Lemonade (NYSE:LMND) Upgraded at Truist Financial

Lemonade (NYSE:LMND) was upgraded by Truist Financial to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Keefe, Bruyette & Woods raised their target price on Lemonade from $35.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 25th. Citigroup reiterated a “market outperform” rating on shares of Lemonade in a research note on Monday, November 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a report on Wednesday, October 8th. JMP Securities set a $80.00 price objective on Lemonade in a research note on Monday, November 24th. Finally, Morgan Stanley set a $85.00 target price on shares of Lemonade and gave the stock an “equal weight” rating in a research report on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $67.50.

Lemonade Stock Performance

Shares of LMND stock opened at $80.97 on Tuesday. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of -33.88 and a beta of 1.98. Lemonade has a 52 week low of $24.31 and a 52 week high of $85.20. The firm’s 50-day simple moving average is $74.66 and its two-hundred day simple moving average is $58.18.

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

Insider Activity at Lemonade

In other news, Director Debra Schwartz sold 4,200 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $83.59, for a total transaction of $351,078.00. Following the sale, the director directly owned 21,567 shares in the company, valued at $1,802,785.53. This represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John Sheldon Peters sold 3,554 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $81.00, for a total transaction of $287,874.00. Following the completion of the sale, the insider directly owned 70,771 shares in the company, valued at approximately $5,732,451. The trade was a 4.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 160,725 shares of company stock worth $12,264,465. 14.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lemonade

Several hedge funds have recently bought and sold shares of LMND. Bayforest Capital Ltd purchased a new stake in Lemonade in the 3rd quarter worth approximately $25,000. Strategic Advocates LLC purchased a new position in shares of Lemonade during the 3rd quarter valued at $33,000. NewEdge Advisors LLC bought a new position in shares of Lemonade in the first quarter worth $35,000. Estabrook Capital Management purchased a new stake in shares of Lemonade in the second quarter worth $44,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Lemonade by 30.7% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,034 shares of the company’s stock worth $45,000 after buying an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.