Lemonade (NYSE:LMND) PT Raised to $18.00

Lemonade (NYSE:LMND) had its price target increased by equities researchers at Piper Sandler from $17.00 to $18.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 3.57% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. TD Cowen began coverage on Lemonade in a research note on Wednesday, January 10th. They set a “market perform” rating and a $17.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a research report on Monday, April 15th. 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, Keefe, Bruyette & Woods upped their target price on shares of Lemonade from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Monday, March 4th. Two equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.22.

Lemonade Stock Performance

Lemonade stock traded down $0.36 during trading hours on Thursday, reaching $17.38. 1,723,844 shares of the company’s stock traded hands, compared to its average volume of 1,521,711. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -5.55 and a beta of 1.82. Lemonade has a fifty-two week low of $10.27 and a fifty-two week high of $24.81. The firm’s 50 day moving average is $16.84 and its 200-day moving average is $16.42.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.14. Lemonade had a negative net margin of 48.14% and a negative return on equity of 30.30%. The business had revenue of $119.10 million for the quarter, compared to analyst estimates of $114.13 million. During the same period in the prior year, the business posted ($0.95) earnings per share. Lemonade’s revenue was up 25.1% compared to the same quarter last year. Analysts predict that Lemonade will post -3.03 EPS for the current year.

Insider Activity

In related news, CFO Timothy E. Bixby acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $16.54 per share, for a total transaction of $165,400.00. Following the completion of the acquisition, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $165,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Hedge funds and other institutional investors have recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Lemonade in the fourth quarter valued at approximately $30,000. Asset Management One Co. Ltd. lifted its position in Lemonade by 48.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 4,343 shares of the company’s stock worth $50,000 after buying an additional 1,409 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Lemonade by 236.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,246 shares of the company’s stock worth $85,000 after buying an additional 3,687 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Lemonade in the 3rd quarter valued at about $108,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Lemonade in the third quarter valued at about $117,000. Institutional investors and hedge funds 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.