Lemonade (NYSE:LMND) PT Raised to $18.00

Lemonade (NYSE:LMND) had its price target boosted by Piper Sandler from $17.00 to $18.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on LMND. Keefe, Bruyette & Woods raised their target price on Lemonade from $16.00 to $18.00 and gave the stock a market perform rating in a report on Monday, March 4th. JMP Securities reissued a market outperform rating and set a $40.00 price objective on shares of Lemonade in a research note on Monday, April 15th. TD Cowen started coverage on shares of Lemonade in a research note on Wednesday, January 10th. They issued a market perform rating and a $17.00 target price for the company. Finally, Morgan Stanley increased their target price on shares of Lemonade from $13.00 to $14.00 and gave the stock an underweight rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $17.22.

Lemonade Trading Down 2.0 %

Shares of NYSE:LMND traded down $0.36 during trading on Thursday, hitting $17.38. 1,723,844 shares of the company’s stock were exchanged, compared to its average volume of 1,521,711. The firm has a 50-day moving average price of $16.84 and a two-hundred day moving average price of $16.42. Lemonade has a 1-year low of $10.27 and a 1-year high of $24.81. The firm has a market cap of $1.23 billion, a P/E ratio of -5.55 and a beta of 1.82.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, April 30th. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.14. Lemonade had a negative net margin of 48.14% and a negative return on equity of 30.30%. The company had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $114.13 million. During the same quarter in the previous year, the company posted ($0.95) EPS. The business’s revenue for the quarter was up 25.1% compared to the same quarter last year. As a group, research analysts predict that Lemonade will post -3.03 EPS for the current year.

Insiders Place Their Bets

In other Lemonade news, CFO Timothy E. Bixby acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $16.54 per share, with a total value of $165,400.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $165,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 11.70% of the company’s stock.

Institutional Trading of Lemonade

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC lifted its stake in Lemonade by 57.0% in the 3rd quarter. Algert Global LLC now owns 96,058 shares of the company’s stock valued at $1,116,000 after purchasing an additional 34,860 shares during the last quarter. Swiss National Bank boosted its stake in shares of Lemonade by 1.2% during the 3rd quarter. Swiss National Bank now owns 114,500 shares of the company’s stock worth $1,330,000 after acquiring an additional 1,400 shares during the period. Seven Eight Capital LP acquired a new position in shares of Lemonade during the 3rd quarter worth approximately $704,000. SG Americas Securities LLC raised its stake in Lemonade by 32.2% in the 4th quarter. SG Americas Securities LLC now owns 42,634 shares of the company’s stock valued at $688,000 after acquiring an additional 10,376 shares during the period. Finally, Cypress Capital Management LLC WY bought a new position in Lemonade during the fourth quarter worth $946,000. 80.30% of the stock is owned by institutional investors.

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.