Lemonade (NYSE:LMND) Stock Price Up 6.5% – Should You Buy?

Lemonade, Inc. (NYSE:LMND) shares were up 6.5% during trading on Monday . The stock traded as high as $54.27 and last traded at $54.68. Approximately 227,562 shares were traded during trading, a decline of 90% from the average daily volume of 2,272,109 shares. The stock had previously closed at $51.35.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LMND shares. Keefe, Bruyette & Woods raised their price objective on Lemonade from $40.00 to $44.00 and gave the company an “underperform” rating in a report on Tuesday, February 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research report on Tuesday, April 21st. Wolfe Research set a $44.00 price target on Lemonade in a research note on Tuesday, February 24th. Citizens Jmp lowered their price target on Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Finally, Morgan Stanley set a $80.00 price objective on Lemonade in a research note on Friday, May 8th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $64.25.

Lemonade Trading Down 1.1%

The stock’s 50-day simple moving average is $60.22 and its 200-day simple moving average is $68.69. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of -28.81 and a beta of 1.85.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.11. The company had revenue of $258.00 million during the quarter, compared to the consensus estimate of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The firm’s quarterly revenue was up 70.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.86) earnings per share. On average, equities research analysts forecast that Lemonade, Inc. will post -1.67 earnings per share for the current year.

Insiders Place Their Bets

In other Lemonade news, insider John Sheldon Peters sold 3,571 shares of Lemonade stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $52.50, for a total value of $187,477.50. Following the completion of the transaction, the insider directly owned 76,729 shares of the company’s stock, valued at $4,028,272.50. The trade was a 4.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 5,567 shares of company stock valued at $287,517. 12.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its stake in Lemonade by 8,080.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock worth $29,000 after buying an additional 404 shares in the last quarter. Strategic Advocates LLC acquired a new position in shares of Lemonade in the 3rd quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Lemonade during the 4th quarter worth approximately $33,000. Torren Management LLC bought a new stake in shares of Lemonade during the 4th quarter worth approximately $35,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Lemonade during the 1st quarter worth approximately $35,000. 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.