Brokerages Set Lemonade, Inc. (NYSE:LMND) Target Price at $58.57

Shares of Lemonade, Inc. (NYSE:LMND) have been given an average rating of “Hold” by the eight research firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $58.5714.

A number of equities research analysts have weighed in on the company. Morgan Stanley boosted their price objective on Lemonade from $49.00 to $53.00 and gave the company an “underweight” rating in a research note on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price target on shares of Lemonade from $35.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, November 25th. BMO Capital Markets raised their price objective on shares of Lemonade from $23.00 to $42.00 and gave the stock an “underperform” rating in a research report on Monday, August 18th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Lemonade in a report on Monday, November 24th.

Lemonade Price Performance

Shares of NYSE:LMND opened at $78.49 on Monday. Lemonade has a 12 month low of $24.31 and a 12 month high of $83.77. The firm has a market capitalization of $5.87 billion, a P/E ratio of -32.84 and a beta of 2.13. The company’s fifty day moving average price is $64.67 and its 200 day moving average price is $52.61.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.21. The company had revenue of $194.50 million during the quarter, compared to the consensus estimate of $185.06 million. Lemonade had a negative net margin of 26.39% and a negative return on equity of 31.86%. Lemonade’s revenue for the quarter was up 42.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.95) earnings per share. On average, sell-side analysts anticipate that Lemonade will post -3.03 EPS for the current year.

Insider Activity at Lemonade

In other news, COO Adina Eckstein sold 29,237 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $77.17, for a total transaction of $2,256,219.29. Following the completion of the sale, the chief operating officer owned 204,229 shares in the company, valued at $15,760,351.93. This represents a 12.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Sheldon Peters sold 2,667 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $72.37, for a total value of $193,010.79. Following the sale, the insider directly owned 74,325 shares of the company’s stock, valued at approximately $5,378,900.25. This represents a 3.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 145,052 shares of company stock valued at $10,982,886. 14.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in shares of Lemonade by 30.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,506,171 shares of the company’s stock worth $187,685,000 after purchasing an additional 825,522 shares in the last quarter. Vanguard Group Inc. grew its position in Lemonade by 14.9% during the first quarter. Vanguard Group Inc. now owns 6,138,444 shares of the company’s stock worth $192,931,000 after buying an additional 794,952 shares during the period. BIT Capital GmbH increased its holdings in Lemonade by 69.3% in the third quarter. BIT Capital GmbH now owns 1,254,345 shares of the company’s stock valued at $67,145,000 after buying an additional 513,424 shares in the last quarter. Jump Financial LLC lifted its position in shares of Lemonade by 365.8% during the 2nd quarter. Jump Financial LLC now owns 581,378 shares of the company’s stock valued at $25,470,000 after acquiring an additional 456,571 shares during the period. Finally, Halter Ferguson Financial Inc. boosted its stake in shares of Lemonade by 101.3% during the 3rd quarter. Halter Ferguson Financial Inc. now owns 575,906 shares of the company’s stock worth $30,828,000 after acquiring an additional 289,803 shares in the last quarter. 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.