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

Lemonade, Inc. (NYSE:LMND) has earned an average recommendation of “Hold” from the nine analysts that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $68.75.

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley raised shares of Lemonade from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $80.00 to $85.00 in a research note on Tuesday. Piper Sandler set a $65.00 price target on shares of Lemonade in a research note on Thursday, February 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a report on Thursday, January 22nd. Citizens Jmp set a $80.00 price objective on Lemonade in a research report on Monday, November 24th. Finally, Wolfe Research set a $44.00 target price on Lemonade in a report on Tuesday, February 24th.

Insider Activity at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 3,571 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $52.50, for a total transaction of $187,477.50. Following the completion of the transaction, the insider owned 76,729 shares of the company’s stock, valued at approximately $4,028,272.50. This trade represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Daniel A. Schreiber sold 9,108 shares of the business’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $99.04, for a total transaction of $902,056.32. Following the sale, the chief executive officer owned 1,514,426 shares in the company, valued at approximately $149,988,751.04. This trade represents a 0.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,300 shares of company stock worth $14,796,026 over the last 90 days. 12.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. AQR Capital Management LLC lifted its position in Lemonade by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 30,490 shares of the company’s stock valued at $958,000 after acquiring an additional 15,779 shares during the period. Millennium Management LLC grew its stake in shares of Lemonade by 255.2% in the 1st quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock worth $10,370,000 after buying an additional 237,044 shares during the last quarter. NewEdge Advisors LLC bought a new position in Lemonade during the 1st quarter valued at approximately $35,000. Goldman Sachs Group Inc. increased its position in Lemonade by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock valued at $19,244,000 after buying an additional 41,759 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Lemonade by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 160,328 shares of the company’s stock valued at $7,024,000 after buying an additional 6,646 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors.

Lemonade Stock Up 15.9%

Shares of LMND stock opened at $66.90 on Wednesday. The stock has a fifty day moving average of $69.77 and a 200 day moving average of $66.43. Lemonade has a 52 week low of $24.31 and a 52 week high of $99.90. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of -29.60 and a beta of 2.12.

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

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.