Lemonade (NYSE:LMND) Price Target Raised to $23.00

Lemonade (NYSE:LMND) had its price target hoisted by Morgan Stanley from $15.00 to $23.00 in a report issued on Friday,Benzinga reports. They currently have an underweight rating on the stock.

LMND has been the subject of several other reports. Jefferies Financial Group cut their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Piper Sandler upped their target price on shares of Lemonade from $18.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and upped their target price for the stock from $18.00 to $21.00 in a research report on Thursday, November 7th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $40.00 target price on shares of Lemonade in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lemonade has an average rating of “Hold” and an average price target of $23.33.

Lemonade Price Performance

Shares of LMND stock opened at $33.30 on Friday. The company’s fifty day simple moving average is $20.36 and its two-hundred day simple moving average is $18.60. Lemonade has a 1 year low of $14.03 and a 1 year high of $35.17. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -10.95 and a beta of 1.68.

Lemonade (NYSE:LMND) last issued its earnings results 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 analysts’ expectations of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.88) EPS. Equities research analysts anticipate that Lemonade will post -3.05 EPS for the current year.

Insider Buying and Selling

In related news, Director Maria Angelidis-Smith purchased 15,042 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average cost of $33.23 per share, with a total value of $499,845.66. Following the completion of the purchase, the director now directly owns 33,554 shares in the company, valued at approximately $1,114,999.42. This represents a 81.26 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Maya Prosor sold 20,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.00, for a total transaction of $600,000.00. Following the completion of the transaction, the insider now directly owns 59,286 shares of the company’s stock, valued at approximately $1,778,580. The trade was a 25.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Lemonade

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Axiom Advisory LLC grew its holdings in Lemonade by 1.6% in the third quarter. Axiom Advisory LLC now owns 54,400 shares of the company’s stock worth $897,000 after purchasing an additional 850 shares during the period. Blue Trust Inc. grew its holdings in shares of Lemonade by 220.0% during the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after buying an additional 1,879 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Lemonade by 12.1% during the second quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock valued at $293,000 after buying an additional 1,915 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Lemonade by 9.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock valued at $404,000 after buying an additional 2,196 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Lemonade by 9.7% during the second quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock valued at $482,000 after buying an additional 2,582 shares during the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.