Piper Sandler Increases Lemonade (NYSE:LMND) Price Target to $44.00

Lemonade (NYSE:LMND) had its price target hoisted by Piper Sandler from $25.00 to $44.00 in a research report report published on Thursday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other research analysts have also recently weighed in on the company. Jefferies Financial Group dropped their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $23.00 to $42.00 in a report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods cut 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 research note on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.43.

Lemonade Stock Down 2.1 %

Shares of LMND opened at $49.28 on Thursday. Lemonade has a 52-week low of $14.03 and a 52-week high of $52.22. The company has a 50-day simple moving average of $22.98 and a 200-day simple moving average of $19.52. The company has a market capitalization of $3.52 billion, a PE ratio of -16.21 and a beta of 1.68.

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

Insider Activity at Lemonade

In related news, COO Adina Eckstein sold 23,644 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.00, for a total value of $945,760.00. Following the completion of the transaction, the chief operating officer now directly owns 189,653 shares in the company, valued at approximately $7,586,120. This represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Timothy E. Bixby sold 2,050 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 271,552 shares in the company, valued at approximately $4,953,108.48. The trade was a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,892 shares of company stock valued at $3,783,045. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP grew its holdings in Lemonade by 31.0% in the third quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock valued at $2,983,000 after purchasing an additional 42,822 shares during the period. International Assets Investment Management LLC grew its stake in shares of Lemonade by 1,549.0% during the 3rd quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock valued at $324,000 after buying an additional 18,480 shares during the period. Millennium Management LLC increased its holdings 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 buying an additional 131,784 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Lemonade by 436.2% in the 2nd quarter. Squarepoint Ops LLC now owns 45,573 shares of the company’s stock worth $752,000 after buying an additional 37,073 shares during the period. Finally, Tidal Investments LLC acquired a new position in Lemonade in the first quarter valued at $718,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

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.