Brokerages Set Lemonade, Inc. (NYSE:LMND) Price Target at $31.00

Shares of Lemonade, Inc. (NYSE:LMND) have been given an average rating of “Reduce” by the six ratings firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $31.00.

Several research analysts have commented on LMND shares. JMP Securities boosted their price target on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Piper Sandler lowered their price target on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. BMO Capital Markets boosted their price target on shares of Lemonade from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 21st. Finally, Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $23.00 to $42.00 in a report on Wednesday, November 20th.

Insider Activity at Lemonade

In other Lemonade news, major shareholder Softbank Group Capital Ltd sold 719,815 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $44.29, for a total transaction of $31,880,606.35. Following the completion of the transaction, the insider now owns 11,263,569 shares in the company, valued at approximately $498,863,471.01. This represents a 6.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Sheldon Peters sold 1,899 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total transaction of $64,167.21. Following the transaction, the insider now owns 87,609 shares of the company’s stock, valued at approximately $2,960,308.11. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 769,766 shares of company stock worth $33,851,446 in the last 90 days. 12.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Lemonade

A number of large investors have recently bought and sold shares of the company. Quarry LP grew its stake in shares of Lemonade by 300.4% during the 4th quarter. Quarry LP now owns 933 shares of the company’s stock worth $34,000 after purchasing an additional 700 shares during the period. Avior Wealth Management LLC acquired a new position in shares of Lemonade during the 4th quarter worth $40,000. Russell Investments Group Ltd. grew its stake in shares of Lemonade by 318.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,139 shares of the company’s stock worth $42,000 after purchasing an additional 867 shares during the period. BNP Paribas acquired a new position in shares of Lemonade during the 4th quarter worth $57,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Lemonade by 116.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,596 shares of the company’s stock worth $59,000 after purchasing an additional 860 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Stock Performance

Shares of LMND stock opened at $34.78 on Friday. The stock has a market capitalization of $2.53 billion, a P/E ratio of -11.44 and a beta of 2.12. The company has a 50 day moving average price of $34.40 and a 200 day moving average price of $30.48. Lemonade has a fifty-two week low of $14.03 and a fifty-two week high of $53.85.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.19. The firm had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $144.78 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. On average, research analysts forecast that Lemonade will post -3.03 EPS for the current fiscal year.

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.