BMO Capital Markets Begins Coverage on Lemonade (NYSE:LMND)

Equities researchers at BMO Capital Markets initiated coverage on shares of Lemonade (NYSE:LMNDGet Rating) in a note issued to investors on Thursday, The Fly reports. The brokerage set an “underperform” rating and a $10.00 price target on the stock. BMO Capital Markets’ price objective suggests a potential downside of 32.52% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Oppenheimer decreased their price target on Lemonade to $30.00 in a report on Tuesday, November 15th. Piper Sandler decreased their price target on Lemonade from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday. Keefe, Bruyette & Woods assumed coverage on Lemonade in a report on Thursday, November 17th. They set a “market perform” rating and a $24.00 price target for the company. Finally, Barclays reduced their price objective on Lemonade from $28.00 to $18.00 and set an “equal weight” rating for the company in a research note on Thursday, November 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.88.

Lemonade Stock Down 2.0 %

Shares of NYSE:LMND opened at $14.82 on Thursday. Lemonade has a twelve month low of $12.82 and a twelve month high of $34.50. The stock’s 50 day moving average is $17.02 and its 200-day moving average is $20.60. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -3.07 and a beta of 1.49.

Lemonade (NYSE:LMNDGet Rating) last issued its earnings results on Tuesday, November 8th. The company reported ($1.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.01). Lemonade had a negative return on equity of 33.30% and a negative net margin of 145.44%. The firm had revenue of $74.00 million for the quarter, compared to analyst estimates of $65.17 million. Equities research analysts anticipate that Lemonade will post -4.85 earnings per share for the current fiscal year.

Insider Transactions at Lemonade

In other news, insider John Sheldon Peters sold 4,265 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $25.00, for a total transaction of $106,625.00. Following the completion of the transaction, the insider now owns 8,985 shares in the company, valued at approximately $224,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 36.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its holdings in Lemonade by 56.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 25,960 shares of the company’s stock worth $685,000 after purchasing an additional 9,369 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in Lemonade during the 1st quarter worth about $25,000. BlackRock Inc. lifted its holdings in Lemonade by 3.4% during the 1st quarter. BlackRock Inc. now owns 1,517,589 shares of the company’s stock worth $40,019,000 after purchasing an additional 50,278 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Lemonade in the 1st quarter valued at about $4,485,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Lemonade by 2.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 196,482 shares of the company’s stock valued at $5,182,000 after acquiring an additional 5,176 shares in the last quarter. Institutional investors own 67.70% of the company’s stock.

About Lemonade

(Get Rating)

Lemonade, Inc provides various insurance products in the United States and Europe. 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. The company also offers renters, homeowners, pet, car, and life insurance products, as well as landlord insurance policies.

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