Lemonade (NYSE:LMND) Price Target Raised to $15.00

Lemonade (NYSE:LMND) had its price objective boosted by BMO Capital Markets from $13.00 to $15.00 in a research report released on Thursday,Benzinga reports. BMO Capital Markets currently has an underperform rating on the stock.

LMND has been the topic of a number of other research reports. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $23.00 to $42.00 in a research report on Wednesday. Piper Sandler upped their price target on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and raised their price objective for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. Jefferies Financial Group cut their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Finally, JMP Securities reissued a “market outperform” rating and set a $40.00 price target on shares of Lemonade in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Lemonade has an average rating of “Hold” and an average price target of $30.43.

Lemonade Trading Down 2.1 %

Shares of NYSE LMND opened at $49.28 on Thursday. Lemonade has a 12-month low of $14.03 and a 12-month high of $52.22. The firm’s 50-day moving average price is $22.98 and its 200-day moving average price is $19.52. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -16.21 and a beta of 1.68.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. The business had revenue of $136.60 million for the quarter, compared to the consensus estimate of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.88) earnings per share. On average, equities analysts predict that Lemonade will post -3.05 EPS for the current fiscal year.

Insider Activity at Lemonade

In related news, COO Adina Eckstein sold 23,644 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $40.00, for a total value of $945,760.00. Following the completion of the sale, the chief operating officer now directly owns 189,653 shares of the company’s stock, valued at $7,586,120. This represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy E. Bixby sold 2,050 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total transaction of $37,392.00. Following the transaction, the chief financial officer now owns 271,552 shares in the company, valued at approximately $4,953,108.48. The trade was a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,892 shares of company stock worth $3,783,045. Company insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

Hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP raised its position in shares of Lemonade by 31.0% in the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after acquiring an additional 42,822 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Lemonade by 1,549.0% in the third quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock worth $324,000 after purchasing an additional 18,480 shares in the last quarter. Millennium Management LLC lifted its position in shares of Lemonade by 388.7% during the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after buying an additional 131,784 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Lemonade by 436.2% in the 2nd quarter. Squarepoint Ops LLC now owns 45,573 shares of the company’s stock valued at $752,000 after buying an additional 37,073 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in shares of Lemonade in the 1st quarter worth approximately $718,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.