Lemonade (NYSE:LMND) Given New $23.00 Price Target at Morgan Stanley

Lemonade (NYSE:LMND) had its target price boosted by Morgan Stanley from $15.00 to $23.00 in a report issued on Friday,Benzinga reports. They currently have an underweight rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Jefferies Financial Group lowered their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and lifted their price target for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Piper Sandler boosted their target price on Lemonade from $18.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, JMP Securities restated a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.33.

Lemonade Price Performance

Lemonade stock traded up $1.59 during midday trading on Friday, hitting $33.30. 2,765,768 shares of the company were exchanged, compared to its average volume of 1,662,499. The company’s fifty day moving average price is $20.36 and its 200-day moving average price is $18.59. Lemonade has a fifty-two week low of $14.03 and a fifty-two week high of $35.17. The company has a market cap of $2.38 billion, a PE ratio of -10.95 and a beta of 1.68.

Lemonade (NYSE:LMND) last announced its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The company had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. During the same period in the prior year, the company posted ($0.88) EPS. Lemonade’s quarterly revenue was up 19.3% on a year-over-year basis. On average, analysts expect that Lemonade will post -3.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total value of $37,392.00. Following the completion of the sale, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at $4,953,108.48. The trade was a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Maria Angelidis-Smith purchased 15,042 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average price of $33.23 per share, for a total transaction of $499,845.66. Following the acquisition, the director now directly owns 33,554 shares in the company, valued at $1,114,999.42. This represents a 81.26 % increase in their position. The disclosure for this purchase can be found here. 12.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LMND. Axiom Advisory LLC grew its holdings in Lemonade by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 54,400 shares of the company’s stock valued at $897,000 after buying an additional 850 shares during the last quarter. Blue Trust Inc. grew its holdings in Lemonade by 220.0% in the 3rd quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after buying an additional 1,879 shares during the last quarter. Van ECK Associates Corp grew its holdings in Lemonade by 12.1% in the 2nd quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock valued at $293,000 after buying an additional 1,915 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Lemonade by 9.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock valued at $404,000 after buying an additional 2,196 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Lemonade by 9.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock valued at $482,000 after buying an additional 2,582 shares during the last quarter. Institutional investors and hedge funds 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.