,879.55. This represents a 16.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Debra Schwartz sold 4,200 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $83.59, for a total value of $351,078.00. Following the completion of the transaction, the director owned 21,567 shares in the company, valued at approximately $1,802,785.53. The trade was a 16.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 160,725 shares of company stock worth $12,264,465. Corporate insiders own 14.70% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Several institutional investors have recently modified their holdings of LMND. JPMorgan Chase & Co. boosted its stake in Lemonade by 30.8% in the third quarter. JPMorgan Chase & Co. now owns 3,506,171 shares of the company’s stock valued at $187,685,000 after acquiring an additional 825,522 shares during the last quarter. BIT Capital GmbH raised its holdings in shares of Lemonade by 69.3% in the 3rd quarter. BIT Capital GmbH now owns 1,254,345 shares of the company’s stock valued at $67,145,000 after acquiring an additional 513,424 shares in the last quarter. Jump Financial LLC grew its stake in Lemonade by 365.8% in the 2nd quarter. Jump Financial LLC now owns 581,378 shares of the company’s stock worth $25,470,000 after buying an additional 456,571 shares in the last quarter. Halter Ferguson Financial Inc. increased its stake in Lemonade by 101.3% in the third quarter. Halter Ferguson Financial Inc. now owns 575,906 shares of the company’s stock valued at $30,828,000 after acquiring an additional 289,803 shares during the last quarter. Finally, Analyst IMS Investment Management Services Ltd. lifted its position in Lemonade by 80.7% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 571,768 shares of the company’s stock worth $25,049,000 after buying an additional 255,368 shares during the last quarter. 80.30% of the stock is owned by institutional investors.

About Lemonade

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.