Lemonade’s (LMND) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Lemonade (NYSE:LMND) in a research note released on Monday morning, Benzinga reports. JMP Securities currently has a $40.00 price objective on the stock.

Several other equities research analysts have also recently commented on LMND. TD Cowen initiated coverage on shares of Lemonade in a research report on Wednesday, January 10th. They issued a market perform rating and a $17.00 target price for the company. Keefe, Bruyette & Woods lifted their price objective on Lemonade from $16.00 to $18.00 and gave the company a market perform rating in a research report on Monday, March 4th. Piper Sandler reiterated a neutral rating and set a $17.00 target price on shares of Lemonade in a report on Thursday, February 29th. Finally, Morgan Stanley raised their target price on Lemonade from $13.00 to $14.00 and gave the company an underweight rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $17.11.

Lemonade Trading Down 2.5 %

Lemonade stock opened at $16.36 on Monday. The firm has a market cap of $1.15 billion, a P/E ratio of -4.80 and a beta of 1.89. Lemonade has a 1-year low of $10.27 and a 1-year high of $24.81. The firm has a 50-day moving average of $16.85 and a 200-day moving average of $15.98.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.61) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.18. The business had revenue of $115.50 million during the quarter, compared to analysts’ expectations of $111.71 million. Lemonade had a negative return on equity of 31.29% and a negative net margin of 55.12%. The business’s revenue was up 30.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.93) EPS. Research analysts forecast that Lemonade will post -3.07 earnings per share for the current fiscal year.

Insider Transactions at Lemonade

In related news, CFO Timothy E. Bixby bought 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average cost of $16.54 per share, for a total transaction of $165,400.00. Following the purchase, the chief financial officer now owns 10,000 shares in the company, valued at $165,400. The acquisition was disclosed in a filing with the SEC, which is available through this link. 11.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Lemonade

A number of hedge funds have recently modified their holdings of LMND. MetLife Investment Management LLC purchased a new position in Lemonade during the 1st quarter valued at approximately $25,000. McGlone Suttner Wealth Management Inc. bought a new position in Lemonade in the fourth quarter worth approximately $30,000. Tyler Stone Wealth Management purchased a new position in Lemonade during the 2nd quarter worth $34,000. Captrust Financial Advisors increased its holdings in Lemonade by 91.7% during the 2nd quarter. Captrust Financial Advisors now owns 1,909 shares of the company’s stock worth $35,000 after purchasing an additional 913 shares during the period. Finally, Coppell Advisory Solutions LLC purchased a new stake in shares of Lemonade in the 2nd quarter worth $45,000. 80.30% of the stock is currently owned by institutional investors.

Lemonade Company Profile

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.