Lemonade (NYSE:LMND) Given New $75.00 Price Target at Morgan Stanley

Lemonade (NYSE:LMND) had its price objective cut by research analysts at Morgan Stanley from $80.00 to $75.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 30.92% from the company’s previous close.

Several other research analysts also recently commented on LMND. Wolfe Research set a $44.00 target price on Lemonade in a research note on Tuesday, February 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a research note on Tuesday, April 21st. Truist Financial decreased their price target on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Keefe, Bruyette & Woods upped their price objective on shares of Lemonade from $40.00 to $44.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 24th. Finally, Piper Sandler dropped their price objective on shares of Lemonade from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $63.63.

Lemonade Stock Performance

Shares of LMND stock opened at $57.29 on Thursday. Lemonade has a fifty-two week low of $28.71 and a fifty-two week high of $99.90. The stock’s fifty day moving average price is $60.26 and its two-hundred day moving average price is $68.68. The company has a market cap of $4.40 billion, a PE ratio of -30.70 and a beta of 1.85.

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

Insider Buying and Selling

In related news, insider John Sheldon Peters sold 3,571 shares of Lemonade stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $52.50, for a total transaction of $187,477.50. Following the sale, the insider directly owned 76,729 shares in the company, valued at $4,028,272.50. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 5,567 shares of company stock worth $287,517. 14.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lemonade

Hedge funds have recently modified their holdings of the business. TD Waterhouse Canada Inc. grew its stake in shares of Lemonade by 3.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,671 shares of the company’s stock worth $261,000 after purchasing an additional 121 shares during the last quarter. Watershed Private Wealth LLC grew its position in shares of Lemonade by 1.7% in the 4th quarter. Watershed Private Wealth LLC now owns 8,310 shares of the company’s stock valued at $592,000 after buying an additional 140 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Lemonade by 0.7% in the 4th quarter. AQR Capital Management LLC now owns 21,569 shares of the company’s stock valued at $1,535,000 after buying an additional 159 shares during the last quarter. Titleist Asset Management LLC increased its position in Lemonade by 4.1% during the 3rd quarter. Titleist Asset Management LLC now owns 4,832 shares of the company’s stock valued at $259,000 after purchasing an additional 189 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in Lemonade by 2.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,431 shares of the company’s stock valued at $600,000 after purchasing an additional 219 shares during the period. Institutional investors and hedge funds 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.