Lemonade (NYSE:LMND) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Lemonade (NYSE:LMND) posted its earnings results on Wednesday. The company reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.07, Briefing.com reports. The company had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative return on equity of 30.34% and a negative net margin of 44.24%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.88) earnings per share. Lemonade updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Lemonade Trading Up 27.3 %

LMND stock traded up $5.12 during midday trading on Thursday, reaching $23.87. The stock had a trading volume of 8,902,421 shares, compared to its average volume of 1,599,354. The company has a market cap of $1.70 billion, a price-to-earnings ratio of -8.40 and a beta of 1.77. Lemonade has a 52-week low of $10.64 and a 52-week high of $25.40. The company’s fifty day simple moving average is $17.87 and its 200 day simple moving average is $17.59.

Insider Buying and Selling at Lemonade

In other news, CFO Timothy E. Bixby sold 2,050 shares of Lemonade stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total transaction of $37,392.00. Following the transaction, the chief financial officer now owns 271,552 shares in the company, valued at $4,953,108.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LMND has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. JMP Securities reissued a “market outperform” rating and set a $40.00 price target on shares of Lemonade in a report on Tuesday, October 15th. Two 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.17.

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.