Morgan Stanley Increases Lemonade (NYSE:LMND) Price Target to $23.00

Lemonade (NYSE:LMND) had its target price hoisted by investment analysts at Morgan Stanley from $15.00 to $23.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 30.93% from the stock’s previous close.

LMND has been the topic of a number of other reports. Piper Sandler boosted their price objective on Lemonade from $18.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. JMP Securities reissued a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a report on Tuesday, October 15th. Keefe, Bruyette & Woods downgraded shares of Lemonade from a “market perform” rating to an “underperform” rating and raised their price objective for the stock from $18.00 to $21.00 in a report on Thursday, November 7th. Finally, Jefferies Financial Group lowered their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $23.33.

Lemonade Price Performance

Shares of Lemonade stock opened at $33.30 on Friday. The firm has a fifty day moving average price of $20.36 and a two-hundred day moving average price of $18.60. Lemonade has a fifty-two week low of $14.03 and a fifty-two week high of $35.17.

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. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter last year, the company earned ($0.88) earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis. As a group, analysts expect that Lemonade will post -3.05 EPS for the current fiscal year.

Insider Activity

In other Lemonade news, Director Maria Angelidis-Smith purchased 18,512 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of $27.42 per share, with a total value of $507,599.04. Following the acquisition, the director now directly owns 18,512 shares of the company’s stock, valued at approximately $507,599.04. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total value of $37,392.00. Following the completion of the transaction, the chief financial officer now directly owns 271,552 shares in the company, valued at approximately $4,953,108.48. This represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. 12.50% of the stock is owned by corporate insiders.

Institutional Trading of Lemonade

Hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP grew its holdings in Lemonade by 31.0% during the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after acquiring an additional 42,822 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Lemonade by 1,549.0% during the third quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock valued at $324,000 after purchasing an additional 18,480 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Lemonade by 388.7% in the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after purchasing an additional 131,784 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Lemonade by 436.2% in the second quarter. Squarepoint Ops LLC now owns 45,573 shares of the company’s stock valued at $752,000 after purchasing an additional 37,073 shares in the last quarter. Finally, Tidal Investments LLC acquired a new position in Lemonade during the 1st quarter worth $718,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

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.