Lemonade (NYSE:LMND – Free Report) had its price objective upped by Keefe, Bruyette & Woods from $44.00 to $48.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an underperform rating on the stock.
A number of other equities research analysts have also issued reports on LMND. Morgan Stanley reaffirmed an “equal weight” rating and set a $75.00 target price on shares of Lemonade in a research report on Wednesday. Citizens Jmp decreased their price target on Lemonade from $85.00 to $80.00 and set a “market outperform” rating for the company in a research report on Thursday, April 30th. Piper Sandler dropped their price target on Lemonade from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Truist Financial cut their price objective on Lemonade from $98.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lemonade in a research note on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $65.33.
Check Out Our Latest Research Report on Lemonade
Lemonade Stock Performance
Lemonade (NYSE:LMND – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.11. The company had revenue of $258.00 million for the quarter, compared to analysts’ expectations of $251.51 million. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The firm’s revenue was up 70.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.86) earnings per share. On average, sell-side analysts expect that Lemonade will post -1.71 EPS for the current fiscal year.
Insider Activity at Lemonade
In other Lemonade news, insider John Sheldon Peters sold 3,608 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $52.94, for a total transaction of $191,007.52. Following the sale, the insider directly owned 81,386 shares of the company’s stock, valued at $4,308,574.84. The trade was a 4.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Maya Prosor sold 1,220 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of the sale, the insider owned 187,573 shares of the company’s stock, valued at $9,973,256.41. The trade was a 0.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 10,007 shares of company stock worth $620,201. Corporate insiders own 14.70% of the company’s stock.
Institutional Investors Weigh In On Lemonade
Several hedge funds have recently bought and sold shares of LMND. Caitong International Asset Management Co. Ltd boosted its position in Lemonade by 8,080.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock worth $29,000 after acquiring an additional 404 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in Lemonade during the 4th quarter valued at about $33,000. Torren Management LLC acquired a new position in shares of Lemonade in the 4th quarter valued at about $35,000. Strive Financial Group LLC purchased a new stake in shares of Lemonade in the fourth quarter worth approximately $38,000. Finally, Strategic Advocates LLC purchased a new stake in shares of Lemonade in the third quarter worth approximately $33,000. 80.30% of the stock is owned by hedge funds and other institutional investors.
Lemonade Company Profile
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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