Lemonade (NYSE:LMND) Issues Earnings Results, Hits Expectations

Lemonade (NYSE:LMND – Get Free Report) released its earnings results on Tuesday. The company reported ($0.56) earnings per share for the quarter, meeting the consensus estimate of ($0.56), FiscalAI reports. The firm had revenue of $294.40 million for the quarter, compared to analyst estimates of $291.01 million. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The company’s quarterly revenue was up 79.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.60) earnings per share.

Lemonade Stock Performance

NYSE LMND traded down $14.17 during trading hours on Wednesday, hitting $47.94. The company had a trading volume of 3,109,603 shares, compared to its average volume of 1,998,704. The firm has a 50 day simple moving average of $61.61 and a 200 day simple moving average of $64.10. Lemonade has a 52 week low of $35.70 and a 52 week high of $99.90. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of -25.64 and a beta of 1.79.

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Insider Buying and Selling at Lemonade

In related news, insider Maya Prosor sold 1,220 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total value of $64,867.40. Following the sale, the insider owned 187,573 shares in the company, valued at approximately $9,973,256.41. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,608 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $52.94, for a total value of $191,007.52. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last three months, insiders sold 10,007 shares of company stock valued at $620,201. Insiders own 12.20% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Large investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its stake 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 valued at $29,000 after purchasing an additional 404 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Lemonade in the fourth quarter valued at $33,000. Strive Financial Group LLC purchased a new stake in Lemonade in the 4th quarter valued at about $38,000. Macquarie Group Ltd. bought a new position in shares of Lemonade during the 4th quarter worth $63,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Lemonade during the first quarter valued at $35,000. Institutional investors own 80.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LMND shares. Citizens Jmp decreased their price target on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating for the company in a report on Thursday, April 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a report on Friday, July 17th. Keefe, Bruyette & Woods boosted their price target on Lemonade from $44.00 to $48.00 and gave the stock an “underperform” rating in a report on Wednesday, July 8th. TD Cowen restated a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Finally, Truist Financial reduced their price objective on shares of Lemonade from $98.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $66.78.

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About Lemonade

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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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