Lemonade, Inc. (NYSE:LMND) Receives $31.00 Average Price Target from Analysts

Shares of Lemonade, Inc. (NYSE:LMND) have been given a consensus rating of “Reduce” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $31.00.

Separately, Piper Sandler cut their price objective on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th.

Lemonade Price Performance

NYSE:LMND opened at $28.19 on Wednesday. The company has a 50-day moving average of $34.36 and a 200 day moving average of $32.19. Lemonade has a 1-year low of $14.03 and a 1-year high of $53.85. The firm has a market cap of $2.05 billion, a PE ratio of -9.27 and a beta of 2.13.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.19. The firm had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $144.78 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. Sell-side analysts anticipate that Lemonade will post -3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Softbank Group Capital Ltd sold 42,160 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $37.22, for a total transaction of $1,569,195.20. Following the completion of the sale, the insider now owns 10,452,476 shares of the company’s stock, valued at $389,041,156.72. The trade was a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Sheldon Peters sold 1,899 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total transaction of $64,167.21. Following the transaction, the insider now owns 87,609 shares of the company’s stock, valued at approximately $2,960,308.11. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 248,634 shares of company stock worth $9,219,003. 12.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lemonade

Large investors have recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its stake in shares of Lemonade by 6.8% in the fourth quarter. Jones Financial Companies Lllp now owns 5,870 shares of the company’s stock worth $215,000 after buying an additional 375 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Lemonade by 8.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,463 shares of the company’s stock valued at $200,000 after acquiring an additional 423 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Lemonade by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 151,186 shares of the company’s stock worth $5,545,000 after purchasing an additional 442 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Lemonade by 4.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company’s stock worth $390,000 after purchasing an additional 500 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of Lemonade by 300.4% during the 4th quarter. Quarry LP now owns 933 shares of the company’s stock worth $34,000 after purchasing an additional 700 shares during the last quarter. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Lemonade Company Profile

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.