Lemonade, Inc. (NYSE:LMND – Get Free Report) was down 8.5% during trading on Wednesday . The company traded as low as $52.90 and last traded at $53.10. Approximately 531,518 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 2,176,252 shares. The stock had previously closed at $58.06.
Analysts Set New Price Targets
A number of research analysts have commented on LMND shares. Morgan Stanley dropped their price objective on shares of Lemonade from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a research note on Tuesday, April 21st. Piper Sandler lowered their target price on shares of Lemonade from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Keefe, Bruyette & Woods lifted their target price on shares of Lemonade from $40.00 to $44.00 and gave the company an “underperform” rating in a report on Tuesday, February 24th. Finally, Citizens Jmp lowered their target price on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $64.89.
Read Our Latest Stock Report on Lemonade
Lemonade Stock Down 2.2%
Lemonade (NYSE:LMND – Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.11. The company had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The firm’s quarterly revenue was up 70.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.86) earnings per share. As a group, analysts predict that Lemonade, Inc. will post -1.69 EPS for the current year.
Hedge Funds Weigh In On Lemonade
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LMND. TD Waterhouse Canada Inc. grew its stake in Lemonade by 3.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,671 shares of the company’s stock worth $261,000 after buying an additional 121 shares during the period. Watershed Private Wealth LLC boosted its stake in shares of Lemonade by 1.7% in the fourth quarter. Watershed Private Wealth LLC now owns 8,310 shares of the company’s stock valued at $592,000 after purchasing an additional 140 shares during the period. AQR Capital Management LLC boosted its stake in shares of Lemonade by 0.7% in the fourth quarter. AQR Capital Management LLC now owns 21,569 shares of the company’s stock valued at $1,535,000 after purchasing an additional 159 shares during the period. Titleist Asset Management LLC boosted its stake in shares of Lemonade by 4.1% in the third quarter. Titleist Asset Management LLC now owns 4,832 shares of the company’s stock valued at $259,000 after purchasing an additional 189 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Lemonade by 2.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,431 shares of the company’s stock valued at $600,000 after purchasing an additional 219 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.
About Lemonade
Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.
The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.
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