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

Lemonade, Inc. (NYSE:LMND) has received a consensus rating of “Hold” from the nine analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $64.50.

Several equities analysts have weighed in on the stock. UBS Group set a $75.00 price target on shares of Lemonade in a report on Thursday, May 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research note on Friday, July 17th. Wall Street Zen downgraded shares of Lemonade from a “hold” rating to a “sell” rating in a research report on Saturday. Keefe, Bruyette & Woods upgraded shares of Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 target price on the stock in a research note on Thursday, July 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lemonade in a report on Tuesday, May 26th.

Lemonade Stock Up 5.1%

NYSE LMND opened at $53.29 on Friday. The stock’s 50-day moving average price is $60.00 and its 200-day moving average price is $60.00. Lemonade has a 52 week low of $46.16 and a 52 week high of $99.90. The company has a market capitalization of $4.12 billion, a P/E ratio of -29.12 and a beta of 1.84.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.56) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.56). The firm had revenue of $294.40 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm earned ($0.60) EPS. Research analysts anticipate that Lemonade will post -1.85 EPS for the current year.

Insider Transactions at Lemonade

In related news, insider John Sheldon Peters sold 11,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $52.55, for a total transaction of $578,050.00. Following the completion of the sale, the insider owned 76,942 shares in the company, valued at approximately $4,043,302.10. This trade represents a 12.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Maya Prosor sold 1,220 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total value of $64,867.40. Following the sale, the insider owned 187,573 shares of the company’s stock, valued at $9,973,256.41. This represents a 0.65% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 21,007 shares of company stock worth $1,198,251. Insiders own 12.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its position in shares of Lemonade by 8,080.0% during 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. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Lemonade in the fourth quarter worth $33,000. Torren Management LLC bought a new position in shares of Lemonade during the fourth quarter worth $35,000. NewEdge Advisors LLC bought a new position in shares of Lemonade during the first quarter worth $35,000. Finally, Strive Financial Group LLC purchased a new position in Lemonade during the fourth quarter valued at $38,000. 80.30% of the stock is currently owned by institutional investors.

About Lemonade

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.