Lemonade (NYSE:LMND) Sets New 12-Month High Following Analyst Upgrade

Lemonade, Inc. (NYSE:LMND)’s stock price reached a new 52-week high during mid-day trading on Monday after JMP Securities raised their price target on the stock from $40.00 to $60.00. JMP Securities currently has a market outperform rating on the stock. Lemonade traded as high as $53.85 and last traded at $52.69, with a volume of 1721407 shares traded. The stock had previously closed at $49.28.

A number of other equities analysts also recently weighed in on the company. Keefe, Bruyette & Woods downgraded Lemonade from a “market perform” rating to an “underperform” rating and boosted their price target for the stock from $18.00 to $21.00 in a research report on Thursday, November 7th. Piper Sandler raised their price target on shares of Lemonade from $25.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th. Jefferies Financial Group cut their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. Finally, BMO Capital Markets raised their price objective on Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Lemonade has an average rating of “Hold” and a consensus price target of $30.43.

Insider Activity at Lemonade

In other news, CFO Timothy E. Bixby sold 2,050 shares of the firm’s stock in a transaction dated 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 approximately $4,953,108.48. This trade represents a 0.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Adina Eckstein sold 23,644 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $50.00, for a total transaction of $1,182,200.00. Following the completion of the transaction, the chief operating officer now owns 189,653 shares in the company, valued at approximately $9,482,650. The trade was a 11.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,892 shares of company stock worth $3,783,045. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LMND. Marshall Wace LLP purchased a new position in Lemonade during the 2nd quarter worth $14,181,000. General Equity Holdings LP acquired a new stake in Lemonade during the second quarter valued at $5,198,000. FMR LLC raised its position in shares of Lemonade by 93.0% in the third quarter. FMR LLC now owns 318,321 shares of the company’s stock worth $5,249,000 after acquiring an additional 153,362 shares during the period. Millennium Management LLC boosted its stake in shares of Lemonade by 388.7% during the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after acquiring an additional 131,784 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Lemonade in the 3rd quarter valued at about $1,571,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Lemonade Stock Up 7.5 %

The business has a 50-day simple moving average of $22.98 and a 200-day simple moving average of $19.54. The company has a market cap of $3.78 billion, a PE ratio of -17.43 and a beta of 1.68.

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

Lemonade Company Profile

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.