Lemonade (NYSE:LMND) Stock Rating Reaffirmed by JMP Securities

Lemonade (NYSE:LMND)‘s stock had its “market outperform” rating reiterated by JMP Securities in a report issued on Monday, Benzinga reports. They currently have a $40.00 price objective on the stock. JMP Securities’ target price suggests a potential upside of 149.22% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Piper Sandler reiterated a “neutral” rating and set a $17.00 price target on shares of Lemonade in a research report on Thursday, February 29th. Morgan Stanley raised their price target on shares of Lemonade from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Wednesday, February 28th. Keefe, Bruyette & Woods upped their price objective on Lemonade from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Monday, March 4th. Finally, TD Cowen began coverage on Lemonade in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $17.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $17.11.

Lemonade Stock Performance

NYSE:LMND opened at $16.05 on Monday. The firm’s 50-day moving average is $16.85 and its 200-day moving average is $16.01. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -4.71 and a beta of 1.89. Lemonade has a 52-week low of $10.27 and a 52-week high of $24.81.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.18. Lemonade had a negative return on equity of 31.29% and a negative net margin of 55.12%. The business had revenue of $115.50 million for the quarter, compared to analysts’ expectations of $111.71 million. During the same period in the previous year, the business posted ($0.93) earnings per share. Lemonade’s quarterly revenue was up 30.7% on a year-over-year basis. Equities analysts predict that Lemonade will post -3.07 EPS for the current year.

Insider Buying and Selling at Lemonade

In other news, CFO Timothy E. Bixby acquired 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $16.54 per share, with a total value of $165,400.00. Following the completion of the purchase, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $165,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LMND. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Lemonade by 56.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 25,960 shares of the company’s stock valued at $685,000 after acquiring an additional 9,369 shares in the last quarter. MetLife Investment Management LLC bought a new stake in shares of Lemonade during the 1st quarter worth $25,000. BlackRock Inc. raised its stake in shares of 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 during the period. Allianz Asset Management GmbH purchased a new position in shares of Lemonade in the 1st quarter worth about $4,485,000. Finally, Charles Schwab Investment Management Inc. grew its position in Lemonade by 2.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 196,482 shares of the company’s stock valued at $5,182,000 after buying an additional 5,176 shares during the period. 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.