Lemonade, Inc. (NYSE:LMND) Given Average Rating of “Hold” by Brokerages

by · The Markets Daily

Shares of Lemonade, Inc. (NYSE:LMND – Get Free Report) have been given a consensus rating of “Hold” by the nine research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $64.50.

Several analysts have recently weighed in on LMND shares. Keefe, Bruyette & Woods upgraded shares of Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price objective for the company in a research report on Thursday, July 30th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Wall Street Zen lowered shares of Lemonade from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Piper Sandler decreased their price objective on shares of Lemonade from $75.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a research note on Friday, July 17th.

Read Our Latest Research Report on LMND

Lemonade Stock Performance

NYSE:LMND opened at $49.43 on Wednesday. Lemonade has a 1 year low of $46.16 and a 1 year high of $99.90. The stock has a market cap of $3.83 billion, a P/E ratio of -27.01 and a beta of 1.87. The stock has a 50-day simple moving average of $57.25 and a 200-day simple moving average of $58.34.

Lemonade (NYSE:LMND – Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share for the quarter, hitting the consensus estimate of ($0.56). The business had revenue of $294.40 million for the quarter, compared to analyst estimates of $291.01 million. Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.The business’s quarterly revenue was up 79.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.60) EPS. On average, equities research analysts predict that Lemonade will post -1.85 EPS for the current year.

Insider Activity

In other Lemonade news, insider Maya Prosor sold 1,040 shares of Lemonade stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $54.63, for a total transaction of $56,815.20. Following the transaction, the insider owned 186,533 shares of the company’s stock, valued at $10,190,297.79. The trade was a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Peters sold 2,249 shares of Lemonade stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $54.45, for a total value of $122,458.05. Following the transaction, the insider directly owned 73,834 shares in the company, valued at approximately $4,020,261.30. This trade represents a 2.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 18,592 shares of company stock valued at $1,076,326 over the last three months. Company insiders own 12.20% of the company’s stock.

Hedge Funds Weigh In On Lemonade

A number of hedge funds have recently modified their holdings of LMND. Caitong International Asset Management Co. Ltd raised its holdings in shares of 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 buying an additional 404 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in Lemonade during the 2nd quarter valued at approximately $30,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Lemonade during the 4th quarter valued at approximately $33,000. Strive Financial Group LLC acquired a new stake in Lemonade during the 4th quarter worth approximately $38,000. Finally, State of Wyoming acquired a new stake in Lemonade during the 1st quarter worth approximately $42,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

About Lemonade

(Get Free Report)

Lemonade, Inc is a technology-driven insurance company that offers digital insurance products through its website and mobile applications. Its platform uses automation, artificial intelligence and behavioral economics to streamline policy applications, claims processing and customer service.

The company provides renters, homeowners, pet, term life and automobile insurance. Product availability varies by location, and Lemonade distributes its offerings through regulated insurance entities and licensed partners.

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