Lemonade (NYSE:LMND) Price Target Raised to $23.00

Lemonade (NYSE:LMND) had its target price boosted by BMO Capital Markets from $15.00 to $23.00 in a research note issued to investors on Wednesday,Benzinga reports. BMO Capital Markets currently has an underperform rating on the stock.

LMND has been the topic of a number of other reports. Morgan Stanley lowered Lemonade from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $35.00 to $24.00 in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $26.00 target price (up previously from $22.00) on shares of Lemonade in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.17.

Lemonade Stock Performance

Shares of NYSE LMND opened at $42.27 on Wednesday. The firm has a market cap of $3.10 billion, a P/E ratio of -13.90 and a beta of 2.20. The stock has a fifty day moving average price of $36.06 and a two-hundred day moving average price of $34.44. Lemonade has a 1 year low of $14.90 and a 1 year high of $53.85.

Lemonade (NYSE:LMND) last issued its earnings results on Wednesday, May 7th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Lemonade had a negative return on equity of 36.72% and a negative net margin of 38.90%. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.67) earnings per share. On average, research analysts predict that Lemonade will post -3.03 earnings per share for the current fiscal year.

Insider Transactions at Lemonade

In other news, major shareholder Softbank Group Capital Ltd sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $32.25, for a total transaction of $16,125,000.00. Following the transaction, the insider directly owned 7,498,723 shares of the company’s stock, valued at approximately $241,833,816.75. This trade represents a 6.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Adina Eckstein sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the transaction, the chief operating officer directly owned 189,653 shares in the company, valued at $8,534,385. This represents a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,509,545 shares of company stock worth $78,775,964 in the last three months. Insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new position in shares of Lemonade during the first quarter worth $26,000. Quarry LP increased its stake in Lemonade by 300.4% in the 4th quarter. Quarry LP now owns 933 shares of the company’s stock valued at $34,000 after buying an additional 700 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Lemonade during the 1st quarter worth approximately $35,000. Russell Investments Group Ltd. increased its stake in shares of Lemonade by 318.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock worth $42,000 after purchasing an additional 867 shares during the last quarter. Finally, Hollencrest Capital Management bought a new position in Lemonade in the 1st quarter worth approximately $41,000. 80.30% of the stock is owned by 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.