Lemonade, Inc. (NYSE:LMND) to Post Q2 2024 Earnings of ($0.88) Per Share, William Blair Forecasts

Lemonade, Inc. (NYSE:LMND) – Equities researchers at William Blair raised their Q2 2024 EPS estimates for Lemonade in a research note issued to investors on Wednesday, May 1st. William Blair analyst A. Klauber now expects that the company will earn ($0.88) per share for the quarter, up from their previous estimate of ($0.89). The consensus estimate for Lemonade’s current full-year earnings is ($2.96) per share. William Blair also issued estimates for Lemonade’s Q4 2024 earnings at ($0.65) EPS, FY2024 earnings at ($3.06) EPS and FY2025 earnings at ($2.64) EPS.

Other research analysts also recently issued research reports about the stock. Piper Sandler upped their price objective on shares of Lemonade from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price objective on shares of Lemonade in a research report on Monday, April 15th. TD Cowen started coverage on shares of Lemonade in a research report on Wednesday, January 10th. They set a “market perform” rating and a $17.00 price target for the company. Keefe, Bruyette & Woods upped their price target on shares of Lemonade from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Monday, March 4th. Finally, Morgan Stanley upped their price target on shares of Lemonade from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.88.

Lemonade Stock Performance

Shares of Lemonade stock opened at $17.38 on Monday. The firm has a 50-day simple moving average of $16.84 and a two-hundred day simple moving average of $16.47. The company has a market cap of $1.23 billion, a P/E ratio of -5.55 and a beta of 1.82. Lemonade has a fifty-two week low of $10.27 and a fifty-two week high of $24.81.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Tuesday, April 30th. The company reported ($0.67) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.14. The business had revenue of $119.10 million during the quarter, compared to the consensus estimate of $114.13 million. Lemonade had a negative net margin of 48.14% and a negative return on equity of 30.30%. The company’s revenue was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.95) earnings per share.

Institutional Trading of Lemonade

A number of hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its holdings in Lemonade by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 459,824 shares of the company’s stock valued at $7,417,000 after acquiring an additional 6,809 shares during the last quarter. Halter Ferguson Financial Inc. purchased a new stake in shares of Lemonade in the 4th quarter valued at approximately $6,429,000. Bank of New York Mellon Corp grew its stake in shares of Lemonade by 9.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 228,948 shares of the company’s stock valued at $2,660,000 after buying an additional 19,252 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Lemonade in the 1st quarter valued at approximately $3,100,000. Finally, Swiss National Bank grew its stake in shares of Lemonade by 1.2% in the 3rd quarter. Swiss National Bank now owns 114,500 shares of the company’s stock valued at $1,330,000 after buying an additional 1,400 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.

Insider Buying and Selling at Lemonade

In other Lemonade news, CFO Timothy E. Bixby acquired 10,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was bought at an average price of $16.54 per share, for a total transaction of $165,400.00. Following the acquisition, the chief financial officer now owns 10,000 shares in the company, valued at $165,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.70% of the stock is owned by insiders.

About Lemonade

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.