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

Lemonade (NYSE:LMND)‘s stock had its “neutral” rating restated by equities researchers at Piper Sandler in a report released on Thursday, Marketbeat.com reports. They presently have a $55.00 price target on the stock. Piper Sandler’s price target points to a potential downside of 4.08% from the stock’s current price.

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

Lemonade Stock Down 2.0%

Shares of LMND stock traded down $1.18 during mid-day trading on Thursday, reaching $57.34. 1,876,957 shares of the stock traded hands, compared to its average volume of 3,370,924. The stock’s fifty day simple moving average is $43.10 and its two-hundred day simple moving average is $36.08. Lemonade has a 1-year low of $15.27 and a 1-year high of $60.41. The company has a market cap of $4.24 billion, a price-to-earnings ratio of -20.26 and a beta of 2.19.

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

Insiders Place Their Bets

In other Lemonade news, insider John Sheldon Peters sold 6,543 shares of the company’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $45.00, for a total value of $294,435.00. Following the completion of the transaction, the insider owned 106,115 shares in the company, valued at $4,775,175. This represents a 5.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adina Eckstein sold 5,000 shares of Lemonade stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $49.00, for a total value of $245,000.00. Following the completion of the sale, the chief operating officer directly owned 189,653 shares of the company’s stock, valued at approximately $9,292,997. This trade represents a 2.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,289 shares of company stock valued at $825,982 in the last 90 days. Corporate insiders own 14.70% of the company’s stock.

Institutional Trading of Lemonade

A number of institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. lifted its holdings in Lemonade by 4.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,683 shares of the company’s stock worth $249,000 after purchasing an additional 220 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Lemonade by 3.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 11,020 shares of the company’s stock worth $346,000 after purchasing an additional 380 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in Lemonade by 8.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,463 shares of the company’s stock worth $200,000 after purchasing an additional 423 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Lemonade by 5.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,285 shares of the company’s stock worth $363,000 after purchasing an additional 458 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Lemonade by 28.3% during the 1st quarter. US Bancorp DE now owns 2,406 shares of the company’s stock worth $76,000 after purchasing an additional 531 shares in the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.