Lemonade, Inc. (NYSE:LMND) Given Consensus Rating of “Reduce” by Brokerages

Lemonade, Inc. (NYSE:LMND) has been assigned a consensus rating of “Reduce” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $17.11.

Several analysts have recently issued reports on LMND shares. TD Cowen initiated coverage on shares of Lemonade in a research report on Wednesday, January 10th. They set a “market perform” rating and a $17.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and issued a $40.00 target price on shares of Lemonade in a report on Monday, April 15th. Keefe, Bruyette & Woods increased their price target on Lemonade from $16.00 to $18.00 and gave the company a “market perform” rating in a report on Monday, March 4th. Morgan Stanley lifted their price objective on shares of Lemonade from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 28th. Finally, Piper Sandler reiterated a “neutral” rating and set a $17.00 price objective on shares of Lemonade in a research report on Thursday, February 29th.

Insider Buying and Selling

In other Lemonade news, CFO Timothy E. Bixby acquired 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average price of $16.54 per share, with a total value of $165,400.00. Following the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $165,400. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 11.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lemonade

Several hedge funds have recently added to or reduced their stakes in LMND. McGlone Suttner Wealth Management Inc. purchased a new stake in Lemonade in the 4th quarter worth approximately $30,000. Asset Management One Co. Ltd. grew its position in Lemonade by 48.0% during the third quarter. Asset Management One Co. Ltd. now owns 4,343 shares of the company’s stock valued at $50,000 after buying an additional 1,409 shares during the period. Tower Research Capital LLC TRC increased its holdings in Lemonade by 236.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,246 shares of the company’s stock valued at $85,000 after buying an additional 3,687 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Lemonade in the third quarter worth about $108,000. Finally, Quest Partners LLC acquired a new position in shares of Lemonade in the fourth quarter worth about $151,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Lemonade Trading Up 1.6 %

NYSE:LMND opened at $17.95 on Monday. Lemonade has a 12-month low of $10.27 and a 12-month high of $24.81. The stock has a 50-day moving average price of $16.85 and a 200 day moving average price of $16.30. The stock has a market capitalization of $1.27 billion, a P/E ratio of -5.26 and a beta of 1.89.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.61) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.18. The business had revenue of $115.50 million for the quarter, compared to analysts’ expectations of $111.71 million. Lemonade had a negative net margin of 55.12% and a negative return on equity of 31.29%. The business’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.93) EPS. On average, research analysts predict that Lemonade will post -3.03 earnings per share for the current fiscal year.

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.