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

Shares of Lemonade, Inc. (NYSE:LMND) have been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $71.50.

LMND has been the topic of several analyst reports. Morgan Stanley set a $85.00 price target on shares of Lemonade and gave the stock an “equal weight” rating in a research report on Tuesday, December 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Lemonade from $35.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 25th. Truist Financial assumed coverage on shares of Lemonade in a research note on Tuesday, January 6th. They issued a “buy” rating and a $98.00 target price for the company. Citizens Jmp lifted their price target on Lemonade from $60.00 to $80.00 and gave the stock a “market outperform” rating in a report on Monday, November 24th. Finally, Citigroup restated an “outperform” rating on shares of Lemonade in a research note on Friday, January 16th.

Lemonade Stock Performance

LMND opened at $89.68 on Tuesday. The business’s 50-day simple moving average is $78.27 and its 200 day simple moving average is $62.07. Lemonade has a 52-week low of $24.31 and a 52-week high of $99.90. The firm has a market capitalization of $6.70 billion, a PE ratio of -37.52 and a beta of 1.98.

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

Insiders Place Their Bets

In other Lemonade news, CEO Daniel A. Schreiber sold 126,625 shares of Lemonade stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 1,523,534 shares of the company’s stock, valued at $144,339,611.16. The trade was a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Debra Schwartz sold 4,200 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $83.59, for a total transaction 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. This represents a 16.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 306,350 shares of company stock worth $25,870,918 in the last quarter. Insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its stake in Lemonade by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 30,490 shares of the company’s stock worth $958,000 after acquiring an additional 15,779 shares during the period. Millennium Management LLC grew its holdings in shares of Lemonade by 255.2% during the 1st quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock worth $10,370,000 after purchasing an additional 237,044 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Lemonade in the first quarter worth $35,000. Goldman Sachs Group Inc. raised its stake in Lemonade by 7.3% in the first quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock valued at $19,244,000 after purchasing an additional 41,759 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Lemonade in the second quarter valued at about $365,000. 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.