Piper Sandler Reiterates “Neutral” Rating for Lemonade (NYSE:LMND)

Lemonade (NYSE:LMND)‘s stock had its “neutral” rating reissued by equities research analysts at Piper Sandler in a report issued on Thursday, MarketBeat.com reports. They presently have a $55.00 price objective on the stock. Piper Sandler’s target price would suggest a potential downside of 4.08% from the company’s previous close.

Other analysts also recently issued reports about the stock. Wall Street Zen raised shares of Lemonade from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. BMO Capital Markets boosted their target price on shares of Lemonade from $15.00 to $23.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 2nd. Morgan Stanley reissued an “underweight” rating and issued a $26.00 target price (up from $24.00) on shares of Lemonade in a research report on Monday, July 14th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $26.00 target price (up from $22.00) on shares of Lemonade in a research report on Tuesday, July 1st. Finally, Cantor Fitzgerald raised shares of Lemonade to a “strong-buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $37.71.

Lemonade Stock Performance

Shares of LMND opened at $57.34 on Thursday. The company’s 50 day moving average price is $43.10 and its 200 day moving average price is $36.08. Lemonade has a 52 week low of $15.27 and a 52 week high of $60.41. The company has a market capitalization of $4.24 billion, a PE ratio of -20.26 and a beta of 2.19.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.21. Lemonade had a negative net margin of 33.96% and a negative return on equity of 36.12%. The firm had revenue of $164.10 million for the quarter, compared to the consensus estimate of $160.88 million. During the same period in the previous year, the firm posted ($0.81) earnings per share. The firm’s revenue was up 34.5% on a year-over-year basis. On average, equities analysts forecast that Lemonade will post -3.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Lemonade

In related news, COO Adina Eckstein sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $49.00, for a total transaction of $245,000.00. Following the completion of the transaction, the chief operating officer directly owned 189,653 shares in the company, valued at $9,292,997. This represents a 2.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Sheldon Peters sold 6,543 shares of the company’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $45.00, for a total transaction of $294,435.00. Following the transaction, the insider owned 106,115 shares of the company’s stock, valued at approximately $4,775,175. The trade was a 5.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,289 shares of company stock valued at $825,982. Corporate insiders own 14.70% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Large investors have recently bought and sold shares of the stock. SVB Wealth LLC acquired a new position in shares of Lemonade in the 1st quarter valued at $26,000. Quarry LP raised its stake in shares of 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 in the last quarter. NewEdge Advisors LLC acquired a new position in shares of Lemonade in the 1st quarter valued at $35,000. Hollencrest Capital Management acquired a new position in shares of Lemonade in the 1st quarter valued at $41,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Lemonade by 318.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock valued at $42,000 after buying an additional 867 shares in the last quarter. 80.30% of the stock is currently owned by institutional investors and hedge funds.

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.