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

Lemonade, Inc. (NYSE:LMND) has been assigned a consensus recommendation of “Hold” from the ten analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $66.7778.

LMND has been the topic of several analyst reports. Piper Sandler upped their price objective on Lemonade from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. TD Cowen reissued a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Citizens Jmp decreased their price target on Lemonade from $85.00 to $80.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. Truist Financial lowered their price target on Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods increased their price objective on Lemonade from $44.00 to $48.00 and gave the company an “underperform” rating in a research report on Wednesday, July 8th.

Insider Activity

In other news, insider John Sheldon Peters sold 3,608 shares of Lemonade stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $52.94, for a total value of $191,007.52. Following the completion of the sale, the insider directly owned 81,386 shares in the company, valued at $4,308,574.84. The trade was a 4.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Maya Prosor sold 1,220 shares of Lemonade stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total transaction of $64,867.40. Following the completion of the sale, the insider owned 187,573 shares of the company’s stock, valued at $9,973,256.41. This represents a 0.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 10,007 shares of company stock worth $620,201 in the last 90 days. Company insiders own 12.20% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd grew its position in Lemonade by 8,080.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock worth $29,000 after purchasing an additional 404 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of Lemonade during the 4th quarter valued at $33,000. Torren Management LLC bought a new position in shares of Lemonade during the 4th quarter valued at $35,000. NewEdge Advisors LLC purchased a new position in shares of Lemonade in the 1st quarter worth $35,000. Finally, Strive Financial Group LLC purchased a new position in shares of Lemonade in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Stock Performance

Shares of Lemonade stock opened at $67.52 on Tuesday. The company has a 50-day simple moving average of $60.51 and a two-hundred day simple moving average of $64.66. The stock has a market capitalization of $5.19 billion, a PE ratio of -36.11 and a beta of 1.79. Lemonade has a 52-week low of $35.70 and a 52-week high of $99.90.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.11. The firm had revenue of $258.00 million for the quarter, compared to analysts’ expectations of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The business’s revenue for the quarter was up 70.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.86) earnings per share. As a group, equities research analysts forecast that Lemonade will post -1.7 EPS for the current fiscal year.

Lemonade Company Profile

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.