Morgan Stanley Has Lowered Expectations for Lemonade (NYSE:LMND) Stock Price

Lemonade (NYSE:LMND) had its price target lowered by stock analysts at Morgan Stanley from $80.00 to $75.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 30.92% from the company’s current price.

LMND has been the topic of several other research reports. Truist Financial lowered their price objective on Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Wolfe Research set a $44.00 target price on shares of Lemonade in a research report on Tuesday, February 24th. Citizens Jmp decreased their price target on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a research report on Tuesday, April 21st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Lemonade from $40.00 to $44.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 24th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Lemonade has an average rating of “Hold” and an average price target of $63.63.

Lemonade Stock Down 0.1%

Shares of LMND stock opened at $57.29 on Thursday. The firm has a 50 day moving average price of $60.26 and a two-hundred day moving average price of $68.68. The company has a market capitalization of $4.40 billion, a PE ratio of -30.70 and a beta of 1.85. Lemonade has a 12-month low of $28.71 and a 12-month high of $99.90.

Lemonade (NYSE:LMND) last posted its earnings results on Wednesday, April 29th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.11. The company had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The firm’s revenue for the quarter was up 70.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.86) earnings per share. As a group, research analysts expect that Lemonade will post -1.67 EPS for the current year.

Insider Buying and Selling

In other Lemonade news, insider John Sheldon Peters sold 3,571 shares of Lemonade stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $52.50, for a total value of $187,477.50. Following the completion of the transaction, the insider directly owned 76,729 shares of the company’s stock, valued at $4,028,272.50. The trade was a 4.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 5,567 shares of company stock worth $287,517. 14.70% of the stock is owned by company insiders.

Institutional Trading of Lemonade

Large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its stake in Lemonade by 8,080.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock valued at $29,000 after purchasing an additional 404 shares in the last quarter. Strategic Advocates LLC bought a new position in Lemonade in the 3rd quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. bought a new position in Lemonade in the 4th quarter valued at about $33,000. Torren Management LLC acquired a new position in shares of Lemonade in the 4th quarter valued at approximately $35,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Lemonade in the 1st quarter valued at approximately $35,000. 80.30% of the stock is owned by institutional investors and hedge funds.

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.