Q3 2024 EPS Estimates for Lemonade, Inc. Cut by Analyst (NYSE:LMND)

Lemonade, Inc. (NYSE:LMND) – William Blair lowered their Q3 2024 earnings estimates for shares of Lemonade in a research note issued on Wednesday, July 31st. William Blair analyst A. Klauber now anticipates that the company will post earnings of ($1.04) per share for the quarter, down from their prior forecast of ($0.86). The consensus estimate for Lemonade’s current full-year earnings is ($2.96) per share. William Blair also issued estimates for Lemonade’s Q4 2024 earnings at ($0.60) EPS, FY2024 earnings at ($3.12) EPS and FY2025 earnings at ($2.69) EPS.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.07. The firm had revenue of $122.00 million during the quarter, compared to analyst estimates of $121.77 million. Lemonade had a negative net margin of 44.24% and a negative return on equity of 30.34%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.97) EPS.

A number of other analysts also recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Lemonade from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price objective on shares of Lemonade in a report on Monday, April 15th. Finally, Jefferies Financial Group lifted their price objective on shares of Lemonade from $14.00 to $16.00 and gave the stock an “underperform” rating in a report on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.86.

Lemonade Price Performance

LMND opened at $15.53 on Monday. The company has a fifty day moving average price of $17.92 and a 200-day moving average price of $17.27. The firm has a market capitalization of $1.09 billion, a P/E ratio of -4.96 and a beta of 1.78. Lemonade has a one year low of $10.27 and a one year high of $24.55.

Hedge Funds Weigh In On Lemonade

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quest Partners LLC purchased a new position in shares of Lemonade during the fourth quarter valued at about $151,000. Concurrent Investment Advisors LLC purchased a new position in shares of Lemonade during the second quarter valued at about $180,000. Capstone Investment Advisors LLC purchased a new position in shares of Lemonade during the first quarter valued at about $214,000. Headlands Technologies LLC purchased a new position in shares of Lemonade during the first quarter valued at about $231,000. Finally, Trexquant Investment LP purchased a new position in shares of Lemonade during the fourth quarter valued at about $272,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Timothy E. Bixby acquired 15,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was purchased at an average cost of $15.51 per share, with a total value of $232,650.00. Following the completion of the purchase, the chief financial officer now owns 25,000 shares in the company, valued at approximately $387,750. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Timothy E. Bixby acquired 15,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was purchased at an average cost of $15.51 per share, with a total value of $232,650.00. Following the completion of the purchase, the chief financial officer now owns 25,000 shares in the company, valued at approximately $387,750. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Timothy E. Bixby sold 2,077 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $16.03, for a total transaction of $33,294.31. Following the transaction, the chief financial officer now directly owns 273,602 shares of the company’s stock, valued at $4,385,840.06. The disclosure for this sale can be found here. 12.50% of the stock is currently owned by insiders.

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.