Lemonade (NYSE:LMND) Shares Up 7.9% – Should You Buy?

Lemonade, Inc. (NYSE:LMND) rose 7.9% on Tuesday . The stock traded as high as $81.98 and last traded at $81.0030. Approximately 1,033,953 shares were traded during trading, a decline of 58% from the average daily volume of 2,433,377 shares. The stock had previously closed at $75.07.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LMND shares. Citizens Jmp lifted their price objective on shares of Lemonade from $60.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Monday, November 24th. Piper Sandler lowered their price target on shares of Lemonade from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, October 10th. JMP Securities set a $80.00 price objective on Lemonade in a research note on Monday, November 24th. Morgan Stanley set a $85.00 price objective on Lemonade and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.14.

Lemonade Stock Up 4.7%

The firm has a market cap of $6.19 billion, a PE ratio of -34.64 and a beta of 2.13. The business has a 50 day simple moving average of $67.10 and a two-hundred day simple moving average of $54.24.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.21. The firm had revenue of $194.50 million for the quarter, compared to analysts’ expectations of $185.06 million. Lemonade had a negative net margin of 26.39% and a negative return on equity of 31.86%. The business’s revenue for the quarter was up 42.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.95) earnings per share. Equities analysts forecast that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Insider Activity at Lemonade

In other Lemonade news, COO Adina Eckstein sold 7,919 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $81.15, for a total value of $642,626.85. Following the completion of the sale, the chief operating officer directly owned 188,391 shares in the company, valued at approximately $15,287,929.65. This represents a 4.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Sheldon Peters sold 3,554 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $81.00, for a total value of $287,874.00. Following the transaction, the insider owned 70,771 shares in the company, valued at approximately $5,732,451. This represents a 4.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 160,725 shares of company stock worth $12,264,465. Company insiders own 14.70% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Analyst IMS Investment Management Services Ltd. grew its stake in Lemonade by 80.7% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 571,768 shares of the company’s stock worth $25,049,000 after buying an additional 255,368 shares during the last quarter. Mandatum Life Insurance Co Ltd acquired a new stake in Lemonade in the second quarter worth about $202,000. Bank of New York Mellon Corp boosted its holdings in Lemonade by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 160,328 shares of the company’s stock worth $7,024,000 after acquiring an additional 6,646 shares in the last quarter. Titleist Asset Management LLC purchased a new stake in shares of Lemonade during the second quarter worth about $203,000. Finally, Jump Financial LLC increased its holdings in shares of Lemonade by 365.8% during the second 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 in 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.